ConstructionDevelopmentMultifamily

RiNo Apartments Refinanced for $60.3M

Edison at RiNo, a newly constructed, 277-unit multi-housing complex along Brighton Boulevard in Denver’s RiNo neighborhood, has been refinanced $60.3 million. JLL worked on behalf of the borrower, Clarion Partners, LLC, to place the seven-year, 3.05 percent, fixed-rate loan with an insurance and financial services company. JLL will service the loan, proceeds of which will be used to retire the existing construction loan.

Edison at RiNo is situated on 1.81 acres at 3063 Brighton Boulevard between 29th Street and 31st Street. With striking architectural design that pays homage to RiNo’s industrial roots, the property was completed in 2018 and offers views of both the mountains to the west and the Denver skyline to the east. The nine-story building houses six stories of high-end residencies over a three-story podium and deluxe, ground-floor townhomes.

Kairoi Residential, was the developer for the complex, which was the first in the city to use prefab construction techniques developed by Prescient, to speed up construction at the project. Edison at Rino offers a mix of studio, one- and two-bedroom units with an average size of 846 square feet.

Building amenities include a state-of-the-art fitness center, infinity pool with views of downtown and private cabanas, pool lounge and club area, two resident lounges, ski storage, bike storage and repair room, covered parking and a dog washing station.

The JLL Capital Markets team representing the borrower was led by Managing Director Josh Simon along with Senior Managing Directors Travis Anderson and Riaz Cassum.

Photo courtesy of JLL

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