BrokerageConstructionDevelopmentMultifamily

XDenver2 Secures Construction Financing

Facebooktwitterredditlinkedinmail

The X Company has secured a $105.3 million construction loan for the construction of X Denver2 (XD2) in Denver’s Arapahoe Square.

“We are excited to continue to grow the X brand and want to thank our partners CIM and JLL for all the work it took to get this done in a very challenging year,” said Noah Gottlieb, CEO at The X Company. “For our members, XD2 is a workspace, gym, neighborhood bar and social network under one roof. As our third project here in the past two years, XD2 will expand the X offering to our existing members and hopefully welcome a bunch of new ones.”

XD2 will offer private residences and co-living suites in a 22-story high rise at the corner of 21st and Arapahoe. XD2 will allow future members to choose between thoughtfully designed private apartments or share a fully-furnished co-living suite with their own bedroom and bathroom. The project also provides members with over 15,700 square feet of collaborative working space, a three-story unconventional members-only club featuring a resort-style pool and deck, full-service fitness center with daily classes and entertainment lounge equipped with a bar.

JLL Capital Markets team represented The X Company, led by Senior Managing Directors Eric Tupler and Christopher Peck, who co-head the Denver and New York City offices respectively, as well as Managing Director Josh Simon.

“The JLL Capital Markets team is grateful for the opportunity to work on behalf of The X Company, an innovative operator in the industry and also appreciative of the seamless execution provided by CIM, who we view as a trusted source of capital in the lending space,” said Tupler. “XD2 will be a welcomed addition to the Downtown Denver skyline and provide best-in-class housing for the continued influx of Denver residents primarily from coastal markets. We look forward to the delivery of XD2, and foresee the property anchoring the Arapahoe Square neighborhood.”

Rendering courtesy of JLL

Previous post

Cannabis Cultivation Facility to be Constructed in Southern Colorado

Next post

Multi-Tenant Mixed-Use Property Sells in Castle Pines

No Comment

Leave a reply

Your email address will not be published. Required fields are marked *