October 14, 2019– JLL announced today that it has arranged $14.7 million in financing for Tennyson Place, an 81-unit apartment community located in Northwest Denver’s coveted Berkeley neighborhood.
JLL worked on behalf of the borrower, Allante Properties and Investments, to secure the fixed-rate balance sheet loan. Loan proceeds were used to refinance an existing loan.
Tennyson Place is located at 3885 N. Tennyson along Berkeley’s main retail corridor, which provides residents with access to all of the area’s parks, shops, restaurants and live music venues. In addition, the property is conveniently located approximately three miles northwest of employers in Downtown Denver. Completed in 2017, Tennyson Place consists of a mix of studio and one-bedroom apartments ranging from 365 to 769 square feet. Community amenities include an indoor/outdoor community room, business center, 24-hour fitness center, sky deck, pet spa and garage parking.
The JLL Capital Markets team representing the borrower was led by Senior Director Brock Yaffe and Managing Director Josh Simon.
“We are extremely happy to have completed this transaction and everyone on the team performed spectacularly,” said Daren Schmidt, Managing Partner of Allante Properties and Investments. “We look forward to holding the asset for the coming years and are very proud of what we have accomplished at Tennyson Place. Thank you to everyone involved, and we look forward to the next transaction.”