RXR, together with Halpern Real Estate Investments, Korman Communities and Invent Development Partners, have secured $125 million in construction financing for AVE Station House, a 301-unit luxury multifamily development in Denver. The property was financed with a $100 million senior loan provided by Madison Realty Capital and a $25 million mezzanine loan provided by an insurance company.
RXR is an equity investor and is responsible for development management and construction oversight, including coordinating the design, permitting, budgeting, financing and execution of the project located at 4001 Walnut St. AVE Station House will be a 13-story multifamily building in Denver’s River North (RiNo) Arts District. The development comprises approximately 291,444 rentable square feet of residential space, including 271 market-rate apartments and 30 affordable units, along with more than 6,200 square feet of ground-floor retail space and approximately 290 secured parking spaces.
