Berkadia secures $81.23m JV equity for Trammell Crow Residential’s multifamily development in Denver

Berkadia announced today that it has arranged $81.23 million in joint venture equity for Alexan Pena Station, a to-be-built, 578-unit multifamily development in Denver.

Berkadia JV Equity & Structured Capital represented the sponsor, Trammell Crow Residential (TCR), to arrange the joint venture equity partnership.

Alexan Pena Station, located on the northeast side of Denver, will be built over two phases and spread out over 12 buildings with an average unit size of 976 square feet.

Berkadia arranged the equity through MBK Rental Living, a privately held real estate investment and development firm. MBK is a wholly owned subsidiary of Mitsui & Co., a global Fortune 500 company.

“In today’s challenging market, it is imperative for our team, Berkadia JV Equity & Structured Capital, to be in regular contact with both domestic and international equity sources to bring such a large development opportunity to fruition,” said Cody Kirkpatrick, ma