October 05, 2021
Trez Capital announced the closing of a bridge loan in excess of $30 million to Denver-based CRE Development Investments, led by Leon Cisneros for the lease-up and stabilization of Art District Flats, a new mixed-use development with 126 units and 6,400 square feet of ground-floor retail in Denver’s popular Art District.
October 04, 2021
DENVER, Oct. 4, 2021 – Today, Trez Capital announced the closing of a bridge loan in excess of $30 million to Denver-based CRE Development Investments, led by Leon Cisneros for the lease-up and stabilization of Art District Flats, a new mixed-use development with 126 units and 6,400 square feet of ground-floor retail in Denver’s popular Art District.
The recently opened eight-story, mixed-used community located at 1225 Santa Fe Drive is helping spur development in Denver’s rapidly growing Art District which is home to hundreds of galleries, studios, theatres and creative businesses and eateries. In keeping with the neighborhood’s creative influence, Art District Flats has local art showcased throughout the building interiors and exteriors with works from a different local artist featured on each floor.
“We’re pleased to provide bridge financing to help lease-up and stabilize CRE Development Investments’ newest development, one that blends in well with the context of the surrounding community,” said Alec Barry, senior vice president, Central and Southern U.S., Trez Capital. “We’re continuing to expand our bridge lending program and due to our extensive, successful track record in the multifamily industry, Trez Capital was able to provide competitive cost financing to see this project to the finish line.”
“This is our first opportunity to work with Trez Capital and the end result is a new development that has already seen a successful lease-up since opening, adding to the vibrant, mixed-use community within the Lincoln Park neighborhood,” said Cisneros, President, CRE Development Investments.
Residents of Art District Flats have the choice of studios, one- and two-bedroom units with open floorplans, terraces, modern kitchens and baths, and in-unit washer/dryers. Other amenities include a resident lounge, a fitness center, rooftop decks with lounge areas, grilling stations and amazing views of both the city and mountains.
This new development is located in the Lincoln Park neighborhood and sits just north of the corner of 12th and Santa Fe. It is within walking distance to countless colorful street murals flanked by small art galleries, brewpubs and taquerias, and the location provides easy access to Denver’s theater district, downtown Denver, museum district as well as sports and concert venues.
About Trez Capital
Founded in 1997, Trez Capital is a diversified real estate investment firm and preeminent provider of commercial real estate debt financing solutions in Canada and the United States. Trez Capital offers private and institutional investors strategies to invest in a variety of opportunistic, fully secured, mortgage investment funds and like investment assets and provides property developers and owners with quick approvals on flexible short- to mid-term financing.
With offices across North America, Trez Corporate Group has over $3.9* CAD in assets under management and has funded over 1,500 transactions totaling more than $13 billion CAD since inception. The Dallas office has funded more than $4 billion in loans. For more information, visit www.trezcapital.com. (*Trez Corporate Group AUM includes assets held by all Trez Capital-related entities as well as $2.7 B Manager AUM (Trez Capital Fund Management Limited Partnership)).