Alpine Investments secures $ 12.9 million loan for 39 units in Denver

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Alpine Investments has secured a $ 12.99 million construction loan to build 39Tenn Apartments, a 39-unit and retail development located at 3870 Tennyson Street in the Berkeley neighborhood of Denver.

The 39Tenn development will total 36,278 square feet, consisting of 39 high-end units totaling 31,633 square feet in 4,645 square feet of retail space. The development is expected to be completed by the end of 2021.

Boasting a sophisticated and contemporary style, the units will have high-end finishes, engineered hardwood floors, quartz countertops, European-style solid core cabinetry with soft-close hardware, appliances. High end, energy efficient LED lighting and efficient water source heating and cooling systems in every unit.

JLL Capital Markets worked on the assignment on behalf of Alpine Investments, to secure the construction loan with a Colorado based bank.

The Tennyson Street Corridor is a premier entertainment district with various art galleries and retail options and was recently acclaimed as the ‘Next Hottest Dining Room’, due to its burgeoning restaurant scene. . In addition to being an entertainment hotspot, the property is close to Denver’s largest employment centers, providing approximately 136,000 jobs and located just five minutes from downtown. The population within a mile radius of the property is 22,181, with an estimated growth rate of 1.76% over the next five years.

Render courtesy of JLL

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