CHICAGO, ILLINOIS– Essex Capital Markets, LLC is pleased to announce the successful closing of a $5.4 million loan to refinance The Beck, a 28-unit multifamily property located at 2508 E. 11th Ave. in Denver, Colorado. The financing, originated by Darragh Griffin, Principal, and Quinn Keenan, Analyst, was secured on behalf of a local private investment group.
The property features 28 recently renovated units, equipped with state-of-the-art appliances and private balconies, offering a variety of amenities designed to enhance the tenant experience.
The financing package includes a five-year, full-term interest-only loan of $5.4 million, secured from a life insurance company, with an interest rate of 5.30%. The property is strategically located in the heart of Denver, just 10 minutes from downtown and one block from major landmarks such as the Denver Botanic Gardens, Cheesman Park, and Congress Park
“We are thrilled with the structure and financing achieved for The Beck , it’s a fantastic result for our client and their investors, exemplifying our commitment to long-term client relationships and excellent execution.” said Darragh Griffin.