CBRE Capital Markets’ Debt & Structured Finance has secured acquisition financing for TriVista on Speer, a 322-unit luxury apartment community in Denver. Brady O’Donnell and Jill Haug with CBRE in Denver arranged the loan from MetLife on behalf of Manulife Investment Management, who purchased the property on behalf of a third-party managed account for $144.5 million in a transaction that closed on June 14.
“As one of the most exciting new apartment communities to arrive in downtown Denver in recent years, TriVista on Speer is a quality asset with top-tier institutional sponsorship, which allowed CBRE to secure a competitive loan,” added Mr. O’Donnell, vice chairman, CBRE.
Completed in 2019, TriVista on Speer is a seven-story community with an average unit size of 985 square feet. All units include designer kitchens with granite and quartz countertops, in-home washer and dryers, high ceilings, and oversized windows with mountain and city views. Community amenities include a rooftop pool and spa, two courtyards with firepits and bocce ball, a chef’s kitchen, a two-story fitness center with a yoga/spin studio and a pet spa/grooming station.
The property is located at 1350 Speer Boulevard in downtown Denver’s Golden Triangle neighborhood, home to more than 15 museums and art galleries and the Colorado State Capitol building. The community is a short walk from the Central Business District, the 16th Street Mall, the Convention Center, the Cherry Creek Trail and two light rail stations.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE: CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2020 revenue). The company has more than 100,000 employees serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.
About Manulife Investment Management
Manulife Investment Management is the global wealth and asset management segment of Manulife Financial Corporation. We draw on more than a century of financial stewardship and the full resources of our parent company to serve individuals, institutions, and retirement plan members worldwide. Headquartered in Toronto, our leading capabilities in public and private markets are strengthened by an investment footprint that spans 17 countries and territories. We complement these capabilities by providing access to a network of unaffiliated asset managers from around the world. We’re committed to investing responsibly across our businesses. We develop innovative global frameworks for sustainable investing, collaboratively engage with companies in our securities portfolios, and maintain a high standard of stewardship where we own and operate assets, and we believe in supporting financial well-being through our workplace retirement plans. Today, plan sponsors around the world rely on our retirement plan administration and investment expertise to help their employees plan for, save for, and live a better retirement. As of March 31, 2021, Manulife Investment Management had CAD $764.1 billion (US $607.6 billion) in assets under management and administration. Not all offerings are available in all jurisdictions. For additional information, please visit manulifeim.com.
