Trez Capital Closes Construction Loans for Two ‘Class A’ Detached Rental Communities in the Denver Region
Today, Trez Capital announced the closing of construction loans to NexMetro Communities for two Avilla Homes communities, Avilla Prairie Center and Avilla Buffalo Run, in the Denver metro area. Avilla Prairie Center is in Brighton, Colorado and Avilla Buffalo Run is in Commerce City, Colorado. These loans surpass the five-project, $100 million agreement between Trez Capital and NexMetro to develop Avilla Homes communities throughout the Dallas, Denver and Phoenix markets.
“The demand for luxury leased detached communities is growing as renters look for modern alternatives to the typical apartment experience,” said Jason Stowe, vice president at Trez Capital. “Both Brighton and Commerce City have seen tremendous growth over the past few years, and housing like Avilla Homes is an attractive option for both current and new residents.”
Avilla Prairie Center will feature 136 leased, single-level, detached homes in a gated enclave. The one-, two- and three-bedroom floor plans will feature private entrances, outdoor patios and backyards, along with high-end finishes such as 10-foot ceilings, granite/quartz countertops and stainless-steel appliances. The pet-friendly community will offer optional garages, a resort-style pool, landscaped recreation areas and an electric car charging station.
Avilla Buffalo Run will feature 123 leased, single-level, detached homes in a gated community. The one-, two- and three-bedroom floor plans will feature 10-foot ceilings, stainless steel appliances and granite countertops. Each unit will also have a front porch and fenced back yard. Community amenities include a resort-style pool, spa, covered ramada, dog park and gathering spaces.
“These projects are located in prime suburban locations and early interest has been tremendous,” said Josh Hartmann, CEO of NexMetro Communities, adding that Trez ane NexMetro have completed seven Avilla Homes neighborhoods through the lending relationship. “We have a great lender in Trez and their team and truly value this relationship as our company continues to offer this unique housing lifestyle in more markets across the country.”
Both communities are 30 minutes north of downtown Denver and offer easy access to major transportation corridors including E-470, Interstate 76 and Highway 85. They are also within proximity to Barr Lake State Park, shopping, restaurants and the Denver International Airport.
About Trez Capital
Founded in 1997, Trez Capital is a diversified real estate investment firm and the 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, high-yield mortgage investment funds and like investment assets, and provide property developers and owners with quick approvals on flexible short- to mid-term financing.
Trez Capital has more than $3 billion in assets under management and through its Dallas office, has funded more than $2.5 billion in loans. For more information, visit www.trezcapital.com.