Joint-venture equity and debt financing secured for Class A multi-housing development in Denver MSA
JLL Capital Markets arranged the construction loan and advised on the equity placement for Kairoi Metro Center, a 419-unit multi-housing development in Aurora, Colorado
DENVER, Sept. 6, 2023 – JLL Capital Markets announced that it has arranged a 55% LTC construction loan and advised on the joint-venture equity placement for Kairoi Metro Center, a 419-unit multi-housing community located within the Denver MSA in Aurora, Colorado.
JLL represented the borrower, Kairoi Residential, to secure the six-year, floating-rate loan through a two-bank syndication that JLL arranged.
Upon completion in early 2026, Kairoi Metro Center will feature one-, two- and three-bedroom units with an average size of 831 square feet. The project will have two small urban parks as part of the site plan, and it is adjacent to a 1.4-acre city park.
The project is located within an Opportunity Zone and strategically sits near some of the Denver metro's highest quality jobs, including Fitzsimons Medical Campus, Aurora Municipal Center, Buckley Air Force Base and Kaiser Permanente Aurora Hospital. The transit-oriented development will provide tenants direct access via a two-minute walk to Denver's RTD R-Line light rail stop, leading directly to downtown Denver, Denver International Airport (DIA) and the southeast suburban office market. The project is also adjacent to Interstate 225, providing impeccable vehicular access throughout the Denver metro.
The JLL Capital Markets Advisory team was led by Senior Managing Directors Leon McBroom and Travis Anderson and Director Kevin Barron.
“While the current capital markets environment continues to demonstrate signs of volatility, strong sponsorship and great locations can still attract capital,” said McBroom. “The thoughtfully designed project will transform the area and be highly complementary to the surrounding employment and amenity drivers.”
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment and sales advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.
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For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500® company with annual revenue of $20.9 billion and operations in over 80 countries around the world, our more than 103,000 employees bring the power of a global platform combined with local expertise. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAYSM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
About Kairoi Residential
Kairoi Residential is a premier, vertically integrated, multifamily investment, development, and property management company headquartered in San Antonio with offices in Austin and Denver. Since 2003, the company has transacted on $9.7B across 65,000 multifamily units in many cities around the country. Kairoi has transacted across 10 states and 20 metros with a current AUM of $3.3B. A strong fiduciary track record and decades of passionate leadership have allowed the Kairoi Residential principals to maintain strong relationships and craft unforgettable living experiences nationwide.
Kairoi Development is comprised of a seasoned team of focused, detail-oriented leaders with extensive experience in all facets of multifamily development. They specialize in Class A+ urban, high-rise, mid-rise, wrap, podium, and low-rise projects with an unwavering dedication to quality of projects over quantity. Kairoi Development currently has $6.2B in the development pipeline and 4,544 units completed to date, 999 of which were developed in the Denver area.