Griffis Belleview Station: $40M refinancing secured for Denver multifamily community

DENVER, Feb. 26, 2026 –  JLL Capital Markets announced today that it has secured a $40 million refinancing of Griffis Belleview Station, a 238-unit multifamily community in Denver, Colorado.

JLL represented the borrower, Griffis Residential, in arranging the seven-year, fixed-rate loan through a correspondent life company lender.

Griffis Belleview Station, located at 4400 S Monaco St. in Denver's DTC/Southeast Corridor submarket, is strategically positioned within walking distance of the Belleview RTD rail station. The transit-oriented community provides residents direct access to downtown Denver via the E and F rail lines, with service every 15 minutes and a 35-minute ride to Union Station. The property sits at the heart of Colorado's largest employment center, the Southeast Business Corridor, which supports more than 240,000 employees and accounts for 30% of Colorado's GDP.

Denver continues to be a dynamic metro area with strong employment drivers and innovation-focused industries. The DTC/Southeast Corridor submarket, anchored by the Denver Tech Center, remains one of the region's most significant employment hubs, attracting Fortune 500 companies and major corporate users.

Built in 1999, the garden-style community consists of 11 three-story buildings on 11.20 acres and maintains strong occupancy at 94.96%. The property offers both traditional apartment homes and multi-level townhomes with direct-access garages. Residents enjoy resort-style amenities including a year-round pool, all-season spa, fitness center, off-leash dog park, outdoor grilling stations and clubhouse facilities. The community is adjacent to the Belleview Station master-planned development, which upon completion will feature 2.2 million square feet of office space, 300,000 square feet of retail and two hotels.

Griffis Residential has demonstrated strong commitment to the asset, investing nearly $2.55 million in capital improvements since 2022. The sponsor has renovated 157 units, representing 66% of the community, in two phases that command rent premiums ranging from $85 to $160 per month.

JLL Capital Market’s Debt Advisory team representing the borrower was led by Senior Director Kevin Barron, Executive Managing Director Eric Tupler and Associate Jake Martin.

"This transaction highlights the strength of well-located, transit-oriented multifamily assets in Denver's core employment corridors," said Barron. "Griffis Residential's long-term ownership and substantial capital investment program have positioned this community for continued success."

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The group’s in-depth local market and global investor knowledge delivers the best-in-class solutions for clients, including investment sales and advisory, debt advisory, M&A and corporate finance, loan sales, equity & fund placement, net lease, derivative advisory and energy & infrastructure advisory. JLL Capital Markets has more than 3,000 specialists worldwide with offices in nearly 50 countries.

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JLL (NYSE:JLL) is a leading global commercial real estate services and investment management company with annual revenue of $26.1 billion, operations in over 80 countries and a global workforce of more than 113,000 as of December 31, 2025. For over 200 years, clients have trusted JLL, a Fortune 500® company, to help them confidently buy, build, occupy, manage and invest across a variety of industries and property types, including office, industrial, hotel, multi-family, retail and data center properties. 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 WAY. Powered by rich global datasets and leading technology capabilities, we provide coordinated, end-to-end delivery of real estate services for a broad range of global clients who represent a wide variety of industries. Through LaSalle Investment Management, we invest for clients on a global basis in both private assets and publicly traded real estate securities. For further information, visit jll.com.

Griffis Residential, based in Denver, CO, is a vertically integrated multifamily investment firm currently operating a $3.6b portfolio of institutional-quality apartment communities in high-growth innovation hubs. The Griffis Residential management platform includes ~300 apartment professionals located in Austin, Dallas, Denver, Frisco, Los Angeles, Orange County, Portland, San Diego, Seattle, Silicon Valley, Bethesda, MD, Pompano Beach and West Palm Beach. Built on 40 years of its founders’ multifamily investment experience, Griffis Residential has established a leading reputation for its all-weather investment strategy and strong track record of value creation through multiple market cycles.