Trailbreak Partners completes $37.1M refinancing of newly constructed Denver multifamily property

DENVER, Oct. 8, 2025 –  JLL Capital Markets announced today that it has arranged $37.1 million in construction takeout financing for Ridian Apartments, a 123-unit newly constructed luxury multifamily community located in Denver, Colorado.

JLL worked on behalf of the borrower, Trailbreak Partners, to secure a floating-rate loan through an insurance company’s debt fund.

Completed in 2025, Ridian Apartments represents a sophisticated addition to Denver's rental housing market, featuring a thoughtfully designed unit mix of studio, one-bedroom and two-bedroom apartments across 132,000 square feet. The three-story wood-frame building includes 12 affordable units restricted to households earning 80 percent of the area median income, with the remaining 111 units offered at market rates.

The property features premium finishes, including chef-inspired kitchens with quartz countertops, stainless steel appliances and custom cabinetry. Residences include in-unit washers and dryers, frameless glass shower doors and keyless entry, with select units offering private patios and balconies.

Ridian's comprehensive amenity package distinguishes it from competitors in the immediate market area. The community features a resort-style pool and hot tub, rooftop lounge with 360-degree mountain and city views, fitness center and clubhouse with co-working spaces. Additional amenities include covered garage parking, 24-hour security monitoring and package lockers.

“This refinancing underscores our confidence in the long-term strength of Denver’s fundamentals, particularly within the Highlands submarket,” said Ethan Argov, Managing Director of Capital Markets and Investments at Trailbreak Partners. “It reinforces our focus on delivering boutique luxury in high-barrier-to-entry neighborhoods and positions us to continue creating long-term value for our investors.”

Located in Denver’s highly desirable Highlands neighborhood, Ridian provides residents direct access to Downtown Denver, which is a short five-minute drive. Tenants are also a five-minute walk from both the Lower Highlands neighborhood and the Highland Square shopping district, both of which have an abundance of bars, restaurants and retail amenities. The Highlands is one of Denver’s highest barrier-to-entry neighborhoods and is surrounded by high household incomes and home prices.

The location offers exceptional connectivity to Denver's major employment centers, with downtown Denver's 145,000 jobs accessible within a five-minute drive and Cherry Creek's 18,000 employees reachable in under 15 minutes via major thoroughfares, including Federal Blvd. and Speer Blvd.

The JLL Debt Advisory team was led by Director Rob Bova.

"Ridian is located in one of Denver's most coveted neighborhoods, offering a rare combination of boutique luxury design and irreplaceable location," said Bova. "Ridian's differentiated amenity package and smaller unit count provide residents with a quieter and more exclusive residential micro market."

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 sales and 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 $23.4 billion and operations in over 80 countries around the world, our more than 112,000 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 WAY^SM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.

Trailbreak Partners is a Denver-based real estate development and investment company with a meticulous approach to investing. Their mission is to identify and execute great investment opportunities that their principals and partners personally believe in, managing risk and creating value for all stakeholders. Trailbreak Partners has completed and is currently working on over $1 billion worth of real estate development and investments.  Their investment and syndication platform accesses a wide array of capital that includes ultra-high-net-worth individuals, family offices, and institutional investors. Learn more about Trailbreak Partners at trailbreakpartners.com.