National and PM Realty Group Break Ground on Luxury Multifamily High-Rise in Denver
Joint venture partners National Real Estate Advisors (National) and PM Realty Group (PMRG) announced today that construction has begun on The Confluence, a 34-story ultra-luxury multi-family high rise tower.
Named for its location at the confluence of the South Platte River and Cherry Creek, the for-rent 288-unit residential building is situated on a 1.21 acre site at 2166 15th Street. The Confluence will feature studio, one, two, and three bedroom homes with pricing ranging from $1,500 to $12,000 per month.
“National seeks to develop and invest in transformative, modern assets in major U.S. urban markets,” said Jeff Kanne, President and CEO of National Real Estate Advisors. “The Confluence will increase economic and employment opportunities and we expect it to be a valuable investment benefitting our fund investors.”
“There is a growing demand for luxury multifamily living in urban areas throughout Denver,” said Bryant Nail, Executive Vice President of PMRG. “Access to the Riverfront Park area is in high demand due to its prime infill location. The high rise tower is located adjacent to the South Platte River and possesses views over Confluence and River Front Park. Positioned within the LoDo submarket, the site provides an ideal balance between the serenity of the River Front Park area while maintaining convenient access to the energized core of the LoDo entertainment district and the employment center in the CBD of Denver.”
The multifamily high-rise, designed by GDA architects, will be the tallest building in Riverfront Park. The glass apartment tower will feature state-of-the-art amenities such as a large terrace with a saltwater infinity-edge pool, underwater sound system, heated Jacuzzi, outdoor cabanas and fire pit, Skyline Lounge with catering kitchen, all-inclusive fitness center with top of the line equipment, concierge, dog washing station and 24-hour coffee bar. Interior amenities include: floor to ceiling windows in select homes, hardwood floors, solar shades in every home, gourmet kitchens with granite countertops with full-height backsplashes and Frigidaire Professional Gallery/Electrolux appliances. Select homes, including all Penthouse residences, feature direct elevator access. The Penthouse residences come complete with an Icon appliance package and private terraces in excess of 800 SF. All homes have stunning views of downtown Denver and/or the Rocky Mountains. The ground floor is intergraded into Confluence Park with over 8,000 square feet of high-end ground floor retail and restaurant space with access to the trails along Cherry Creek and the South Platte River.
About National Real Estate Advisors
National Real Estate Advisors has more than $2 billion in assets under management for pension plan sponsors, investing in major U.S. urban markets using a build-to-core strategy. The company undertakes large-scale development and redevelopment projects in its open-end fund and separate account, building investment portfolios of stabilized modern property assets—apartment, office, mixed-use, industrial, data centers and hotels—with design features, technological enhancements, and amenities that can drive high tenant demand and create value over time. An SEC registered advisor, the firm is a subsidiary of the National Electrical Benefit Fund, a $12 billion pension plan sponsor. For more information visit, www.natadvisors.com.
About PM Realty Group
Headquartered in Houston, Texas, PM Realty Group (PMRG) is one of the nation’s leading real estate companies focusing on comprehensive property services, development and acquisitions. With a strategic presence in 30 markets, PMRG provides the highest quality services to its clients and investors. PMRG’s clients and investors include large financial institutions, advisors and high net worth individuals. By capitalizing on the team’s experience and expertise, PMRG has the ability to undertake large and challenging management, leasing, development and acquisition projects.
PMRG’s portfolio, including projects managed for third parties, includes commercial office buildings, mixed-use centers, corporate headquarters, industrial buildings, medical facilities, high-rise multifamily buildings and re-appropriated military facilities. Our goal is to generate exceptional returns for our clients and investors by focusing on real estate fundamentals. For additional information, visit www.pmrg.com.