Banyan Secures $73M Loan to Build 399-Unit Denver Rental Property

Banyan Residential plans to build a 399-unit multifamily building at Picadilly Road and East 65th Avenue, just east of the Gaylord Rockies Resort & Convention Center. The project, called Banyan High Point, is breaking ground at the nearly 14-acre site early next month, with plans to wrap up construction in early 2025. It’s the companies first foray into Denver.

Amenities at Banyan High Point will include a pool, deck, fitness center on multiple levels and dog park. Future tenants can choose from one-bedroom, two-bedroom and three-bedroom units. W Partnership is the architect. 

The Denver Business Journal reports an LLC associated with Banyan Residential’s Los Angeles address purchased a parcel of land for $4.8 million last September. The seller of the land was Glendale-based Westside Investment Partners. The project has secured a $73 million construction loan from UMB Bank. Utah-based Bridge Investment Group is also a co-developer of the project with Banyan Residential.