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Phoenix & Southwest   /   October 13, 2020

Dennis Kaiser
By: Dennis Kaiser

Cresset-Hines Advance 11-Story Denver Opportunity Zone Development

Cresset Partners and Diversified Real Estate Capital closed a loan allowing construction to start on the Residences at RiNo multifamily development in Denver. This Cresset Diversified QOZ Fund (Fund I) investment marks the fourth joint venture between Cresset Diversified and Hines, representing more than $750 million in opportunity zone developments around the country.

Residences at RiNo is a build-to-core multifamily real estate project located in North Wynkoop, a premier master-planned district. It is the only available multifamily development site within the master plan, which is located in a qualified opportunity zone just north of Downtown Denver. The property will be an 11-story, mid-rise residential building with 397 units, ranging between 542 and 1,715 square feet.

Cresset’s Avy Stein says, “This project’s positioning in the River North neighborhood of Denver, which is set to see an influx of growth, provides a one-of-a kind exclusive opportunity for our investors.”

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Dennis Kaiser is Vice President of Content and Public Relations for Connect Commercial Real Estate. Dennis is a communications leader with more than 30 years of experience.
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