(DENVER) – Hines, the international real estate firm, and partner Trez Capital, announced today it has broken ground on Parterre, a new master-planned community in Thornton, CO, a northeast suburb of Denver, that will include single-family, paired homes and multifamily units, as well as a mix of commercial and retail uses. Spanning across nearly 800 acres, the development will feature nearly 3,000 residential homes in total, spanning the property.
Parterre will offer a one-of-a-kind master-planned community in north Thornton and will offer a variety of housing options for homebuyers. Plans call for a plethora of parks, trails, gardens as well as a signature “Todd Creek Greenway”, the greenbelt of the community.
Other amenities include a spectacular community amenity center with pool, gathering spaces, and work-out facility that cater to the Colorado lifestyle.
“We are thrilled to be starting construction on Parterre today,” said Chad Murphy, managing director at Hines. “With this project, we are creating a signature residential development for people, tenants, residents and neighbors to meet, gather, live, work and enjoy life for generations to come.”
Thornton is one of Denver metro’s most thriving submarkets, less than four miles east of I-25 near key shopping, entertainment and transportation. The property is 20 miles from downtown Denver and will offer the most diverse housing options, including attainably priced housing that will cater to multiple segments of the housing market.
“We are excited to build upon our long-term relationship with Hines and bring Parterre, our 11th project together, to life,” said John D. Hutchinson, President, Central & Southwestern U.S., Trez Capital.
“We are pleased Hines is part of the continued growth in Colorado,” said Jan Kulmann, City of Thornton Mayor. “With their experience in this market and other cities, Hines brings a unique ability to create a vibrant community that sets the standard for quality housing projects in the area.”
The talented team of premier homebuilders assembled for this new signature development include Taylor Morrison Homes and Lennar Homes. New homes are expected to open for sale beginning in late 2022.
Hines is a privately owned global real estate investment firm founded in 1957 with a presence in 240 cities in 27 countries. Hines oversees a portfolio of assets under management valued at approximately $160.9 billion¹, including $81.7 billion in assets under management for which Hines serves as investment manager, and $79.2 billion representing more than 172.9 million square feet of assets for which Hines provides third-party property-level services. Historically, Hines has developed, redeveloped or acquired approximately 1,450 properties, totaling over 485 million square feet. The firm has more than 180 developments currently underway around the world. With extensive experience in investments across the risk spectrum and all property types, and a pioneering commitment to ESG, Hines is one of the largest and most-respected real estate organizations in the world. Visit www.hines.com for more information. ¹Includes both the global Hines organization as well as RIA AUM as of December 31, 2020.
About Trez Capital
Founded in 1997, Trez Capital is a diversified real estate investment firm and preeminent provider of commercial real estate debt financing solutions in Canada and the United States. Trez Capital offers private and institutional investors strategies to invest in a variety of opportunistic, fully secured, high-yield mortgage investment funds, and provides property developers and owners with quick approvals on flexible short- to mid-term financing.
With offices in Vancouver, Toronto, Dallas, Atlanta and Palm Beach, Trez Capital has over $3.9 billion in assets under management and has funded over 1,500 transactions totaling more than $12.5 billion since inception. From its Dallas headquarters, Trez Capital has financed more than $3 billion in real estate projects in the U.S. since 20211.
For more information, visit www.trezcapital.com.