DENVER-L.J. Melody & Co. has arranged $30 million in financing for the Breakers Apartments, the first new breed of luxury apartments in the Denver area.

L.J. Melody, which is owned by CB Richard Ellis, is providing the funding through CIGNA to the two Denver owners and developers of the project, the Feld Co. and the Koelbel Co.The Breakers is a master-planned apartment community on 145 acres along E. Mississippi Avenue in southeast Denver. The five-unit, 1,523-unit development surrounds a landscaped 50-acre lake and a 26,000-sf clubhouse and recreational facility.

Construction started in 1990, when the Denver economy was still reeling from the collapse in energy prices. At the time, it was the first large-scale apartment community built here in about a decade. And it brought amenities such as the lavish clubhouse and attached parking garages to the area, which are now common, but hadn’t been built before in Denver.

Many professional athletes favor the Breakers when they first come to Denver. A lot of athletes rent there until they either buy a home or are traded to another team.

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