$49.5 million financing for Liberty Creek Apartments in Aurora, Colorado, arranged by HFF
DENVER, CO – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has arranged $49.5 million in financing for Liberty Creek Apartments, a 584-unit, garden-style multi-housing community in the east Denver suburb of Aurora, Colorado.
HFF worked on behalf of the borrower, BMC Investments (BMC), to place the 10-year acquisition financing with Freddie Mac’s (Federal Home Loan Mortgage Corporation) CME Program. The securitized loan has a fixed-rate of 4.14 percent with five years of interest only. In addition, the loan will be serviced by HFF through its Freddie Mac Program Plus® Seller/Servicer program.
Liberty Creek Apartments is located at 13100 East Kansas Drive in Aurora with nearby access to Interstate 225. The property has 42 two-story buildings that house one- and two-bedroom units ranging from 653 to 882 square feet. Community amenities include three heated swimming pools, basketball and tennis courts, fitness center, playground, grilling areas, business center and clubhouse.
The HFF debt placement team representing BMC was led by associate director Brock Yaffe.
“Working with Brock Yaffe and the HFF team made for a seamless loan process on what was a very complicated transaction. We value the relationship with HFF and are excited about owning another asset in the central Aurora submarket,” said Matthew Joblon, Chief Executive Officer for BMC Investments. “Liberty Creek made for an ideal opportunity to purchase, reposition, own and operate the property for the long-term, which is consistent with our business plan,” added Joblon.
About BMC Investments
BMC Investments (BMC) has built a vertically integrated investment, development and property management platform across a variety of asset classes. BMC has leveraged its principals’ development and investment expertise and currently owns and manages a 3,500-unit multifamily portfolio valued at more than $400 million along with more than $500 million of development projects under construction or in the planning stages. Headquartered in Cherry Creek, BMC has grown to more than 100 employees and strives for industry best practices through disciplined acquisition standards and a fully integrated investment, development and asset management platform, together with its property management affiliate, BLDG Management.
HFF and HFFS (HFF Securities L.P.) are owned by HFF, Inc. (NYSE: HF). HFF operates out of 22 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry. HFF together with its affiliate HFFS offer clients a fully integrated national capital markets platform including debt placement, investment sales, equity placement, advisory services, loan sales and commercial loan servicing. For more information please visit hfflp.com or follow HFF on Twitter @HFF.