Acquisition financing for 58-unit multi-housing community in suburban Denver arranged by HFF
DENVER, CO – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has arranged acquisition financing for Village West, a 58-unit multi-housing community in Arvada, Colorado.
HFF worked on behalf of the borrower, 29th Street Capital, to place the seven-year, floating-rate loan with Freddie Mac’s (Federal Home Loan Mortgage Corporation) CME Program. The securitized loan will be serviced by HFF through its Freddie Mac Program Plus® Seller/Servicer program.
Village West is located off West 58th Avenue between Kipling and Ward Road near a multitude of retail, entertainment and recreational amenities. The property, which is approximately 12.5 miles northwest of downtown Denver, has one- and two-bedroom units averaging 933 square feet each. All units feature large balconies with views of the nearby foothills. Community amenities include a heated indoor pool, barbecue/picnic area and laundry facilities.
The HFF debt placement team representing the borrower was led by associate director Leon McBroom.
About 29th Street Capital 29th Street Capital is a privately-held real estate investment firm based in Irvine, California. The firm was founded in 2009 to capitalize on the dislocation in the United States real estate markets, and the partners continue to manage the firm as a dynamic and entrepreneurial business. Since its inception, the firm has invested more than $1 billion and has a rental portfolio of more than 2,000 single-family residences valued at approximately $500 million, has acquired 30 multifamily properties totaling more than 5,000 units in eight states and has purchased nearly $120 million of non-performing loans within the last 18 months.
About HFF 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.