HFF arranges $8.55 million financing for Colorado Springs multi-housing property
DENVER, CO – January 10, 2017 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has arranged $8.55 million in financing for Fillmore Ridge, a 114-unit, garden-style multi-housing property in Colorado Springs, Colorado.
HFF worked on behalf of the borrower, Blueline Equity Partners, to secure the 10-year, fixed-rate acquisition loan with five years of interest only through Freddie Mac’s (Federal Home Loan Mortgage Corporation) CME Program. The securitized loan will be serviced by HFF, a Freddie Mac Multifamily Approved Seller/Servicer for Conventional Loans.
Fillmore Ridge is located at 3210 North Chestnut Street just west of Interstate 25 in Colorado Springs. The property’s location along one of Colorado Springs’ main north-south thoroughfares provides great visibility and easy access into the central business district to the south and the University of Colorado Springs campus to the north. Originally built in 1965 and recently renovated, the property comprises studio, one-, two- and three-bedroom units ranging from 375 to 910 square feet. Community amenities include a swimming pool, fitness center, business center and laundry facility. The property was 99 percent leased at the time of closing.
The HFF debt placement team representing the borrower was led by associate director Kristian Lichtenfels.
About Blueline Equity Partners
Blueline Equity Partners (Blueline) is a Denver-based full service private real estate investment firm specializing in acquisition, redevelopment, management and disposition of multifamily properties. Founded in 2007, Blueline owns properties in Denver, Longmont, Greeley, Evans, Colorado Springs, Fraser and Crested Butte.
HFF and HFFS (HFF Securities L.P.) are owned by HFF, Inc. (NYSE: HF). HFF operates out of 23 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.