HFF arranges $8.8 million refinancing for retail center in Colorado Springs, Colorado
DENVER, CO – August 14, 2017 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it arranged an $8.8 million refinancing for Rampart Village Center, a five-building retail center totaling 96,296 square feet in Colorado Springs, Colorado.
HFF worked on behalf of the borrower, Vintage Companies, to place the 10-year, fixed-rate loan with a CMBS lender. The securitized loan will be used to refinance an existing, maturing loan.
Rampart Village Center is a 93.24-percent-leased, Gold’s Gym-anchored retail center in northern Colorado Springs. Located at 7601-7689 North Union Boulevard, the center is easily accessible via Interstate 25, Highway 21 and Academy Boulevard. Rampart Village Center services the growing Briargate neighborhood, which has more than 100,000 residents earning an average annual household income of approximately $100,000 living within a three-mile radius of the center.
HFF’s debt placement team was led by director Leon McBroom.
“The borrower was the original developer and has owned the property for more than 30 years,” McBroom said. “This refinancing will allow the borrower to continue to own this well-performing retail asset within the Briargate community, which the borrower calls home.”
About Vintage Companies
Vintage Communities, Inc., founded in 1977, is a full service real estate planning, development, marketing, and property management company. Its team of professionals offer many years of experience in all phases of real estate operations, and are recognized for their proven success in both residential and commercial development. This success is highlighted by the almost 6,000 families currently living in the award-winning Briargate and Peregrine communities. These developments represent approximately 11,000 master-planned acres and include schools, churches, shopping, recreation, employment and a wide range of housing choices. A large share of the new business growth in Colorado Springs is also centered within or adjacent to its communities. Since 1977, Vintage Communities has developed more than 6,000 residential lots, over 100 miles of roadway, a 430-acre "Class A" business campus, the championship Pine Creek Golf Course, a privately funded inter-change on 1-25 and a number of office, retail sites and buildings. Vintage Communities has years of experience in working successfully with consultants, governmental agencies and citizen's groups in obtaining the necessary approvals – from initial concept to final design – for platting residential and commercial property. Vintage Communities is committed to providing the best planning, development, marketing and management services available in the Pikes Peak region.
Holliday Fenoglio Fowler, L.P., HFF Real Estate Limited (collectively, “HFF”), HFF Securities L.P. and HFF Securities Limited (collectively, “HFFS”) are owned by HFF, Inc. (NYSE: HF). HFF and its affiliates operate out of 24 offices and are a leading provider of commercial real estate and capital markets services to the global commercial real estate industry. HFF, together with its affiliates, offers clients a fully integrated capital markets platform including debt placement, investment sales, equity placement, funds marketing, M&A and corporate advisory, loan sales and loan servicing. For more information please visit hfflp.com or follow HFF on Twitter @HFF.