HFF secures $21.925 million financing for 2 Denver multi-housing communities
DENVER, CO – August 1, 2017 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has secured financing totaling $21.925 million for Coronado Crossing and Valley Park Village, two Denver, Colorado, multi-housing communities comprising 388 units.
Working exclusively on behalf of Boulder, Colorado-based Mountain View Capital, LLC, HFF secured two seven-year, floating-rate loans in separate transactions through Freddie Mac’s CME Program. The securitized loan will be serviced by HFF, a Freddie Mac Multifamily Approved Seller/Servicer for Conventional Loans.
Coronado Crossing comprises five three- and four-story residential buildings consisting of a mix of one- and two-bedroom units totaling 106,500 rentable square feet. The property is located approximately 8.2 miles north of downtown Denver at 7030-7070 N. Pecos Street just south of U.S. Highway 36 and to the west of Interstate 25. The 97-percent-leased property has a swimming pool, courtyards, sport court and a small playground.
Valley Park Village comprises 14 one- and two-story buildings encompassing a variety of studio, one-, two- and three-bedroom floor plans totaling 136,094 rentable square feet. The property is located less than five miles from Denver’s CBD at 629-645 Wolff Street near the northeast corner of Sheridan Boulevard and W. 6th Avenue close to the light rail and multiple retail amenities. Community features include a heated outdoor swimming pool and multiple open green spaces and grilling areas. The property is 98 percent leased.
The HFF debt placement team representing the borrower was led by managing director Josh Simon and director Kristian Lichtenfels.
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.