HFF secures $3.601 million refinancing for Colorado Springs, Colorado, apartment property
DENVER, CO – December 1, 2016 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has secured a $3.601 million refinancing for Alvarado Place, a 99-unit apartment property in Colorado Springs, Colorado.
HFF worked on behalf of AP Investment Group, LLC, an affiliate of Radford Investment Properties, to secure the seven-year, 2.29 percent over 30-day LIBOR, floating-rate loan for $3.601 million. The interest-only loan is 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.
Alvarado Place is positioned near major Colorado Springs thoroughfares, including Fountain Boulevard, Powers Boulevard and Interstate 25. Situated at 1465 Alvarado Drive, the community shares a property line with the U.S. Post Office and is directly east of the Leon Young Sports Complex. The property has studio, one- and two-bedroom units averaging 519 square feet each housed within five, two-story residential buildings.
The HFF debt placement team representing the borrower was led by associate director Brock Yaffe.
About Radford Investment Properties
Since 2001, Radford Investment Properties (Radford) has provided the highest level of quality, service and investment returns to its clients and investors. The firm’s portfolio of currently owned and managed investments consists of approximately 800 units. The distinguishing feature of the portfolio is its potential for repositioning via value-add renovations or other means. The firm’s geographic area of expertise is in Colorado with a specialty in Metro Denver and Colorado Springs. Radford’s goal is to provide the highest return possible to investors and clients by being the best and most innovative investor, owner and re-developer of quality real estate assets in the markets in which it operates. Radford’s ability to achieve this goal is rooted in the firm’s commitment to quality. The combination of experience, project expertise and management process is the foundation of the firm’s ability to provide clients and investors with the highest level of service. Additionally, this foundation provides Radford the unique ability to execute projects of all sizes and virtually unlimited complexity. Radford has always delivered above and beyond the services required to perform the task. In addition, the principals of the firm are directly involved in the day-to-day operation of the organization. The result is strong relationships with leading investment brokerage firms, the multifamily lending community, construction companies, private investment firms and its own investors.
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.