HFF secures $41.9 million refinancing for Colorado Springs apartments
DENVER, CO – April 11, 2017 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has secured a $41.9 million refinancing for Advenir at Spring Canyon, a 292-unit, garden-style apartment community in Colorado Springs, Colorado.
HFF worked exclusively on behalf of Advenir, Inc. and Dome Equities to place the seven-year, floating-rate loan with Freddie Mac’s Green Program. The securitized loan will be serviced by HFF, a Freddie Mac Multifamily Approved Seller/Servicer for Conventional Loans.
Advenir at Spring Canyon is located at 4510 Spring Canyon Heights about two miles north of the Garden of the Gods and two miles west of Interstate 25. The property is approximately 95 percent leased and consists of 292 one-, two- and three-bedroom floor plans housed within 19 two- and three-story residential buildings. Units feature upgraded kitchens, in-unit washers and dryers, gas fireplaces, intrusion alarms and upgraded lighting and fixtures. Community amenities include an outdoor swimming pool, indoor spa, dry sauna, grilling area, tot lot, bark park, basketball court, clubhouse, fitness center, business center, access to nearby parks and trails and views of the Rocky Mountains.
The HFF debt placement team representing the borrower was led by senior managing director Eric Tupler and managing director Josh Simon.
About Advenir, Inc.
Founded in 1996, Advenir, Inc. is a real estate investment company headquartered in Aventura, Florida (Miami-Dade). Advenir acquires and operates income multifamily rental communities throughout the United States, on behalf of high-net-worth and institutional investors. Since inception, Advenir has owned and operated 22,000 multifamily units valued at just under $3.3 billion. Advenir’s current portfolio consists of 11,500 apartment units valued at more than $1.7 billion. In addition to Advenir, Inc., Advenir has a Property Management Company with 315 employees and regional offices in Florida, Texas and Colorado; and a Construction Management Company focused on multifamily development and rehabilitation.
Holliday Fenoglio Fowler, L.P. (“HFF”), HFF Securities L.P. and HFF Securities Limited (collectively, “HFFS”) are owned by HFF, Inc. (NYSE: HF). HFF operates out of 24 offices and is 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.