HFF secures $81.9 million financing for 400-unit multi-housing community in Denver
DENVER, CO – March 27, 2017 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has secured $81.9 million in acquisition financing for Skye 2905 Urban Flats (Skye 2905), a 400-unit, Class A multi-housing community in Denver’s North Union Station neighborhood.
HFF worked exclusively on behalf of the borrower, Griffis Residential, to place the 10-year, 3.98-percent, fixed-rate loan with five years of interest only with a correspondent life insurance company.
Located across 20th Street from the Union Station neighborhood and downtown Denver’s only grocery store, King Soopers, Skye 2905 is in the heart of the city’s cultural core. The property is situated on 4.95 acres at 2905 N. Inca Street providing immediate access to major employers in the central business district and abundant dining, entertainment and cultural amenities. Skye 2905 is a five-story building consisting of one-, two- and three-bedroom units wrapped around a five-story parking garage with 2,714 square feet of retail on the ground floor. The property features common area amenities, including a swimming pool; outdoor entertainment lounge with grilling stations; state-of-the-art fitness center with yoga room; indoor lounge with poker room, gaming center, flat-screen TVs and foosball table; and downtown, mountain and Coors Field views. Residences feature nine-foot ceilings, granite countertops, stainless steel appliances, in-unit washers and dryers, soaking bathtubs, walk-in closets and wood plank or polished concrete flooring.
The HFF debt placement team representing Griffis Residential was led by senior managing director Eric Tupler and managing director Josh Simon.
About Griffis Residential
With approximately $1.5 billion in multifamily assets, Griffis Residential is a vertically integrated multifamily real estate investment firm that owns and manages nearly 8,500 Class A apartment units. Target markets include Denver, Seattle, Austin, Portland, and the San Francisco Bay Area. For more information visit GriffisResidential.com.
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, advisory services, loan sales and commercial loan servicing. For more information please visit hfflp.com or follow HFF on Twitter @HFF.