Done Deals: HFF arranges $22.5 million financing for Regency at RidgeGate in suburban Denver, CO

Wednesday, September 4, 2013

HFF arranges $22.5 million financing for Regency at RidgeGate in suburban Denver, CO

Regency at RidgeGate apartments, 10320 Commonwealth Street, Lone Tree, CO

Lisa Evans

DENVER, CO – HFF announced today that it has arranged $22.5 million in financing for the Regency at RidgeGate, a 208-unit, Class A multi-housing community in Lone Tree, Colorado.

HFF worked exclusively on behalf of Regency Residential Partners, LLC (“Regency”) to secure the 25-year, fully amortizing loan at a fixed-rate of 4.55 percent through Nationwide Insurance, a correspondent lender. The loan was funded prior to full stabilization and proceeds will replace maturing construction financing on the property.

Eric Tupler

Completed in August 2013, Regency at RidgeGate has 187 one- and two-bedroom garden-style units and 21 two- and three-bedroom townhomes.

The community was 88.5 percent leased at the time of funding and features amenities such as a swimming pool with sun deck, barbecue and fire pit, fitness center with yoga room, business center, club house and pet care facility.

The property is located at 10320 Commonwealth Street near the intersection of RidgeGate Parkway and Lincoln Road, proximate to the Sky Ridge Medical Center, South Suburban Recreation Center, The Lone Tree Performing Arts Center and Interstate 25.

Josh Simon

The HFF team representing the seller was led by senior managing director Eric Tupler, director Josh Simon and real estate analyst Leon McBroom.

“Regency at RidgeGate is performing exceptionally well and we are very pleased. It was great to find partners in HFF and Nationwide Insurance who appreciated the quality and project design,” commented Regency managing director Lisa Evans.

Regency is headquartered in Denver, Colorado. Regency specializes in the acquisition and development of well-located apartment complexes in the western United States.