Done Deals: HFF arranges $12 million financing for Cottonwood Creek Apartments in Denver, CO

Thursday, January 16, 2014

HFF arranges $12 million financing for Cottonwood Creek Apartments in Denver, CO

Cottonwood Creek Apartments, 8801 West Belleview Avenue, Denver, CO

Eric Tupler

DENVER, CO – HFF announced today that it has arranged $12 million in financing for Cottonwood Creek Apartments, a 168-unit, garden-style multi-housing community in Denver, Colorado.

HFF worked exclusively on behalf of RedPeak Properties, LLC to secure the five-year, 3.62 percent, fixed-rate loan through a national bank. Loan proceeds will refinance maturing debt on the property.

Situated on approximately 7.3 acres, Cottonwood Creek is located at 8801 West Belleview Avenue in Denver’s Lakewood-South submarket.

The eight-building property is 98 percent leased and includes one- and two-bedroom units averaging 771 square feet each. Community amenities include a clubhouse, fitness center, picnic/barbecue area, cyber café, swimming pool and spa.

Josh Simon

The HFF team representing the borrower was led by senior managing director Eric Tupler, director Josh Simon and real estate analyst Jared Buffington.

RedPeak Properties is a full-service apartment owner, operator, developer and acquirer with an exclusive focus on Denver and Colorado’s Front Range.

The company continually upgrades the value of its portfolio through the thoughtful development, redevelopment and repositioning of its assets.

RedPeak strives to provide distinctive, highly amenitized residences close to key employment centers, public transportation and entertainment districts.

RedPeak Properties’ portfolio is comprised of more than 2,000 units located in Capitol Hill, Cherry Creek, City Park, Downtown Denver, Greenwood Village, Littleton, Northwest Denver, Hilltop and Washington Park. www.redpeak.com.