Tuesday, April 7, 2015

HFF secures $40 million financing for apartment community in Denver’s Cherry Creek area

Jennifer L. Keller
NEW YORK, NY – HFF announced today that it has secured $40 million in financing for Broadstone Gardens at Cherry Creek, a 191-unit, Class A apartment community in Denver’s Cherry Creek area.
                Working on behalf of institutional investors advised by J.P. Morgan Asset Management, HFF placed the short-term, floating-rate loan with Wells Fargo.
                Completed in 2014, Broadstone Gardens at Cherry Creek is a LEED Gold property located on the southwest corner of Harrison Street and East Cedar Avenue within walking distance to Cherry Creek Mall and the Cherry Creek North shopping district. 

Mike Tepedino
The property has one-, two- and three-bedroom floor plans averaging 991 square feet each. 
 Community amenities include a clubhouse with conference room and kitchen, coffee bar, resident gardening plots, electric car charging station, fully-equipped fitness center with CrossFit Studio, outdoor grills, resort-style swimming pool, rooftop lounge and an on-site recycling program.
The HFF debt placement team representing the borrower was led by senior managing directors Mike Tepedino and Eric Tupler, director Jennifer Keller and associate director Leon McBroom.

Eric Tupler
“The property’s quality and location in the heart of Cherry Creek, Denver’s premier residential neighborhood, generated very strong lender interest in the financing, despite the property still undergoing full stabilization,” said Tupler.

For a complete copy of the company’s news release, please contact:

Olivia Hennessey
Public Relations Coordinator
HFF | 9 Greenway Plaza Suite 700 | Houston, Texas 77046
tel 713.852.3403 | fax 713.527.8725 | www.hfflp.com

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