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| Del Arte Lofts and Flats, 151 South Joliet Circle, Aurora, CO |
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| Josh Simon |
DENVER, CO – Holliday
Fenoglio Fowler, L.P. (HFF) announced it has arranged $41.8 million in
financing for Del Arte Lofts and Flats,
a 351-unit multi-housing community in Aurora, Colorado.
HFF worked on behalf of
the borrower, Advenir, Inc., to place the seven-year, 2.28 percent,
adjustable-rate loan with three years interest only with Freddie Mac’s (Federal
Home Loan Mortgage Corporation) CME Program.
The securitized loan will
be serviced by HFF through its Freddie Mac Program Plus® Seller/Servicer
program. Loan proceeds were used to
acquire the asset.
Advenir will rebrand
the property as Advenir at Del Arte and will implement a minor capital
improvement program to achieve greater rental premiums.
Del Arte Lofts and Flats
is located at 151 South Joliet Circle
in Aurora, approximately nine miles southeast of Denver’s central business
district. The 93-percent-leased property
is near the Lowry Air Force Base and the 578-acre Fitzsimons/Anschutz Medical
Campus.
The community has one-,
two- and three-bedroom units and amenities such as a resort-style swimming
pool, hot tub, state-of-the-art fitness center, newly-designed clubhouse with
business center and access to nearby jogging trails.
The HFF debt placement team
representing the borrower was led by Josh Simon and Eric 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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