Wednesday, September 30, 2015

HFF secures $41.8 million financing for 351-unit multi-housing community in Aurora, CO

Del Arte Lofts and Flats, 151 South Joliet Circle, Aurora, CO

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 |

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