Wednesday, January 20, 2016

HFF secures $31.2 million acquisition financing for 345-unit multi-housing community in Denver, CO

Villas at Parker, 1090 South Parker Drive, Denver, CO

Josh Simon
DENVER, CO – Holliday Fenoglio Fowler, L.P. (HFF) announced it has arranged $31.2 million in acquisition financing for Villas at Parker, a 345-unit, garden-style multi-housing community in Denver, Colorado.

HFF worked on behalf of the borrower, Advenir, Inc., to place the seven-year, 2.69-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@Cherry Creek North and will implement a capital improvement program to achieve greater rental premiums.

Villas at Parker has studio, one- and two-bedroom units averaging 724 square feet.  The 96-percent-leased community consists of 15 buildings plus a clubhouse and features a heated outdoor swimming pool, business center, fitness center, park and playground area, picnic areas and covered parking.

 Situated on 17.36 acres at 1090 South Parker Drive, Villas at Parker is located in southwest Denver with immediate access to the High Line Canal Trail, Denver’s 850-mile network of hiking and biking trails.  The Cherry Creek Trail is within one mile of the property and provides direct access to the Cherry Creek Mall. 

Eric Tupler
The property is approximately seven miles from Denver’s central business district, and the community is near several employment centers, including Buckley Air Force Base, Children's Hospital Colorado Anschutz Medical Campus and Denver Tech Center, which are all within 6.5 to 9 miles from the property. 

Additionally, the community is 3.5 miles from the Colorado Light Rail Station on the Southeast Rail Line.

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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