Saturday, July 1, 2017

HFF closes $57.8 million sale of and arranges $46 million financing for 312-unit multi-housing community in suburban Denver, CO

Silver Cliff Apartments, 5725 South Delaware Street, Englewood, CO

Jordan Robbins
DENVER, CO –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the $57.8 million sale of and arranged $46 million in acquisition financing for Silver Cliff, a 312-unit, garden-style multi-housing community in the south Denver suburb of Englewood, Colorado.

HFF marketed the asset exclusively on behalf of Weidner Apartment Homes.  Phoenix Realty Group (PRG), a national multifamily real estate fund manager, investor, operator and developer, purchased the unencumbered property jointly with a third-party family office and discretionary-affiliated investment vehicle. 

Additionally, working on behalf of the new owner, HFF placed the seven-year, fixed-rate loan with three years of interest only amortization with Freddie Mac’s (Federal Home Loan Mortgage Corporation) CME Program.  

The securitized loan allows flexible prepayment in year six to seven and will be serviced by HFF, a Freddie Mac Multifamily Approved Seller/Servicer for Conventional Loans.

Silver Cliff is situated on approximately 10.6 acres at 5275 South Delaware Street just west of the intersection of South Broadway and Belleview Avenue.  Bounded by two of the region’s most affluent suburbs, Greenwood Village and Littleton, the community is proximate to numerous parks, major retailers, the South Broadway corridor and RTD Light Rail service. 

Anna Stevens

Silver Cliff has nine residential buildings consisting of one- and two-bedroom units averaging 815 square feet along with a full suite of amenities, including a swimming pool, dog run, playground, 24-hour fitness center, garages and carports and sweeping views of the Rocky Mountains.  The property was 97 percent leased at closing.

Jeff Haag
 The HFF investment sales team representing the seller was led by managing director Jordan Robbins and associate directors Jeff Haag and Anna Stevens.

HFF’s debt placement team representing the new owner was led by managing director Josh Simon.

Weidner Apartment Homes was founded in 1977 by Dean Weidner.  With a commitment to providing quality apartment home living for all of its residents, Weidner Apartment Homes is currently ranked 17th on NMHC’s top 50 list of apartment management companies and has 48,000 units throughout the U.S. and Canada

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

Olivia Hennessey
Public Relations Specialist
HFF | 9 Greenway Plaza, Suite 700 | Houston, Texas 77046
tel 713.852.3403 | fax 713.527.8725 |

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