Monday, October 8, 2018

HFF announces $50 million financing for luxury mixed-use property in Denver, CO


210 St Paul, the first phase of The St Paul Collection (www.stpaulcollection.com),
Cherry Creek North neighborhood, Denver, CO

Brock Yaffe
DENVER, CO –– Holliday Fenoglio Fowler, L.P. (HFF) announces $50 million in financing for 210 St Paul, the first phase of The St Paul Collection (www.stpaulcollection.com), an iconic mid-rise, mixed-use residential and retail property in Denver’s Cherry Creek North neighborhood.

 The HFF team worked on behalf of BMC Investments to secure the 11-year, non-recourse, full-term, interest-only fixed-rate loan through Freddie Mac’s Lease-Up Loan Program.  

The loan will replace existing construction financing and will be serviced by HFF, a Freddie Mac Multifamily Approved Seller/Servicer for Conventional Loans.

 The HFF debt placement team representing the borrower consisted of director Brock Yaffe.

 “Working with the HFF team in concert with Freddie Mac is a pleasure.” said Max Bresner, BMC’s Chief Operating Officer.  “HFF executed at a high level and procured very attractive long-term financing for this asset. 

 "Located in the heart of Cherry Creek, Denver’s most premiere submarket, we believe this asset enriches the neighborhood and sets a new standard in rental luxury living.”

Max Bresner
 The St Paul Collection is a two-phase development located at the intersection of St Paul Street and 2nd Avenue amid more than 2.5 million square feet of retail within walking distance to the property. 

The property’s central location also gives nearby access to major employers in Cherry Creek and Denver’s CBD.  

Completed in June, 210 St. Paul comprises 81 luxury residences in a mix of one-, two- and three-bedroom floor plans as well as penthouses ranging in size from 770 to 2,800 square feet. 

The property also includes 11,000 square feet of retail leased to CB2, Crate & Barrel’s fresh approach to furnishings & d├ęcor.  The second phase, which is not part of this financing, will add an additional 84 residential units and 44,000 square feet of retail space.

   
CONTACTS:

BROCK YAFFE
HFF Director
(303) 515-8000

OLIVIA HENNESSEY
HFF Public Relations Specialist
(713) 852-3500


No comments: