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| The Trails at Timberline, 2451 South Timberline Road, Fort Collins, CO |
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| Eric Tupler |
DENVER, CO – HFF announced it has secured $46.725 million in
financing for the recently completed The Trails at Timberline, a
314-unit luxury lifestyle apartment community developed by McWhinney in Fort Collins, Colorado.
Working on behalf of DTMF Investments, LLC, an affiliate of McWhinney,
HFF placed the 30-year, 4.42 percent fixed-rate Fannie Mae loan with M&T
Realty Capital Corporation.
The loan
has a two-year, interest-only period, and is taking out a construction loan on
the property.
The
Trails at Timberline is situated on a 16.09-acre site at 2451 S. Timberline
Road, close to major Fort Collins and Front Range employers, Colorado State
University, Old Town Fort Collins, Foothills Mall and the Front Range Village
shopping center.
Completed in 2014,
Trails at Timberline has 12 residential buildings with studio through
three-bedroom units averaging 896 square feet each.
 |
| Brock Yaffe |
Community amenities
include a resort-style pool, two-lane bowling alley, fitness center, 3D theatre
room, gourmet community kitchen, outdoor barbecue/fire pit area and HD golf
simulator.
The property also promotes a
strong sense of community with weekly event programming including yoga classes,
themed happy hours and special holiday gatherings. The Trails at Timberline is 98 percent occupied.
The HFF debt placement team representing the borrower was
led by senior managing director Eric Tupler, associate director Brock
Yaffe and real estate analyst Matt Gangaware.
“HFF
and M & T Realty Capital Corporation provided DTMF Investments, LLC the
most competitive financing terms available in the market in a streamlined and
timely manner reflecting The Trails at Timberline’s superb attributes and
operating performance,” said McWhinney Vice President of Finance Joshua Kane.
For a complete copy of the company’s news release, please
contact:
Olivia Hennessey
Public Relations Coordinator
HFF | 9 Greenway Plaza, Suite 700 | Houston, TX 77046
tel 713.852.3403 | fax 713.527.8725 | www.hfflp.com
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