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| One City Block Apartments, Downtown Denver, CO |
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| Eric Tupler |
DENVER, CO – HFF announced it has secured $57 million in
financing for One City Block, a newly built, 302-unit, Class A
multi-housing community in downtown Denver.
Working on behalf of RedPeak Properties, HFF placed the fixed-rate loan
with Cornerstone Real Estate Advisers LLC acting on behalf of an institutional
client. The loan proceeds will be used
to replace the borrower’s existing construction loan.
One City Block encompasses a full city block bounded by East
19th Avenue to the north, Pennsylvania Street to the east, East 18th Avenue to
the south and Logan Street to the west in downtown Denver’s Uptown
neighborhood.
Completed in January 2014, the property includes 207,598
rentable square feet of residential space and 10,035 square of ground floor
retail.
The four-story, LEED-certified
property stabilized in less than a year and is 95 percent leased.
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| Josh Simon |
One City Block has a
mix of studio, one- and two-bedroom floor plans and amenities including a lap
pool with sun deck and hot tub, grilling areas, fire pit, sport court with
practice putting green, four rooftop terraces, fitness center, yoga studio,
game room with ping pong and pool table, demonstration kitchen, onsite bike
repair shop and pet spa.
“This
refinancing was a very pleasant experience for our organization. HFF provided RedPeak with a wide range of
very competitive options, and Cornerstone was terrific to work with.
" We look forward to doing more business with
both parties in the future,” said Mike Zoellner from RedPeak Properties.
The
HFF team representing the borrower was led by senior managing director Eric
Tupler, managing director Josh Simon and analyst Leon McBroom.
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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