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| The Parc at Cherry Creek Apartments, 7555 East Warren Drive, Southeast Denver, CO |
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| Josh Simon |
DENVER, CO – Holliday Fenoglio Fowler, L.P. (HFF)
announced it has secured $45 million in financing for The Parc at Cherry Creek, a 408-unit, garden-style apartment
community in Denver, Colorado.
HFF worked
on behalf of PCC Partners LLC and Iron River Management, LLC to secure the
10-year, 3.89-percent, fixed-rate loan with five years interest only through
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.
The Parc at
Cherry Creek offers three floor plans ranging from 782 to 1,089 square
feet. Community amenities include a
24-hour fitness center, pool and spa, gas grills in the pool area, tennis and
basketball courts, sand volleyball court, DVD library,clubhouse, detached
garages, gas fire pit and internet café with Wi-Fi.
Situated on almost 20 acres at 7555 East Warren Drive in southeast
Denver, the community is within walking distance to retail shops, restaurants
and Cherry Creek Country Club about 7.4 miles from downtown Denver.
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| Kristian Lichtenfels |
The HFF debt
placement team representing the borrower was led by managing director Josh Simon and real estate analyst Kristian Lichtenfels.
“Given that
we are witnessing the sunset of the currently favorable interest rate
environment, it’s smart business for our team to make this move,” said Jonathan Ringham, manager of PCC
Partners, LLC and president of Iron River Management, LLC.
“Locking in this low rate for the next decade
provides enormous flexibility in our future operations. HFF was instrumental to us as a partner in
getting this deal done from beginning to end.”
For a complete copy of the company’s
news release, please contact:
Kristen M.
Murphy
Associate
Director
HFF | One
Post Office Square, Suite 3500 | Boston, MA 02109
Main:
617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 | www.hfflp.com
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