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| Josh Simon |
DENVER, CO, Aug. 10, 2015
– Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has secured
$14.25 million in financing for the Phenix
at Infinity Park II, a 131-unit, newly-renovated multi-housing property in
Glendale, Colorado.
Working on behalf of
Slipstream Properties of Glendale, Colorado, HFF placed the five-year, 4.36
percent, fixed-rate loan with two years interest only, followed by a 30-year
amortization schedule with a CMBS lender.
Loan proceeds were used to refinance the
borrower’s acquisition and renovation bank loan, and to recapture a significant
portion of its initial equity.
The Phenix at Infinity
Park II is located at 4747 East Mississippi Avenue and 1001 South Dahlia Street
approximately five miles southeast of downtown Denver.
The HFF debt placement
team representing the borrower was led by Josh
Simon.
“The capital markets were
very responsive to this financing request given the sponsor’s strong track
record and the extensive investment in renovations at the property,” said
Simon. “We were able to accomplish the
borrower’s goal of recapturing a majority of their equity despite a limited
stable operating history.”
Peter Eklund
with Slipstream Properties added, "Working with HFF enabled us to evaluate
the full spectrum of debt offerings and select the one, which satisfied the
bulk of our priorities. The HFF team
worked on our behalf to ensure a smooth close on a complex transaction."
For a complete copy of the company’s news release,
please contact:
Olivia Hennessey
Public Relations
Coordinator
HFF | 9 Greenway Plaza
Suite 700 | Houston, Texas 77046
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