Monday, August 10, 2015

HFF secures $14.25 million financing for 131-unit multi-housing property in suburban Denver, CO


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

No comments:

Post a Comment