 |
| 1000 Grant Street Apartments, Capitol Hill Neighborhood, Denver, CO |
 |
| Josh Simon |
DENVER, CO – October 1,
2015 – Holliday Fenoglio Fowler, L.P. (HFF) announced it has secured $28.8
million in financing for five apartment communities totaling 220 units in
downtown Denver’s Capitol Hill neighborhood.
Working on behalf of RedPeak
Properties, HFF placed the financing in five separate transactions with a
national bank. The seven-year, 3.91
percent, fixed-rate loans were structured as individual loans on each property
totaling $28.8 million in aggregate.
Loan proceeds will be used to refinance existing debt and recover
capital investments for the renovations of the properties.
Property Location Total Units Avg. Unit Size Year Built/Renovated Occupancy
929
Marion
Street
43 Units 405 SF 1955/2013 100%
970
Pennsylvania Street 32 Units
635 SF 1940/2015 94%
1000
Grant Street
86 Units 742
SF 1963/2014 94%
1075
Corona Street
36 Units 757
SF 1955/2015 86%
1145-1153 Ogden
Street 23 Units
706 SF 2012 & 1896/2012 100%
 |
| Eric Tupler |
The HFF debt placement
team representing the borrower was led by Josh
Simon and Eric Tupler.
“HFF provided broad market coverage to ensure
that we met our investment objectives.
"The process was seamless and provided us with several attractive options
to consider. We look forward to working
with HFF in the future as we continue to grow our portfolio,” said Bobby
Hutchinson, Investment Director for RedPeak.
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
tel 713.852.3403 | fax
713.527.8725 | www.hfflp.com
.
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