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| Cypress Point Apartments, 1211 South Quebec Way, Southeast Denver, CO |
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| Jordan Robbins |
DENVER, CO –– Holliday
Fenoglio Fowler, L.P. (HFF) announced it has closed the sale of and secured
acquisition financing for Cypress Point,
a 292-unit, garden-style apartment community in southeast Denver, Colorado.
HFF marketed the property
on behalf of Jackson Square Properties.
Advenir, Inc. (Advenir) purchased the offering for $42 million free and
clear of existing debt.
Additionally, HFF assisted
the new owner in securing a $33.6 million, seven-year, 2.75 percent,
floating-rate loan with three years of 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. Advenir will rebrand the property as
Advenir@Cherry Creek South and will implement a capital improvement program to
achieve greater rental premiums.
Cypress Point is located
at 1211 South Quebec Way near the intersection of South Quebec Street and
Leetsdale Drive, approximately seven miles southeast of downtown Denver. Situated on 11.36 acres, the property offers
convenient access to Interstate 25, Cherry Creek Shopping Center/Cherry Creek
North, Cherry Creek State Park, Highline Canal Trail and many of Denver’s major
employment centers.
The property has 15 two-
and three-story residential buildings, which house 292 one- and two-bedroom
units averaging 815 square feet each.
Community amenities include a swimming pool, spa, tennis court,
basketball court, volleyball courts, state-of-the-art fitness center, clubhouse,
internet café, lounge and business center.
The HFF investment sales
team representing Jackson Square Properties was led by Jordan Robbins and Jeff Haag.
HFF’s debt placement team
representing Advenir was led by Josh
Simon and Eric Tupler.
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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