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| Brock Yaffe |
DENVER,
CO –– Holliday Fenoglio Fowler, L.P. (HFF) announces the $11.1 million
financing for Peak 4420, a 209-unit,
garden-style multi-housing community in Colorado Springs, Colorado.
Working
on behalf of POV Investment Group, LLC, an affiliate of Radford Investment
Properties, the HFF team placed the 10-year, non-recourse, fixed-rate loan with
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. Loan proceeds will be used to pay off an
existing Freddie Mac loan that the HFF team arranged in 2015.
Peak
4420 is located at 4420 East Pikes Peak Avenue to the east of downtown Colorado
Springs and near major thoroughfares, including State Highway 24, Route 21 and
Interstate 25, providing convenient access to the area’s core employment
centers.
The seven-building property is 96.65 percent
occupied and features studio, one- and two-bedroom units ranging from 520 to
750 square feet. Community amenities
include a swimming pool, dog park and playground.
The
HFF debt placement team representing the borrower included director Brock Yaffe.
“Radford
has now closed several loans with HFF, and we have always been very pleased
with their efficiency and ability to hold the agreed upon loan terms,” stated a
representative from Radford. “We were
able to lock-in an outstanding long-term fixed rate even in this low interest
rate environment, all whilst their Houston office was dealing with a
devastating hurricane. We couldn’t be
happier with the result.”
For
more information on this press release, please contact:
Olivia Hennessey
Public Relations
Specialist
HFF | 9 Greenway Plaza
Suite 700 | Houston, Texas 77046
tel 713.852.3403 | fax
713.527.8725 | www.hfflp.com
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