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| 210 St Paul, the first phase of The St Paul Collection (www.stpaulcollection.com), Cherry Creek North neighborhood, Denver, CO |
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| Brock Yaffe |
The HFF team
worked on behalf of BMC Investments to secure the 11-year, non-recourse,
full-term, interest-only fixed-rate loan through
Freddie Mac’s Lease-Up Loan Program.
The loan will replace existing construction financing and will be serviced by HFF, a Freddie Mac Multifamily Approved Seller/Servicer for Conventional Loans.
The loan will replace existing construction financing and will be serviced by HFF, a Freddie Mac Multifamily Approved Seller/Servicer for Conventional Loans.
The HFF debt placement team representing the borrower consisted of director Brock Yaffe.
“Working with the HFF team in concert with Freddie Mac is a pleasure.” said Max Bresner, BMC’s Chief Operating Officer. “HFF executed at a high level and procured very attractive long-term financing for this asset.
"Located in the heart of Cherry Creek, Denver’s most premiere submarket, we believe this asset enriches the neighborhood and sets a new standard in rental luxury living.”
The St Paul
Collection is a two-phase development located at the intersection of St Paul
Street and 2nd Avenue amid more than 2.5 million square feet of
retail within walking distance to the property.
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| Max Bresner |
The property’s central location also
gives nearby access to major employers in Cherry Creek and Denver’s CBD.
Completed in June, 210 St. Paul comprises 81 luxury residences in a mix of one-, two- and three-bedroom floor plans as well as penthouses ranging in size from 770 to 2,800 square feet.
Completed in June, 210 St. Paul comprises 81 luxury residences in a mix of one-, two- and three-bedroom floor plans as well as penthouses ranging in size from 770 to 2,800 square feet.
The property also includes 11,000 square
feet of retail leased to CB2, Crate &
Barrel’s fresh approach to furnishings & décor. The
second phase, which is not part of this financing, will add an additional
84 residential units and 44,000 square feet of retail space.
CONTACTS:
BROCK YAFFE
HFF Director
(303) 515-8000
OLIVIA HENNESSEY
HFF Public Relations Specialist
(713) 852-3500
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