HFF announces $15.1 million financing for suburban Denver, CO multi-housing community

Advenir at Del Arte Townhomes, a 94-unit multi-housing community in Aurora, CO

DENVER, CO – Jan. 28, 2019 – Holliday Fenoglio Fowler, L.P. (HFF) announces $15.1 million in financing for Advenir at Del Arte Townhomes, a 94-unit multi-housing community in Aurora, Colorado.

Eric Tupler

The HFF team worked on behalf of the borrower, Advenir, Inc., to secure the seven-year, fixed-rate loan through Freddie Mac’s Green Up Program.

The securitized loan was used to refinance existing floating-rate debt on the property, and will be serviced by HFF, a Freddie Mac Multifamily Approved Seller/Servicer for Conventional Loans.

  The refinance was a continuation of the borrower’s strategy to mitigate interest-rate risk amid the current rising rate environment. 

The borrower was able replace their existing 5.15 percent, floating rate at closing with a 4.25 percent, seven-year fixed rate.  The fixed-rate conversion took the ongoing LIBOR adjustment risk off the table and ultimately provided the borrower with a reduction in the all-in rate with additional interest-only amortization.

Advenir at Del Arte Townhomes is located at 11135 E. Alameda Avenue, which offers nearby access to Interstates 25, 225 and 70. 

The property’s 94 townhome-style units are 93 percent occupied and comprise a mix of one- and two-bedroom layouts and features, including attached garages, washers and dryers, and spacious entertainment kitchens. 

Josh Simon

 The property shares common area amenities with neighboring Advenir at Del Arte, a 351-unit community with a variety of loft- and flat-style units.

The HFF team representing the borrower included senior managing director Eric Tupler and managing director Josh Simon.

CONTACTS:

ERIC TUPLER

HFF Senior Managing Director

(303) 515-8000

etupler@hfflp.com

JOSH SIMON

HFF Managing Director

(303) 515-8000

jsimon@hfflp.com

OLIVIA HENNESSEY

HFF Public Relations Specialist

(713) 852-3500

ohennessey@hfflp.com