$45M Financing for 304-Unit Apartment Community Arranged by HFF
Centennial, CO – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has arranged $45 million in permanent financing for 360º, a 304-unit, newly-built Class A apartment community in the southeast Denver suburb of Centennial, Colorado.
HFF worked exclusively on behalf of an institutional investor to secure the seven-year, 2.98 percent fixed-rate loan through a life company lender.
360º consists of two four- and five-story, wrap-style apartment buildings and a five-story, 439-space parking garage. Situated on 3.9 acres at 7700 East Peakview Avenue, the property is just west of Interstate 25 in the heart of one of Denver’s primary office markets offering access to more than 33 million square feet of office space in the Denver Tech Center and Greenwood Plaza employment hubs. In addition, the transit-oriented property is less than a mile from the Arapahoe at Village Center light rail station and accessible to numerous retail centers within a three-mile radius.
Completed in two phases in January 2015 and January 2016, the 360º has studio, one- and two-bedroom floor plans featuring granite counter-tops, kitchen islands, stainless steel appliances, soaking bathtubs and stand-up showers, wood-style plank flooring, oversized windows and in-unit washers and dryers. Community amenities include a resort-style swimming pool and hot tub; rooftop lounge and resident clubhouse with indoor kitchen and fireplace; courtyard with grilling areas; state-of-the-art athletic center; library; business center; billiards and shuffleboard; dog washing station; and bike repair workshop.
The HFF debt placement team representing the borrower was led by senior managing director Travis Anderson and managing director Josh Simon.
Photo courtesy of HFF