HFF Arranges $13.6M Financing for Aurora Multifamily
Denver, CO – Holliday Fenoglio Fowler, L.P. (HFF) recently announced that it has arranged acquisition financing for Alvista Highline, a 90-unit townhome apartment community in Aurora, Colorado.
HFF worked exclusively on behalf of the borrower, Advenir, Inc., to secure the 10-year, floating-rate loan with five 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@Del Arte Townhomes and will operate in conjunction with the neighboring Advenir@Del Arte apartment community.
Alvista Highline is located at 11135 East Alameda Avenue near Interstate 225 to the east and the Anschutz Fitzsimons Medical Center redevelopment to the north. Other surrounding amenities include Buckley Air Force Base, the prestigious Cherry Creek North retail corridor, the recently-renovated Town Center at Aurora and the High Line Canal Trail. The property, which is approximately nine miles southeast of downtown Denver and a short distance from the future Aurora City Center light rail station, offers a mix of one- and two-bedroom floor plans. Originally built as condominiums, the eight-building, two-story property features homes with spacious floor plans, one-car attached garages, private entrances and energy-efficient appliances. The property also encompasses six, privately-owned condominiums, which were not part of this transaction.
The HFF debt placement team representing Advenir, Inc. was led by managing director Josh Simon and senior managing director Eric Tupler.
Image courtesy of HFF