HFF Closes Sale and Secures Acquisition for Belle Creek Apartments
DENVER, CO – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has closed the sale of and secured acquisition financing for Belle Creek Apartments, a 156-unit residential community with 6,256 square feet of ground-floor retail in Henderson, Colorado.
HFF marketed the property on behalf of a real estate investment trust. Hamilton Zanze purchased the asset for $23 million free and clear of existing debt. Additionally, HFF assisted the new owner in securing an $18.2 million, 10-year, fixed-rate loan 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.
Belle Creek Apartments is situated within the 171-acre Belle Creek master planned community at 10754 Belle Creek Boulevard in the northeastern Denver suburb of Henderson. The transit-oriented property provides access to the RTD Highway 85-East 104th Avenue bus stop and major thoroughfares, including East 104th Avenue, Highway 85, E-470 and Interstate 76. Completed in 2002, the eight building, garden-style community has a mix of one-, two- and three-bedroom units averaging 753 square feet each and six ground-floor retail spaces totaling 6,256 square feet.
The HFF investment sales team representing the seller was led by managing director Jordan Robbins and associate director Jeff Haag. HFF’s debt placement team representing the buyer was led by associate director Tyler Ford and senior managing director Matt Kafka.
Photo courtesy of HFF