Colorado Springs, CO – Holliday Fenoglio Fowler, L.P. (HFF) recently announced that it has secured a $3.601 million refinancing for Alvarado Place, a 99-unit apartment property in Colorado Springs, Colorado.
HFF worked on behalf of AP Investment Group, LLC, an affiliate of Radford Investment Properties, to secure the seven-year, 2.29 percent over 30-day LIBOR, floating-rate loan for $3.601 million. The interest-only loan is through Freddie Mac’s (Federal Home Loan Mortgage Corporation) CME Program. The securitized loan will be serviced by HFF, a Freddie Mac Multifamily Approved Seller/Servicer for Conventional Loans.
Alvarado Place is positioned near major Colorado Springs thoroughfares, including Fountain Boulevard, Powers Boulevard and Interstate 25. Situated at 1465 Alvarado Drive, the community shares a property line with the U.S. Post Office and is directly east of the Leon Young Sports Complex. The property has studio, one- and two-bedroom units averaging 519 square feet each housed within five, two-story residential buildings.
Image courtesy of HFF
