HFF secures $81.9 million financing for 400-unit multi-housing community in Denver
DENVER, CO – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has secured $81.9 million in acquisition financing for Skye 2905 Urban Flats (Skye 2905), a 400-unit, Class A multi-housing community in Denver’s North Union Station neighborhood.
HFF worked exclusively on behalf of the borrower, Griffis Residential, to place the 10-year, 3.98-percent, fixed-rate loan with five years of interest only with a correspondent life insurance company.
Located across 20th Street from the Union Station neighborhood and downtown Denver’s only grocery store, King Soopers, Skye 2905 is in the heart of the city’s cultural core. The property is situated on 4.95 acres at 2905 N. Inca Street providing immediate access to major employers in the central business district and abundant dining, entertainment and cultural amenities. Skye 2905 is a five-story building consisting of one-, two- and three-bedroom units wrapped around a five-story parking garage with 2,714 square feet of retail on the ground floor. The property features common area amenities, including a swimming pool; outdoor entertainment lounge with grilling stations; state-of-the-art fitness center with yoga room; indoor lounge with poker room, gaming center, flat-screen TVs and foosball table; and downtown, mountain and Coors Field views. Residences feature nine-foot ceilings, granite countertops, stainless steel appliances, in-unit washers and dryers, soaking bathtubs, walk-in closets and wood plank or polished concrete flooring.
The HFF debt placement team representing Griffis Residential was led by senior managing director Eric Tupler and managing director Josh Simon.
Photo Courtesy of HFF