Greenwood Village-based Griffis Residential has sold a 562-unit apartment complex in Northglenn to Chicago-based real estate investment firm Magnolia Capital, for $124 million
Holliday Fenoglio Fowler, L.P. (HFF) secured $80.6 million of financing for Haven 124 at Eastlake Station (formerly known as Griffis North Metro Apartments), a 562-unit multi-housing community in the Denver suburb of Northglenn, Colorado. Working on behalf of the borrower, Magnolia Capital and its investment partner, the HFF team placed two separate seven-year, floating-rate loans with Freddie Mac’s Green Advantage Program.
Haven 124 at Eastlake Station is a two-phase community situated on 24.2 acres at 12255 North Claude Court. Located just a few blocks east of Interstate 25, the property offers access into downtown Denver, which is approximately 12 miles south of the community, as well as proximity to a variety of dining, retail and outdoor recreation amenities in the immediate area. Additionally, the community is near the soon-to-open Eastlake/124th light rail station.
“We are thrilled to have completed the acquisition of Haven 124 and pleased to have worked with HFF on the financing,” said Max Peek, CEO and managing principal of Magnolia Capital. “We continue to seek out compelling value-add and core-plus multifamily investment opportunities within our target markets.”
