June 6, 2018
Advenir, Inc. secured $172,845 million in financing for five apartment communities comprising 1,534 units in the Denver and Houston metropolitan areas. HFF’s team worked on behalf of the borrower to secure the seven-year, fixed-rate loans in five separate transactions through Freddie Mac’s CME Program.
The securitized loans were used to refinance existing floating-rate debt on the properties, and will be serviced by HFF. The average rate across the five fixed-rate loans is 4.27%, with rates spanning from 4.21% to 4.34%. HFF’s Eric Tupler, Josh Simon and Cortney Cole represented the borrower.
The properties in the 94%-occupied portfolio are:
– Advenir at Eagle Creek, a 258-unit property at 10373 North Sam Houston Parkway East in Humble, TX
– Advenir at Woodbridge Reserve, a 288-unit property at 15000 W. Airport Blvd. in Sugar Land, TX (pictured)
– Advenir at Cherry Creek North, a 345-unit property at 1090 S. Parker Rd. in Denver
– Advenir at Cherry Creek South, a 292-unit property at 1211 S. Quebec Way in Denver
– Advenir at Del Arte, a 351-unit property at 151 S. Joliet Circle in Aurora, Colorado
The Connect Apartments conference will take place June 26. For more information, or to register, log on here.
For comments, questions or concerns, please contact Dennis Kaiser