June 6, 2018 Comments (0) Views: 697 Colorado, National News, Southwest, Texas News

$173M in Financing Arranged for 5 MF’s in Denver, Houston

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.

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