Holliday Fenoglio Fowler LP arranged financing totaling $62.68 million for a pair of Denver apartment properties.
The HFF team worked on behalf of borrower Denver-based RedPeak Properties to secure two separate 10-year, interest-only, fixed-rate loans through PGIM Real Estate Finance, the commercial mortgage finance business of PGIM, the global investment management business of Prudential Financial Inc., for the Timber Creek and 7/S Haus apartments.
The $38.12 million loan for Timber Creek has a rate of 3.73 percent. The $24.56 million loan for 7/S Denver Haus has a rate of 3.83 percent. Loan proceeds were used to refinance existing debt.
The HFF debt placement team representing the borrower included Josh Simon, managing director, and Eric Tupler, senior managing director.
Located at 8899 E. Prentice Ave. in Greenwood Village, Timber Creek Apartments comprises a 12-building, 210-unit garden-style community. Located less than 2 miles from the Belleview light-rail station and just south of the Interstates 25 and 225 interchange, the community features a mix of one- and two-bedroom apartments that average 1,035 square feet. Timber Creek amenities include a swimming pool, hot tub, grilling area, 24-hour fitness center, clubhouse, media lounge, cyber café and mountain bike loaner program.
The 7/S Denver Haus property is located in Denver’s Capitol Hill neighborhood at 175 E. Seventh Ave. The recently completed Class A building comprises 115 studio, one- and two-bedroom units that average 699 sf. The apartments feature high-end finishes, including French-door refrigerators, quartz countertops, faux wood flooring, built-in Bluetooth speakers, Nest thermostats, in-unit washers and dryers and balconies. Common area amenities at 7/S Denver Haus include a sky lounge, barbecue grills, yoga studio, 24-hour fitness center, dog spa, shuffleboard, media lounge and electric car charging stations.
