DENVER, CO – Holliday Fenoglio Fowler, L.P. (HFF) announces $37.525 million in financing for Thistle Sage, a 418-unit, garden-style multi-housing community in Northglenn, Colorado.
Working exclusively on behalf of Jeffrey Sanders of Boulder, Colorado-based Mountain View Capital, LLC, the HFF team secured the seven-year, fixed-rate loan through Freddie Mac’s CME Program. The securitized loan will be serviced by HFF, a Freddie Mac Multifamily Approved Seller/Servicer for Conventional Loans. Loan proceeds were used to acquire the property and featured flexible prepayment and two years of interest-only amortization.
Thistle Sage comprises 10 four-story residential buildings containing a mix of one- and two-bedroom units averaging 566 square feet. Located just east of Interstate 25 at 11801 Washington Street, the property is approximately 13 miles north of the Denver CBD and near multiple retail amenities. The 9.7-acre community features two heated swimming pools, a grilling area, playground and more than 500 open parking spaces. Thistle Sage was nearly 95 percent occupied at closing.
The HFF debt placement team representing the borrower consisted of managing director Josh Simon and director Kristian Lichtenfels.
“It is always a pleasure to work with the HFF team,” Sanders said. “Their consistently flawless execution is a true asset when acquiring properties in the current competitive environment.”
About Mountain View Capital, LLC: Mountain View Capital, LLC, the investment company for Boulder, Colorado-based Jeffrey K. Sanders, was formed in 2008 to develop and acquire long-term real estate investment opportunities. Mountain View Capital’s current multifamily portfolio consists of over 1,700 units across seven properties in Colorado and Wyoming. Mountain View Capital’s strategy is to create long-term cash flows and substantial value appreciation with every investment. Since 2001, Mr. Sanders has been involved with the acquisition, repositioning and sale of over 4,000 apartment units and approximately 500,000 square feet of retail and office.
About HFF: HFF and its affiliates operate out of 26 offices and are a leading provider of commercial real estate and capital markets services to the global commercial real estate industry. HFF, together with its affiliates, offers clients a fully integrated capital markets platform, including debt placement, investment advisory, equity placement, funds marketing, M&A and corporate advisory, loan sales and loan servicing. HFF, HFF Real Estate Limited, HFF Securities L.P. and HFF Securities Limited are owned by HFF, Inc. (NYSE: HF). For more information, please visit hfflp.com or follow HFF on Twitter @HFF.