DENVER, CO – Holliday Fenoglio Fowler, L.P. (HFF) announces $33.8 million in financing for Palisade Park, a 216-unit, Class A garden-style apartment community in the north Denver suburb of Broomfield, Colorado.
Working exclusively on behalf of Jeffrey Sanders of Boulder, Colorado-based Mountain View Capital, LLC, the HFF team secured the seven-year, floating-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 refinance expiring construction financing.
Completed in 2017, Palisade Park is 95 percent occupied and comprises one-, two- and three-bedroom units ranging from 731 to 1,247 square feet. The property is located at 16815 Huron Street, which allows for easy access to employment centers and recreational destinations in and around Denver and Boulder. The property encompasses 14,500 square feet of indoor and outdoor amenity space featuring a beach-style pool with sundeck and spa; pergola with gas grills and fire pit; 24-hour fitness center; clubhouse with billiards, Wi-Fi lounge, media center and business room; dog wash and dog park; playground; and detached garages.
The HFF debt placement team representing the borrower included managing director Josh Simon and director Kristian Lichtenfels.
“This is the sixth loan I have closed with the HFF team,” Sanders said. “It is always comforting to know I am in good hands and that the execution will go off without a hitch.”
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 approximately 1,400 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. Mr. Sanders legal background and years as a corporate attorney have been instrumental to his success in structuring real estate contracts and acquisitions that achieve superior investment returns. He also credits his success to his ability to work closely with skilled real estate professionals, including market analysts, land planners, attorneys, engineers, surveyors, contractors, real estate brokers and financial institutions, including banks and agency lenders.
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.