DENVER, CO – Holliday Fenoglio Fowler, L.P. (HFF) announces $7.74 million in financing for two Colorado Springs, Colorado, apartment communities – Alvarado Place and Solar Vista.
The HFF team worked on behalf of Radford Investment Properties to secure two separate fixed-rate loans through the Freddie Mac Small Balance Loan program. Proceeds from the loan for Alvarado Place refinanced a floating-rate loan the HFF team sourced for the borrower in 2016 and proceeds from the loan for Solar Vista were used to acquire the property.
Alvarado Place is positioned near major Colorado Springs thoroughfares, including Fountain Boulevard, Powers Boulevard and Interstate 25. Situated at 1465 Alvarado Drive, the community shares a property line with the U.S. Post Office and is directly east of the Leon Young Sports Complex. The property comprises 99 studio, one- and two-bedroom units averaging 519 square feet each housed within five, two-story residential buildings.
Solar Vista is a 28-unit property located at 1535 S. 8th Street in Colorado Springs, approximately five miles west of Alvarado Place. The community is one mile from Interstate 25 and just north of the acclaimed Broadmoor luxury resort and Ivy Wild redevelopment area. Units include a mix of one- and two-bedroom layouts averaging 563 square feet within a three-story building.
The HFF debt placement team representing the borrower consisted of director Brock Yaffe.
“HFF continues to help Radford meet its financing needs at the highest level,” said a representative from Radford Investment Properties. “They provide excellent customer service and deliver loans on time and within the agreed upon terms. Having financing security allows Radford to concentrate on deal-specific parameters while under contract to make the best investment decisions for its clients.”
About Radford Investment Properties: Since 2001, Radford Investment Properties (Radford) has provided the highest level of quality, service and investment returns to its clients and investors. The firm’s portfolio of currently owned and managed investments consists of approximately 800 units. The distinguishing feature of the portfolio is its potential for repositioning via value-add renovations or other means. The firm’s geographic area of expertise is in Colorado with a specialty in Metro Denver and Colorado Springs. Radford’s goal is to provide the highest return possible to investors and clients by being the best and most innovative investor, owner and re-developer of quality real estate assets in the markets in which it operates. Radford’s ability to achieve this goal is rooted in the firm’s commitment to quality. The combination of experience, project expertise and management process is the foundation of the firm’s ability to provide clients and investors with the highest level of service. Additionally, this foundation provides Radford the unique ability to execute projects of all sizes and virtually unlimited complexity. Radford has always delivered above and beyond the services required to perform the task. In addition, the principals of the firm are directly involved in the day-to-day operation of the organization. The result is strong relationships with leading investment brokerage firms, the multifamily lending community, construction companies, private investment firms and its own investors.
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.