DENVER, CO – Holliday Fenoglio Fowler, L.P. (HFF) announces $55.2 million in financing Advenir at French Quarter, a 436-unit multi-housing community in Denver, Colorado.
The HFF team worked on behalf of the borrower, Advenir, Inc., to secure the seven-year, fixed-rate loan through Freddie Mac’s CME Program. The securitized loan was used to refinance existing floating-rate debt on the property, and will be serviced by HFF, a Freddie Mac Multifamily Approved Seller/Servicer for Conventional Loans.
Advenir at French Quarter consists of 436 one- and two-bedroom floorplans within 26 three- and five-story residential buildings. Located at 3227 South Parker Road, the 95.14-percent-leased property is five miles northeast of the Denver Tech Center, which contains 9.4 million square feet of office space. Advenir at French Quarter is also within walking distance to the light rail and major transit corridors, including Interstate 25 and 225. Community amenities include an outdoor pool, sports field, tennis courts, playground, bark park, fitness center and espresso café.
The HFF team representing the borrower included senior managing director Eric Tupler and managing director Josh Simon.
About Advenir, Inc. Founded in 1996, Advenir, LLC is a Real Estate Investment Company headquartered in Aventura, Florida (Miami-Dade). Advenir acquires and operates multi-family rental communities throughout the United States, on behalf of high-net-worth and institutional investors. Since inception, Advenir has owned and operated more than 23,000 apartment units valued at just under $3.7 billion. The company’s current portfolio is in excess of 13,241 apartment units valued at more than $2.3 billion. In addition to Advenir, LLC, Advenir has a Property Management Company with 325 employees and regional offices in Florida, Texas, Colorado and Louisiana; and a Construction Management Company focused on multifamily development and rehabilitation.
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.