DENVER, CO – Holliday Fenoglio Fowler, L.P. (HFF) announces $21.4 million in financing for The Avenues Crofton Park, a 90-unit, 55+ age-restricted independent living community in Broomfield, Colorado.
The HFF team worked exclusively on behalf of The Avenues Crofton Park, LLC to secure 10-year, fixed-rate financing through Freddie Mac’s CME Program. The securitized loan will be serviced by HFF, a Freddie Mac Multifamily Approved Seller/Servicer.
Developed by McBroom Company and managed by The Avenues Company, The Avenues Crofton Park features 70 rental apartment homes and 20 cottages. In 2016, the National Association of Home Builders recognized the community for excellence in senior living design in the Best of 55+ Housing Awards. The community’s spacious residences include modern kitchens with granite countertops, stainless steel appliances and pantries as well as walk-in showers, walk-in closets, high-efficiency washers and dryers, and private covered balconies or patios. Community amenities include an outdoor living space with a fire pit, grill, outdoor kitchen and sitting areas bordered by a water feature; open demonstration kitchen; events room; fitness center with yoga space; community gardens; billiard lounge and game room; private dining room and catering kitchen; library; onsite management; and concierge services. The community is accessible to both Interstate 25 and Highway 36, which provides connectivity to Denver, Boulder and the Rocky Mountains. The community was 98 percent occupied at closing.
The HFF team representing the borrower included director Leon McBroom.
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.