DENVER, CO - CBRE Capital Markets’ Debt & Structured Finance has secured $16.45 million in financing for Centennial Place and Foothills Apartments, two multifamily properties totaling 148 units in Northern Colorado.
CBRE’s Scott Peterson, Bill Chiles, Brian Cruz, Morgon Fraser and Colby Matzke arranged the loan on behalf of the borrower, Del Mar, Calif.-based Stratford Partners.
Centennial Plaza is located at 1250 28th Ave. in Greeley, Colo. Originally constructed in 1973, the 84-unit property features one-, two- and three-bedroom floorplans averaging 796 square feet. Community amenities include a clubhouse, fitness center, basketball court, playground and swimming pool.
Foothills Apartments is located at 1917 W. 15th Street in Loveland, Colo. Built in 1961, the community features 64 two-bedroom unit averaging 970 square feet.
“The buyer will execute $2.9 million in interior and exterior renovations to the property,” said CBRE’s Peterson.
Stratford Partners acquired Centennial Place and Foothills Apartments from Sierra Companies in two separate transactions.
About CBRE Group, Inc. CBRE Group, Inc. (NYSE: CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2020 revenue). The company has more than 100,000 employees serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.