DENVER, CO – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has closed the sale of and secured acquisition financing for Belle Creek Apartments, a 156-unit residential community with 6,256 square feet of ground-floor retail in Henderson, Colorado.
HFF marketed the property on behalf of a real estate investment trust. Hamilton Zanze purchased the asset for $23 million free and clear of existing debt. Additionally, HFF assisted the new owner in securing an $18.2 million, 10-year, fixed-rate loan through Freddie Mac’s (Federal Home Loan Mortgage Corporation) CME Program. The securitized loan will be serviced by HFF through its Freddie Mac Program Plus® Seller/Servicer program.
Belle Creek Apartments is situated within the 171-acre Belle Creek master planned community at 10754 Belle Creek Boulevard in the northeastern Denver suburb of Henderson. The transit-oriented property provides access to the RTD Highway 85-East 104th Avenue bus stop and major thoroughfares, including East 104th Avenue, Highway 85, E-470 and Interstate 76. Completed in 2002, the eight building, garden-style community has a mix of one-, two- and three-bedroom units averaging 753 square feet each and six ground-floor retail spaces totaling 6,256 square feet.
The HFF investment sales team representing the seller was led by managing director Jordan Robbins and associate director Jeff Haag.
HFF’s debt placement team representing the buyer was led by associate director Tyler Ford and senior managing director Matt Kafka.
About Hamilton Zanze: Founded in 2001, Hamilton Zanze is a private San Francisco-based real estate investment firm focused on the pursuit, acquisition and hands-on management of multifamily housing in the western and southwestern United States. Today, the firm manages more than $2 billion in assets, operating across nine states with more than 700 investors. For more information, please visit www.hamiltonzanze.com.
About HFF: HFF and HFFS (HFF Securities L.P.) are owned by HFF, Inc. (NYSE: HF). HFF operates out of 22 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry. HFF together with its affiliate HFFS offer clients a fully integrated national capital markets platform including debt placement, investment sales, equity placement, advisory services, loan sales and commercial loan servicing. For more information please visit hfflp.com or follow HFF on Twitter @HFF.