PHOENIX, AZ - TSB Capital Advisors, the national leader in multifamily and student housing real estate advisory services, successfully negotiated financing for the acquisition of Uptown Broadway, a 116-unit apartment complex located in Boulder, Colorado. Cardinal Group Management out of Denver, Colorado, will manage the asset for the TIC ownership.
The fixed-rate term loan was provided by KeyBank via Freddie Mac.
“The financing of Uptown Broadway provided some unique challenges given the complex HOA and TIC borrower,” said Shawn D. Sweeney of TSB Capital Advisors. “However, the team at KeyBank did a great job working with Freddie Mac closing in a tight timeframe.”
Located near the foothills in North Boulder, Uptown Broadway backs up to open space and an abundance of biking, running and hiking trails. Uptown Broadway offers an excellent unit mix with 15 different floor plans averaging 870 square feet. The property features a diversified unit mix of one- and two-bedroom floor plans, nearly 40% of which are townhome-style units. Each home is complete with a washer and dryer, a built-in microwave and private patios, balconies or individual courtyards with privacy fencing.
Cardinal Group Management ("CGM") provides a full range of management services for CGI's owned assets and third-party clients. CGM specializes in both stabilized and turn around distressed, undermanaged and under-improved multifamily properties throughout the United States. CGM is uniquely structured in the sense that it provides extensive support to each community in the following areas: Accounting, Marketing, Human Resources, Information Technology, Facilities Management, Construction Management and overall strategic Management of the community.
TSB Capital Advisors is the national leader in multifamily and student housing real estate advisory services, and has offices in Phoenix, Arizona (headquarters) and Paoli, Pennsylvania. Last year, the firm ranked number 1 in student housing financing volume. Since its creation in 2009, TSB Capital Advisors has helped close more than 200 deals and $9 billion in multifamily and student housing transactions.