Essex Communities will use the loan to refinance existing debt on Carmel Oaks in Lakewood, Colo.
Arbor Realty Trust originated a $74.6 million Freddie Mac loan for the acquisition.
The firm will execute a capital improvements plan at Springs at Foothill Farm that will include building, amenity and green upgrades.
The firm will manage Hamilton Zanze’s 264-unit property near downtown Colorado Springs.
Sentral will manage the community’s 300-plus units and will offer flexible lengths of stay.