HFF has secured two separate fixed-rate loans totaling $7.7 million in financing for Alvarado Place, a 100-unit community, and Solar Vista, a 28-unit property, both of which are located in Colorado Springs, Colo. The company worked on behalf of Radford Investment Properties to arrange the loans through the Freddie Mac Small Balance Loan program.
Located on 2.9 acres at 1465 Alvarado Drive, Alvarado Place offers a mix of studios, one- and two-bedroom units ranging from 440 to 745 square feet. Built in 1964, the pet-friendly community includes common-area amenities such as:
- swimming pool
- two laundry facilities
- basketball court
- 210 parking spaces
Solar Vista is situated approximately five miles from Alvarado Place, at 1535 S. 8th St. The three-story building community features one- and two-bedroom units averaging 563 square feet. Built in 1952, Sola Vista offers convenient access to Interstate 25 and to the Broadmoor luxury resort, as well as the Ivy Wild redevelopment area.
In another recent deal, HFF worked on behalf of the seller to secure the $131 million sale of a Denver community.
Image courtesy of Yardi Matrix