Berkadia Arranges $57M Loan for Denver Community
- Jul 06, 2017
Berkadia secured a $56.5 million, 10-year, full-term, interest-only loan for the 362-unit Veranda Highpointe—a South Denver luxury community—on behalf of TruAmerica Multifamily. The sale price was undisclosed, however, Veranda Highpointe last traded in 2015 when Forum Real Estate Group sold the asset for 105 million, or $290,055 per unit.
Located at 6343 E. Girard Place, Veranda Highpointe offers convenient access to Denver’s transit Southmoor Light Rail station, Fiddler’s Green Amphitheatre, the University of Denver and Cherry Creek State Park. The property is also in close vicinity of retail, restaurant and entertainment venues.
Veranda Highpointe consists of one-, two- and three-bedroom units ranging in size from 521 to 1,356 square feet. Amenities include a fitness center, a business center, a clubhouse, a basketball court, a swimming pool and a spa. According to data provider Yardi Matrix, the community also includes 41,000 square feet of retail space.
Senior Managing Director Peter Benedetto, Senior Managing Director Edward Zimbler, Managing Director Colin Callaghan and Managing Director Allan Freedman arranged the financing loan for the property.
Image courtesy of Yardi Matrix