HFF Secures Loan for Colorado Springs Community
- Dec 06, 2016
by Adina Marcut
Colorado Springs, Colo.—HFF recently announced it has secured a $3.6 million loan for Alvarado Place, a 100-unit apartment community in Colorado Springs, Colo. The HFF debt placement team representing the borrower, AP Investment Group LLC, was led by Associate Director Brock Yaffe.
Located at 1465 Alvarado Drive in The Springs, the community offers easy access to major thoroughfares, including Fountain Boulevard, Powers Boulevard and Interstate 25. According to Yardi Matrix, the studio, one- and two-bedroom property features amenities such as a basketball court, swimming pool, two laundry facilities and 210 parking spaces.
HFF worked on behalf of AP Investment Group LLC, an affiliate of Radford Investment Properties, to secure the seven-year, 2.29 percent over 30-day LIBOR, floating-rate loan for $3.601 million. The interest-only, securitized loan was placed through Freddie Mac’s CME Program, and will be serviced by HFF, a Freddie Mac Multifamily Approved Seller/Servicer for Conventional Loans.
Image courtesy of Yardi Matrix