HFF Arranges $33.05M Sale on Behalf of Prime Residential
- Aug 15, 2013
Denver– HFF announced that it has closed the sale of The Artisan, a 434-unit, garden-style multi-housing community in Denver.
HFF marketed the property on behalf of Prime Residential. Peak Capital Partners purchased the asset for $33.05 million contingent to existing debt.
The Artisan is 98 percent occupied and consists of 63 percent townhome-style units, as well as one-, two- and three-bedroom flat-style units averaging 901 square feet each. Community amenities include a fitness center, two heated swimming pools, sport court, business center, two clubhouses and covered parking. The Artisan is located at 10025 East Girard Avenue within walking distance of two light rail stations and less than 10 minutes from the Denver Technology Center and Southeast Business Corridor.
The HFF team representing the seller was led by director Jordan Robbins and senior real estate analyst Jake Young.
Prime Residential is one of the largest owners of high-quality, multifamily rental communities in the Western U.S. The firm has achieved success by creating value through disciplined acquisitions, sensible capital structures, appropriate reinvestment and superior management. Prime Residential’s current portfolio contains approximately 20,000 units.
Peak Capital Partners and its affiliates own and manage conventional, affordable, and student apartment communities in growth markets in the United States. Founded in 2007, Peak Capital Partners owns 30 apartment communities in eight states. Today, the firm has an asset portfolio valued in excess of $400 million.
Alliant Capital closes on $1.2M refi
Orange, Calif.–Alliant Capital LLC announced the closing of a $1,200,000 refinance loan on Greencrest Apartments, a 55-unit garden style multifamily property, located in Colorado Springs, Colo. This transaction was originated by David Kidder, Alliant’s regional director, in the Orange, Calif. office.
The loan was closed on Aug. 13, 2013 and structured with a 10-year fixed-rate term and a 30-year amortization.