Suburban Denver Community Trades for $58M
Weidner Apartment Homes sold the 312-unit property to Phoenix Realty Group. HFF secured $46 million in financing for the sale.
By Adina Marcut
Silver Cliff
HFF secured $46 million in financing for the sale of a Denver community. Silver Cliff is a 312-unit, garden-style property in the suburb of Englewood, Colo. The company worked on behalf of Weidner Apartment Homes and closed the $57.8 million sale of the property. Phoenix Realty Group acquired the asset for $185,256 per unit. Additionally, HFF worked on behalf of the new owner and placed a seven-year, fixed-rate loan with three years of interest only amortization with Freddie Mac’s CME Program.
Located at 5109 S. Delaware St., adjacent to Dry Creek recreational parks, the community offers convenient access to Arapahoe Community College, Old Downtown Littleton and Denver Tech Center. The property’s nine buildings feature one-bedroom and two-bedroom units averaging 815 square feet. According to data provider Yardi Matrix, the community was 96.8 percent occupied as of May.
Community features
The community features the following amenities:
- a clubhouse
- a fitness center
- laundry facilities
- swimming pool
- a spa
- 472 parking spaces
- a tennis court
- a playground
- pet-friendly property
Image courtesy of Yardi Matrix
