HFF arranges $200m of loans in Colorado and Texas

HFF has arranged three loans totaling $200m in the US states of Colorado and Texas.

HFF has arranged three loans totaling $200m in the US states of Colorado and Texas. The lenders on the deals include Wells Fargo, CrossHarbor Capital Partners and Goldman Sachs, in addition to a Freddie Mac loan that HFF will service.

The largest of the loans is a four-year, $89.5m construction loan from Wells Fargo and CrossHarbor Capital Partners for Continuum Partners’ A Block @ Union Station, a 310,055 sq ft mixed-use development in Denver, Colorado’s Union Station neighborhood. Continuum raised an additional $14.5m in equity financing.

A rendering depicts A Block @ Union Station
A rendering depicts A Block @ Union Station

The project will feature a 12-story, 200-room hotel; a five-story, 45,458 sq ft office building; and 13,000 sq ft of retail and restaurant space, including Bank of America as one of its tenants.

Also in Denver, HFF secured a $45m Freddie Mac loan it will service on behalf of borrowers PCC Partners and Iron River Management for the refinancing of The Parc at Cherry Creek, a 408-unit, garden-style apartment community on 20 acres at 7555 East Warren Drive. The 10-year, fixed-rate loan carries a 3.89 percent rate with five years of interest only.

The third loan is a $65.5m, 10-year, fixed-rate loan from Goldman Sachs Mortgage Company to Cypress Equities to refinance Bassett Place, a 595,400 sq ft regional mall in El Paso, Texas. The securitized loan will be used to pay off existing debt, fund food court renovations and the addition of a new Dave & Buster’s (American food and arcade) establishment. Situated on 44 acres at 6101 West Gateway, Bassett Place draws more than 17.9m visitors annually.

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