HFF announced today that it has arranged $49.5m in financing for Liberty Creek Apartments, a 584-unit, garden-style multi-housing community in the east Denver suburb of Aurora, Colorado.
The 10-year, securitized acquisition financing was made through Freddie Mac’s (Federal Home Loan Mortgage Corporation) CME Program.
“Liberty Creek made for an ideal opportunity to purchase, reposition, own and operate the property for the long-term, which is consistent with our business plan,” said Matthew Joblon, CEO with the borrower, BMC Investments, which made the acquisition through a joint venture with Oak Coast Properties.
Liberty Creek Apartments, at 13100 East Kansas Drive, features 42 two-story buildings that house one- and two-bedroom units ranging between 650 to 882 sq ft.
The HFF debt placement team representing the borrower was led by associate director Brock Yaffe.
HFF’s other notable recent deals in Colorado include the arrangement of a $135m construction-to-permanent loan from Quadrant Real Estate Advisors for the development of The Broe Companies’ Country Club Towers II and a $89.5m construction loan from Wells Fargo and CrossHarbor Capital Partners for Continuum Partners’ A Block @ Union Station, both located in Denver.