DENVER, CO – HFF announced today that it has arranged $22.5 million in financing for the Regency at RidgeGate, a 208-unit, Class A multi-housing community in Lone Tree, Colorado.
HFF worked exclusively on behalf of Regency Residential Partners, LLC (“Regency”) to secure the 25-year, fully amortizing loan at a fixed-rate of 4.55 percent through Nationwide Insurance, a correspondent lender. The loan was funded prior to full stabilization and proceeds will replace maturing construction financing on the property.
Completed in August 2013, Regency at RidgeGate has 187 one- and two-bedroom garden-style units and 21 two- and three-bedroom townhomes. The community was 88.5 percent leased at the time of funding and features amenities such as a swimming pool with sun deck, barbecue and fire pit, fitness center with yoga room, business center, club house and pet care facility. The property is located at 10320 Commonwealth Street near the intersection of RidgeGate Parkway and Lincoln Road, proximate to the Sky Ridge Medical Center, South Suburban Recreation Center, The Lone Tree Performing Arts Center and Interstate 25.
The HFF team representing the seller was led by senior managing director Eric Tupler, director Josh Simon and real estate analyst Leon McBroom.
“Regency at RidgeGate is performing exceptionally well and we are very pleased. It was great to find partners in HFF and Nationwide Insurance who appreciated the quality and project design,” commented Regency managing director Lisa Evans.
Regency is headquartered in Denver, Colorado. Regency specializes in the acquisition and development of well-located apartment complexes in the western United States.
HFF (Holliday Fenoglio Fowler, L.P.) and HFFS (HFF Securities L.P.) are owned by HFF, Inc. (NYSE: HF). HFF operates out of 21 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry. HFF together with its affiliate HFFS offer clients a fully integrated national capital markets platform including debt placement, investment sales, equity placement, advisory services, loan sales and commercial loan servicing. For more information, please visit www.hfflp.comor follow HFF on Twitter at www.twitter.com/hff.