Griffis Residential Receives $45.6M Acquisition Loan for Talavera Apartments in Denver
DENVER — Griffis Residential has received $45.6 million in financing for the acquisition of Talavera Apartments, a mid-rise multifamily community at 350 S. Jackson St. in Denver.
Eric Tupler and Josh Simon of HFF secured the 10-year, Fannie Mae Green Rewards loan through HFF’s risk-transfer joint venture with M&T Realty Capital Corp. The loan, which was used to fund the acquisition of the property, carries a 3.53 percent fixed interest rate with full-term interest-only payments.
Built in 2008, Talavera Apartments features 240 units in a mix of studio, one- and two-bedroom layouts, averaging 838 square feet. Community amenities include a swimming pool and spa, covered parking, in-unit washers/dryers, stainless steel appliances and Amazon lockers. At the time of closing, the property was more than 97 percent leased.