JLL Arranges $22.8M in Refinancing for Two Apartment Assets in Metro Denver
GLENDALE, COLO. — JLL has arranged $22.8 million in financing for two adjacent multifamily properties located in Glendale, a suburb of Denver. The borrower is Glendale-based Slipstream Properties.
Kristian Lichtenfels led the JLL team that arranged the two 10-year, interest-only, fixed-rate loans through Freddie Mac’s Green Advantage program for the borrower. The loans will be serviced by Holliday Fenoglio Fowler LP, a JLL company and a Freddie Mac Optigo lender. Proceeds were used to refinance existing loans on the properties.
Totaling 185 units, Phenix at Infinity Park I and II are situated along East Mississippi Avenue and South Dahlia Street. The Phase I portion was most recently renovated in 2011 and Phase II was renovated in 2014. The buildings comprise a variety of one- and two-bedroom units, which were 97 percent occupied overall. Community amenities include a swimming pool, dog park, grilling areas and courtyards.