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COLORADO SPRINGS, COLO. – The 292-unit Spring Canyon Apartments in Colorado Springs has received a $32.4-million acquisition loan. The community was purchased by Advenir @ Spring Canyon LLC. It is located at 4510 Spring Canyon Heights.
The seven-year Freddie Mac loan features interest-only payments for one year. Financing was secured by Charles Foschini of CBRE’s Debt & Structured Finance Group. Christian Lee of CBRE’s Capital Markets Institutional Group and Christopher Apone of CBRE’s Debt & Structured Finance Group assisted in this transaction.