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THORNTON, CO-CBRE|Melody recently arranged a $31.5-million, fixed, permanent acquisition financing loan for Red Hawk Ranch, a multifamily property in this city north of Denver. The transaction was handled by Michael Riccio, director, in CBRE|Melody's Hartford, CT office, in conjunction with Eric Tupler, senior director in CBRE|Melody's Denver office. Tupler and Riccio secured financing with MetLife on behalf of the borrower, CH Realty III/Red Hawk Ranch, LLC, an affiliate of Crow Holdings.

"CH Realty III/Red Hawk Ranch, LLC purchased the property from Baron Properties at below replacement costs due to some temporary softness in the market," explains Riccio. "Red Hawk Ranch is a top of the market asset with a high occupancy. MetLife responded with a very competitive finance package."

Red Hawk Ranch Apartments, at 12150 Washington Center Pkwy, is a class A residential community. Carmel Properties developed the 384-unit property in 2000. The community just east of the Interstate 25 and 120th Avenue intersection within a high-growth suburb just 15 minutes north of the Denver Central Business District.