THORNTON, CO—HFF has arranged $17.8 million in financing and $6.1 million in joint venture equity for the Village at Coronado, a 390-unit multi-housing community here.
HFF worked on behalf of the borrower, Investors Management Group (IMG), to arrange a joint venture equity partnership with KCB Real Estate Management (KCB), who contributed $6.1 million in equity.
Additionally, on behalf of IMG and KCB, HFF secured a $17.8 million, 10-year, 3.85 percent fixed-rate loan through Freddie Mac's CME Program. The securitized loan will be serviced by HFF through its Freddie Mac Program Plus Seller/Servicer program. The debt and equity funding will allow IMG to further enhance the property beyond the renovations the previous owner completed from 2007 to 2008.
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David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
