Search
 

HFF Provides Refi for Denver Area MF

LAFAYETTE, CO—Prana Apartment Homes, which includes 254 units, qualified for $34.5 million on a 10-year loan.

By David Phillips | Updated on June 11, 2014

LAFAYETTE, CO—HFF says it has secured a $34.5 million refinancing for Prana Apartment Homes, a 254-unit multi-housing property near Denver. 

Working exclusively on behalf of the borrower, LLJ Stratford Prana, LLC, HFF placed the 10-year, 4.74%, fixed-rate loan with Fannie Mae through HFF’s correspondent relationship with M&T Realty Capital Corporation.  The forward rate lock refinance replaced a significantly higher rate HUD loan, which was closed to prepayment until May 2014.  The new Fannie Mae loan provided the borrower with a lower overall interest rate and five years of interest-only amortization, as well as some cash-out proceeds above the existing loan balance.  

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.