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$140M Goes to Nine Denver Properties

DENVER—Richard Bassuk, president of the Bassuk Organization Inc. and CEO of Greystone Bassuk Group reveal a completed program to refinance nine Maxx Properties here totaling 1,830 units.

By Natalie Dolce | Updated on June 12, 2014

DENVER—Richard Bassuk, president of the Bassuk Organization Inc. and CEO of Greystone Bassuk Group, revealed the completion of a program to refinance nine Maxx Properties with refinancing proceeds aggregating $140 million.GlobeSt.com has learned that the portfolio consists of nine properties in Denver totaling 1,830 units, but the firm could not reveal anything further about the properties, including location or property names, at this time.  

Bassuk stated that in 2012 Maxx asked TBO to analyze its portfolio and suggest various refinancing and enhancement strategies. With respect to Maxx’s Denver portfolio, TBO advised Maxx to undertake a renovation program and refinance existing mortgages with HUD on the basis of the enhanced rents resulting from the renovations. 

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