LONGMONT, CO—HFF has closed the sale of and arranged financing for two multi-housing communities, Wildwood and Wyndham Apartment Homes, totaling 570 units in Longmont.
HFF marketed the property on behalf of the seller, an institutional client advised by CenterSquare Investment Management, a BNY Mellon Company. Advenir purchased the asset free and clear of existing debt. HFF also worked on behalf of Advenir to procure 80% loan-to-value, fixed-rate acquisition financing in two separate transactions through Freddie Mac's (Federal Home Loan Mortgage Corporation) CME Program.
Wildwood and Wyndham were both fixed for 10 years with five years of interest only at 3.86% and 3.84% respectively. The securitized loans will be serviced by HFF through its Freddie Mac Program Plus Seller/Servicer program.
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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.
