DENVER, CO – July 31, 2018 – Holliday Fenoglio Fowler, L.P. (HFF) announces $7.74 million in financing for two Colorado Springs, Colorado, apartment communities – Alvarado Place and Solar Vista.

The HFF team worked on behalf of Radford Investment Properties to secure two separate fixed-rate loans through the Freddie Mac Small Balance Loan program.  Proceeds from the loan for Alvarado Place refinanced a floating-rate loan the HFF team sourced for the borrower in 2016 and proceeds from the loan for Solar Vista were used to acquire the property.

Alvarado Place is positioned near major Colorado Springs thoroughfares, including Fountain Boulevard, Powers Boulevard and Interstate 25.  Situated at 1465 Alvarado Drive, the community shares a property line with the U.S. Post Office and is directly east of the Leon Young Sports Complex.  The property comprises 99 studio, one- and two-bedroom units averaging 519 square feet each housed within five, two-story residential buildings. 

Solar Vista is a 28-unit property located at 1535 S. 8th Street in Colorado Springs, approximately five miles west of Alvarado Place.  The community is one mile from Interstate 25 and just north of the acclaimed Broadmoor luxury resort and Ivy Wild redevelopment area.  Units include a mix of one- and two-bedroom layouts averaging 563 square feet within a three-story building.

The HFF debt placement team representing the borrower consisted of director Brock Yaffe.

“HFF continues to help Radford meet its financing needs at the highest level,” said a representative from Radford Investment Properties.  “They provide excellent customer service and deliver loans on time and within the agreed upon terms.  Having financing security allows Radford to concentrate on deal-specific parameters while under contract to make the best investment decisions for its clients.”