DENVER – JLL announced today that it has arranged the $41 million refinancing of Decatur Point, a 203-unit, Class A, mid-rise multi-housing property in Denver’s Jefferson Park neighborhood.

JLL worked on behalf of the borrower, Riverpoint I, LLC, to secure the 10-year, 3.56%, fixed-rate loan through a correspondent life company lender. The loan featured a forward-rate lock and interest-only amortization. The property is managed by Iron River Management, LLC whose principal, Jonathan Ringham, is also the lead investor in the property.

Decatur Point is located at 2700 Decatur Street just across the river from downtown and Union Station near some of Denver’s top dining, retail, recreation and nightlife destinations. The property is also minutes from the Cherry Creek and Platte River trails as well Speer Boulevard and Interstate 25. Completed in 2017, Decatur Point comprises a mix of studio, one- and two-bedroom units averaging 775 square feet with modern finishes and amenities, including full-size washers and dryers, private balconies and designated underground parking and bike storage. Additional common area amenities include a 3,500-square-foot landscaped courtyard with lounge seating; an outdoor swimming pool and spa; grilling and outdoor dining area; fitness center and yoga studio; club room with gaming area and bar; and a rooftop sky lounge with outdoor kitchen and cocktail station that provides panoramic views of the Denver skyline. The property is 96% occupied.

The JLL Capital Markets team representing the borrower was led by Managing Director Josh Simon.

DENVER, CO – January 22, 2019 – Holliday Fenoglio Fowler, L.P. (HFF) announces $47.175 million in financing for the development of Brickhouse at Lamar Station, a 293-unit, Class A apartment property in Lakewood, Colorado.

The HFF team worked exclusively on behalf of Riverpoint Partners and Iron River Management, LLC to secure the 15-year construction-to-permanent loan through a correspondent insurance company lender.  The loan includes three years of interest-only, which is followed by a 35-year amortization schedule.  The financing represents 65 percent of the anticipated total project costs and features the potential for additional loan proceeds upon stabilization.

Brickhouse at Lamar Station will be located on a 3.75-acre site at 6300 W. 13th Avenue within walking distance to the Lamar Station light rail stop.  The property will total four floors above ground and one level of underground parking.  Brickhouse at Lamar Station, which will consist of units averaging 748 square feet, is designed to include unparalleled amenities and finishes compared to existing properties in the area, including stainless steel appliances, granite and quartz countertops, washers and dryers, wood flooring, and balconies or patios.  Common area amenities include a swimming pool, two spacious interior courtyards, fire pits, grilling stations, a large community room, 24-hour fitness center, yoga studio, top-floor club room, business center and pet spa.  Completion is expected in mid-2020.

The HFF debt placement team representing the borrower consisted of managing director Josh Simon and director Kristian Lichtenfels.

DENVER, CO – Holliday Fenoglio Fowler, L.P. (HFF) announces $22 million in financing for Coral Falls, a 190-unit, garden-style multi-housing community in Coral Springs, Florida.

The HFF team worked on behalf of CF Partners, Ltd. and Iron River Management, LLC to secure the seven-year, 4.47 percent, fixed-rate, interest-only loan through Freddie Mac’s CME Program.  The securitized loan will be serviced by HFF, a Freddie Mac Multifamily Approved Seller/Servicer for Conventional Loans.  Loan proceeds are being used to replace a floating-rate loan the HFF team arranged on the owner’s behalf in 2015.

Coral Falls is located at 2801 NW 91st Street in Coral Springs providing access to Boca Raton to the north and Fort Lauderdale and Miami to the south.  The 99-percent-leased asset has a mix of newly renovated one- and two-bedroom floor plans averaging 1,029 square feet each.  Community amenities include a swimming pool with sundeck, brand new fitness center, picnic areas, tennis court, playground and car wash station.

The HFF debt placement team representing the borrower included managing directors Josh Simon and Elliott Throne.

“Our goal with Coral Falls has always been to hold long-term, maintain our presence in the market, and maximize our cash flow,” said Jonathan Ringham, President of Southshire, the general partner of CF Partners Ltd., and owner of Iron River Management, LLC.  “The HFF team has always understood this and provided the necessary guidance to achieving our long-term goals.  The placement of this debt allows us to continue our history of success with this property.”