HFF Lands Loan for Mile-High City Mixed-Use Project
- Dec 06, 2016
by Adina Marcut
Denver—HFF is keeping busy in the Denver area by securing an $18 million loan for Freight and Freight Residences, two properties featuring retail, office and residential space within the city’s Taxi campus. HFF worked on behalf of the borrower, Zeppelin Development, to secure permanent financing for each of the properties in two separate transactions.
The first transaction was a $6.96 million, 10-year, fixed-rate loan for Freight, which was placed with a securitized lender. The second transaction, an $11.148 million, 10-year, fixed-rate loan for Freight Residences, was placed through Freddie Mac’s CME program.
The Taxi campus is an eight-building, mixed-use development located along Ringsby Court on the left bank of the South River in Denver’s River North submarket, which contains more than 400,000 square feet of office, residential and retail space. The three-story property was designed by Dynia Architects and features a conference room, shared kitchen/lounge and an outdoor movie theater on Freight Plaza.
The 48-unit, 49,962-square-foot, Class A Freight Residences community features one-, three- and four-bedroom apartments with access to amenities such as a swimming pool, recreation rooms, dining options and a fitness center. The property is 100 percent leased and offers access to a variety of transit options and amenities in the emerging RiNo and downtown Denver areas.
The HFF debt placement team representing the borrower was led by Associate Director Leon McBroom and Managing Director Josh Simon.
Image courtesy of Taxi by Zeppelin