JLL arranges $22.86M financing for 2 Denver-area apartments
Two-phased Phenix at Infinity Park receives Freddie Mac Green Advantage funding
DENVER, September 5, 2019 – JLL announces it has arranged financing totaling $22.86 million for Phenix at Infinity Park I and II, two adjacent multi-housing properties totaling 185 units in the Denver suburb of Glendale, Colorado.
Working on behalf of Glendale-based Slipstream Properties, JLL arranged two 10-year, interest-only, fixed-rate loans through Freddie Mac’s Green Advantage program. The loans will be serviced by Holliday Fenoglio Fowler LP, a JLL company and a Freddie Mac Optigo℠ lender. Loan proceeds were used to refinance existing loans on the properties.
The Phenix at Infinity Park I and II are situated along East Mississippi Avenue and South Dahlia Street one block southeast of Infinity Park, a sports, entertainment and events venue. In addition, the properties are two miles from the high-end Cherry Creek Shopping Center and approximately five miles southeast of downtown Denver. Phase I was most recently renovated in 2011 and Phase II was renovated in 2014. The buildings comprise a variety of one- and two-bedroom units, which are 97% occupied overall. Community amenities include a swimming pool, dog park, grilling areas and courtyards.
The JLL Capital Markets team representing the seller was led by Senior Director Kristian Lichtenfels.
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment advisory, debt placement, equity placement or a recapitalization. The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.
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JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. Our vision is to reimagine the world of real estate, creating rewarding opportunities and amazing spaces where people can achieve their ambitions. In doing so, we will build a better tomorrow for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $16.3 billion, operations in over 80 countries and a global workforce of nearly 92,000 as of June 30, 2019. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com