HFF (NYSE:HF) reports debt and equity capitalization for a $102.3M acquisition and renovation of a seven-property, 1,178-unit multi-housing portfolio in Colorado Springs.
HFF’s client, Slipstream Properties gets an interest-only loan with a national lender at a floating interest rate of 3.50% over 30-day LIBOR. The total loan commitment equals 79% of the expected total project costs, including renovation costs.
The deal also included finding a joint venture equity partner for Slipstream.
Previously: HFF reports sale of Manhattan office tower for $640M (May 25)