DENVER, Colo. – Holliday Fenoglio Fowler, L.P. (HFF) announces $21.4 million in financing for The Avenues Crofton Park, a 90-unit, 55+ age-restricted independent living community in Broomfield, Colorado.
The HFF team worked exclusively on behalf of The Avenues Crofton Park, LLC, to secure 10-year, fixed-rate financing through Freddie Mac’s CME Program. The securitized loan will be serviced by HFF, a Freddie Mac Multifamily Approved Seller/Servicer for Seniors Housing Loans.
Developed by McBroom Company and managed by The Avenues Company, The Avenues Crofton Park features 70 rental apartment homes and 20 cottages. In 2016, the National Association of Home Builders recognized the community for excellence in senior living design in the Best of 55+ Housing Awards. The community’s spacious residences include modern kitchens with granite countertops, stainless steel appliances and pantries as well as walk-in showers, walk-in closets, high-efficiency washers and dryers, and private covered balconies or patios. Community amenities include an outdoor living space with a fire pit, grill, outdoor kitchen and sitting areas bordered by a water feature; open demonstration kitchen; events room; fitness center with yoga space; community gardens; billiard lounge and game room; private dining room and catering kitchen; library; onsite management and concierge services. The community is accessible to both Interstate 25 and Highway 36, providing connectivity to Denver, Boulder and the Rocky Mountains. The community was 98 percent occupied at closing.
The HFF team representing the borrower included director Leon McBroom.