FinanceNewsResidential PropertyUncategorized

Acquisition Finance Raised for Residential Complex

Listen to this article

29.01.2021, 07:16

Acquisition Finance Raised for Residential Complex

Cushman & Wakefield has raised acquisition debt and joint venture equity financing for a 48-unit apartment complex in Boulder, Colorado.

The purchase transaction for Glenwood Village Apartments at 2747 Glenwood Ct closed with an equity investment of US $11,000,000 and debt financing of US $7,000,000 with a 30-month term of interest only payments, a fixed coupon of 3.25 per cent and non-recourse.

Financing was arranged by a team from  whose members included

Executive Managing Director of Cushman & Wakefield’s Denver Equity, Debt & Structured Finance Group, Baxter Fain, who worked on the project with colleagues, Christina Grimme and Sarah Dinning, describes Glenwood Village Apartments as “a great value add purchase”.


John Kirkland, owner-manager of the complex, adds: “This was an outstanding execution given the volatility and uncertainty of the period. This is an irreplaceable asset in the heart of one of the nation’s highest value markets that had not traded for 45-years.”

Fm Logo2020
Staff Reporter covers the latest news, trends and opinion from the facilities management (FM) and corporate real estate (CRE) sectors. The FM market is currently estimated to be worth USD 1 trillion annually and is projected to grow at a compounded annualised rate of approximately 5% between now and 2026.

CAMFIL HVAC Filtration Solutions

We've noticed you are using an ad blocker

Advertising helps bring you fresh independent content. Please disable the adblock plugin or settings in your web browser to access the content you are trying to reach on