This Week’s Denver Deal Sheet
Trion Properties purchased a 198-unit apartment complex in Aurora known as Trailpoint on Highline for about $28.3M, according to a press release.
Freddie Mac provided financing through a fixed-rate loan with a five-year term at a 68.4% loan-to-value ratio and three years of interest-only payments. Berkadia South Florida Senior Managing Director Mitch Sinberg, Managing Directors Brad Williamson, Scott Wadler and Matthew Robbins, and Vice President of Originations Abigail Beauchamp helped secure the financing on Trion’s behalf.
“Trailpoint on Highline’s central location relative to significant employers, retail, recreation and entertainment provided an exciting opportunity to acquire a well-located asset in a high-performing submarket,” Robbins said in a statement. “We were able to utilize Freddie Mac’s index lock feature to catch a dip in the Treasury in order to deliver an aggressive fixed-rate coupon for our client.”
SALES
3 Little Birds Salon purchased Suite 101 at 837 East 17th Ave. in Denver for an undisclosed sum. David Ray of Column Commercial Partners represented the buyer in the retail acquisition.
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Stratton Oak II LLC, a real estate acquisition and investment firm, purchased an industrial property at 2323 South Lipan St. in Denver for about $4.25M. Tanner Mason of Benchmark Commercial Real Estate represented the buyer, SSR Properties LLC.
LEASES
Cradle to Crayons leased 7,500 SF of office space at 1961 Youngfield St. in Golden for an undisclosed term. Tanner Mason of Benchmark Commercial Real Estate represented the tenant.
