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Boutique Senior Living Community in Suburban Denver Financed
The Avenues Crofton Park, a 90-unit, 55-plus age-restricted independent living community in suburban Denver, received $21.4 million in financing. Developed by McBroom Company and managed by The Avenues Company, the asset at 12431 King Ct. in Broomfield features 70 rental apartment homes and 20 cottages.
HFF’s Leon McBroom worked exclusively on behalf of The Avenues Crofton Park, LLC to secure the 10-year, fixed-rate financing through Freddie Mac’s CME Program. The securitized loan will be serviced by HFF.
The 98%-occupied property includes residences featuring 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. Amenities include an outdoor living space with a fire pit, grill, outdoor kitchen and sitting areas, open demonstration kitchen, events room, fitness center with yoga space, and community gardens.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Financing