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Phoenix & Southwest  + Southwest  + Apartments  |  June 30, 2022
Ascent Westminster gets $69 Million HUD Refi Loan
Mike Boyd
By: Mike Boyd

Denver Apartment Owner Gets $69 Million Refinancing Loan

NewPoint helped the owner, Ascent Westminster find the $69 million loan which enabled the group to refinance the property. NewPoint’s John Motzel has more details, “The 223 (f) program is known for its attractive pricing and terms, and we secured a historically low fixed rate, 35-year loan by utilizing a green Mortgage Insurance Premium reduction.” Due to its LEED certification, it took the premium down from .60% to .25%

Built in 2019, the property ensures that 20% of the units are affordable at 80% of the areas median income. The five-story building has a pool, fitness center, sports simulator, barbecue grills and a club room. It’s in the town of Westminster, a Denver suburb.

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Inside The Story

John Motzel

About Mike Boyd

Mike covers our Texas and Phoenix/Southwest regions. He is a veteran news reporter who spent 10 years in radio and television news, mostly in Tucson, Arizona. Following his career in the media, he spent ten years as a communications executive for a publicly traded development company. Mike is married with three boys and three Huskies.
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