Berkadia Helps Finance, Sell Denver-Area Apartment Community

Berkadia has arranged the sale and financing of Trailpoint on Highline, a 198-unit apartment community located in Aurora, Colorado. Berkadia’s Nick Steele and Nate Moyer represented the seller, Castle Hill Corporation, a private investment firm based in Austin, Texas. 

A Berkadia team that included Matthew Robbins secured acquisition financing on behalf of the buyer, Trion Properties, a multifamily real estate investment company based in Los Angeles and Miami.  Trion paid $209,000 a unit, or $41.3 million for the property.

Freddie Mac provided a $28.324 million, fixed-rate loan of 5.09% with a five-year term at 68.4% loan-to-value and three years of interest only. The property was 96% occupied at the time of sale.  

Berkadia’s Robbins added, “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.” 

Trailpoint on Highline was built in 1984 and offers one- and two-bedroom apartments ranging from 630 square feet to 830 square feet.