BOSTON, MA – The Boston office of HFF (Holliday Fenoglio Fowler, L.P.) announced has secured $36 million in first mortgage financing for Mackenzie Place Union (middle left photo) and Mackenzie Place Oakridge, two senior living communities totaling 316 units in Colorado Springs and Fort Collins, Colorado.
Working on behalf of the Fidelity Real Estate Group, a unit of Pyramis Global Advisors, and HJ Sims Investments, LLC, an affiliate of Herbert J. Sims & Co., Inc., HFF senior managing director Dana Brome and senior real estate analyst Carlos Febres-Mazzei placed the five-year, fixed-rate loan with an account advised by the U.S. real estate business of UBS Global Asset Management.
The proceeds from this loan, together with $24 million of subordinated financing provided by an institutional investment fund managed by the Fidelity Real Estate Group, will be used by the existing borrower, HJ Sims, to complete a discounted payoff of the properties’ construction loan.
“We are very pleased to now have a flexible capital structure that provides sufficient time for the projects to achieve stabilization. The UBS debt secured by HFF was a key component of this complicated financing,” said James Scribner (bottom right photo), vice president of Herbert J. Sims & Co., Inc.
Contacts:
Dana E. Brome, HFF Senior Managing Director, (617) 338-0990,
Kristen M. Murphy, HFF Associate Director, Marketing(713) 852-3500,
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