Carmel Bear Creek. Photo Courtesy HFF.

Holliday Fenoglio Fowler, L.P. (HFF) announced that it has closed the $48.25 million sale of and arranged $37.7 million in financing for Carmel Bear Creek, a 224-unit, Class A apartment community in Lakewood, Colorado.

HFF marketed the property on behalf of the seller, Carmel Partners. The asset was purchased by Jackson Square Properties. Additionally, HFF arranged the seven-year, floating-rate acquisition loan on the buyer’s behalf through Freddie Mac’s (Federal Home Loan Mortgage Corporation) CME Program.  

Carmel Bear Creek is located at 10117 West Dartmouth Place just north of Highway 285 with frontage along South Kipling Parkway, approximately 12 miles southwest of downtown Denver.  Renovated in 2014, the property has a mix of one-, two- and three-bedroom units averaging 922 square feet each.  The 11.38-acre property is adjacent to the 9.1-mile Bear Creek Trail that connects to downtown Denver via the Platte River bike path.

The HFF investment sales team representing the seller was led by managing director Jordan Robbins and associate director Jeff Haag.

HFF’s debt placement team representing the borrower was led by managing directors Charles Halladay and Josh Simon.