American Housing acquired the 1,407-unit portfolio from Denver-based Urban Inc.
Tremont advised on the placement of financing with the Colorado Housing Finance Authority, the state agency providing the subsided financing for the housing deals in Colorado.
"The CHFA loan funded over 95% of acquisition costs and allowed our client, American Housing, to close the transaction within the abbreviated time frame permitted under their purchase contract," says John Chase, senior director from Fremont's Annapolis, MD office, who handled the deal. "While state agencies sometimes get bad publicity for taking too long to complete deals, we have nothing but praise on how professional this CHFA loan was handled.
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