Eric Tupler and Jim Cobb of LJ Melody secured the permanent, fixed-rate financing for Hudson Ideal Co., a family-owned firm based in Boulder. The family has 3,500 apartment units under management and ownership. It has been operating since 1947.
Southview Place was built in 1973 and has 289,000-sf of net rentable space.
After Tupler and Cobb secured the financing, the loan was sold to Freddie Mac. The loan represents 72% of the cost with a loan term of seven years that is amortized over 30 years. It carries a fixed rate of 5.28%.
LJ Melody, based in Houston, is a CB Richard Ellis company and one of the largest real estate investment banking firms in the US.
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