LITTLETON, CO-L.J. Melody & Co. arranged $14 million in permanent, fixed-rate financing for the acquisition of the Southwest Place Towers in this city southwest of Denver. The 259-unit Southwest Place was built in 1973 and has 389,00-sf of rentable space.

L.J. Melody provided the funding on behalf of Hudson Ideal Cos., a family owned business based in Boulder. Hudson Ideal manages and owns 3,500 units. Freddie Mac subsequently purchased the loan.

Eric Tupler and Jim Cobb of L.J. Melody’s Denver office secured the funding. The loan represents 72% of cost with a loan term of seven years and a 30-year amortization schedule. The loan carries a fixed rate of 5.28%.

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