LAFAYETTE, CO—HFF says it has secured a $34.5 million refinancing for Prana Apartment Homes, a 254-unit multi-housing property near Denver. 

Working exclusively on behalf of the borrower, LLJ Stratford Prana, LLC, HFF placed the 10-year, 4.74%, fixed-rate loan with Fannie Mae through HFF’s correspondent relationship with M&T Realty Capital Corporation.  The forward rate lock refinance replaced a significantly higher rate HUD loan, which was closed to prepayment until May 2014.  The new Fannie Mae loan provided the borrower with a lower overall interest rate and five years of interest-only amortization, as well as some cash-out proceeds above the existing loan balance.  

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