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Basic Information

Reference Number

0000294741

Issuing Organization

Aurora Housing Authority

Solicitation Type

RFP - Request for Proposal (Formal)

Solicitation Number

RFP20220703

Title

RFP20220703 First Mortgage for Refinancing Residences at First Avenue

Source ID

PU.AG.USA.2017.C2692951

Details

Location

United States, Colorado, Alamosa County

Delivery Point

Aurora, CO

Purchase Type

One Time Only- Delivery Date:tbd

Piggyback Contract

Description

The Housing Authority of the City of Aurora (AHA) is seeking proposals for the refinancing of its largest multifamily complex Residences at First Avenue located in Aurora, Colorado. The refinancing would include the existing 1st and 2nd mortgages currently secured by the property and maturing
January 1, 2023. The proposal would be based on the following approximate information:

Approximate Debt Request - $12 million
- Permanent Debt Takeout - $11.2 million
- Capital Project Costs -$ 800,000
Collateral is - 181 townhome style units
Ideal refinance date would be prior to 1/1/2023
Term requested of at least 5 years
Amortization Period at least 30 years
Recent Opinion of Value places property value above $30 million

The property is located at 112 Kenton St. Aurora, CO 80011. Previous 3 years of audited financial statements and rent roll as of 6/30/2022 will be provided. Additional financial information is available upon request. Responses in the form of a term sheet are due Monday, August 15th 2022 by 4:00 PM MDT to larney@aurorahousing.org or via regular mail. Term sheet must include the following minimum information:

Loan Amount
Loan-to-value requirements
Loan term
Amortization term
Loan interest rates
Application fees, Origination fees, appraisal costs, legal fees, rate lock fees and other borrower costs
Pre-payment options and any lock-out periods or costs associated with perm loan pre-payment

Dates

Publication

07/22/2022 02:12 PM MDT

Question Acceptance Deadline

08/01/2022 03:00 PM MDT

Questions are submitted online

Closing Date

08/15/2022 04:00 PM MDT

Contact Information

Les Arney

larney@aurorahousing.org

Bid Submission Process

Bid Submission Type

Electronic or Physical Bid Submission

Pricing

Lump sum

Bid Documents List

Item Name	Description	Mandatory	Limited to 1 file
Bid Documents	Documents defining the proposal	No	No
No entries