December 7, 2021
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Posts in Featured Transactions

Closed Loan Spotlight - Heritage I & II

Essex Financial Group arranged a $29 million permanent loan to finance Heritage I & II, an office property located in North Dallas. The Borrower purchased the 367,682 square foot asset in May 2021 in an all-cash transaction. Occupancy at the time of purchase was 73% and the Sponsor has since invested significantly in the leasing, bringing it up to 83% within the first 120 days. The property had recently undergone $7.1M in renovations and upgrades prior to the change in ownership.Essex placed the non-recourse permanent loan with a prominent national insurance company. The 7-year loan features a competitive fixed interest rate with one year of interest-only, follow...

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Essex sources $18,400,000 bridge loan for portfolio acquisition in Westminster

Westminster, CO (June 24, 2021) – Essex Financial Group (“Essex”) has secured an $18,400,000 bridge loan for the acquisition of 7237, 7401 and 7403 Church Ranch Boulevard (“Church Ranch Portfolio”) by a joint venture between CWCapital Investment Management (“CWCapital) and Kenai Capital Advisors (“Kenai”). The loan proceeds were used to acquire the three properties and one development parcel, and fund future leasing capital to stabilize the buildings and manage future lease renewals.     The Church Ranch Portfolio is comprised of three single-story, institutional quality office / flex buildings situated on 12.6 acres in a campus like setting located directl...

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Closed Loan Spotlight - Denver Airport Business Park

Essex Financial Group arranged a $9 million permanent loan for BD Omni #1, LLC, a Colorado limited liability company co-managed by H. Dean Properties and Benitez Asset Management, LLC to refinance Denver Airport Business Park, an industrial flex property located in the airport submarket of Denver, CO. BD Omni #1, LLC purchased the three-building portfolio totaling 91,500 square feet in 2014.Essex placed the $9M permanent loan with a national credit union in a cash-out refinance transaction. The 10-year loan features a competitive fixed interest rate with three years of interest-only, followed by a 30-year amortization. The loan is open to prepayment throughout the li...

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Closed Loan Spotlight - Interquest Park

Essex Financial Group has arranged a $34.275 million bridge loan to recapitalize 10125 & 10205 Federal Drive (“Interquest Park”) in Colorado Springs, CO for Flywheel Capital (“Flywheel”).  Loan proceeds are being used to refinance the existing debt, retire preferred equity in the capital stack, and provide additional leasing capital for Flywheel to complete its business plan.  Interquest Park consists of a 191,181 square foot office building and a 97,094 square foot industrial building, both of which were built for Quantum Corporation’s regional headquarters in 1998.  The concrete structures reside on 25.85 acres in Northern Colorado Springs and provide...

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