August 2, 2021
Prime Rate

Posts in Featured Transactions

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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Closed Loan Spotlight - Central Park Business Center

Essex Financial Group has arranged a $20 million construction loan for Confluent Development to develop the Central Park Business Center, a speculative infill industrial business park that will be located at the intersection of Interstate 70 and Central Park Boulevard.  The 243,950 square foot industrial park is scheduled to break ground in March 2021 and will feature two (2) Class A buildings that will be divisible down to 20,000 square foot bays.  Both buildings will offer a front-park, rear-load design with 60-foot speed bays, dock-high and drive-in loading, 28-foot clear heights, ESFR sprinklers, and a combined 248 parking spaces (over 1 space per 1,000 SF)....

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