October 4, 2022
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Posts in Recent Transactions

Essex Secures a $13.8M Acquisition Loan for Boulder County Industrial/Flex Property

Longmont, CO – Essex Financial Group (“Essex”) arranged $13.8M in acquisition financing for the purchase of Front Range Business Park, a two-building, 117,106 SF industrial/flex complex located in Boulder County. Essex worked on behalf of the buyer, Ivy Realty, to source the seven-year, fixed rate loan for the acquisition with a regional bank. Front Range Business Park is 100% leased to the State of Colorado’s Front Range Community College (“FRCC”), the largest community college in Colorado, on a long-term lease. Built in 1988, the property was originally designed for small bay industrial/flex use and includes 9 dock-high loading doors between the two buildings. It...

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Essex Arranges $46.5M in Financing for Two Colorado Office Acquisitions

Essex Financial Group (“Essex”) arranged two (2) acquisition loans on behalf of CentrePoint Properties and Dunton Commercial (“Sponsor”).  The loans facilitated the purchase of the Interquest Portfolio (241,232 square feet of Class A office/flex in Colorado Springs) and 6th Avenue West (124,010 square feet in Golden, Colorado).The Interquest Portfolio is one of the best-in-class, single-story office properties in Colorado Springs and is located along I-25 in the premier Interquest Business Park. The single-story office/flex portfolio is 82% leased to a mix of technology and healthcare tenants, and more than 75% of the in-place tenants have publicly traded invest...

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Essex Arranges $11.0M Loan for Littleton, Colorado Industrial Property

Littleton, CO – Essex Financial Group (“Essex”) secured $11.0M in post-acquisition financing for Chatfield Distribution Center, an 88,152 SF light industrial property located in Littleton, Colorado. Nicola Wealth Real Estate (“Sponsor”), purchased the asset at the end of 2021. Essex arranged the permanent financing with a life insurance company at a highly attractive rate with some interest only and prepayment flexibility.  Chatfield Distribution Center is 100% occupied with the majority of the tenants having a tenure over 10 years.  Constructed in 1997, the property features 25-30% office finish build outs, both dock and drive-in loading and flexible...

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Essex Arranges $29.25M in Permanent Financing for Northern Colorado Multifamily Properties

Essex Financial Group (“Essex”) secured two permanent loans totaling $29.25M for M. Timm Development, Inc. (“Sponsor”) for two of its multifamily properties. Both loans were sourced from the same prominent national life insurance company who provided a more competitive interest rate than both of the government agencies. The loans were rate-locked in September 2021 for a funding in February 2022. Both loans were low-leverage and featured full-term interest-only. Grandview Meadows Apartments is comprised of 144 units across six, three-story buildings totaling 142,308 SF. The property represents Phase I of a four-phase multifamily development by the Sponsor, totaling 508...

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