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Essex arranges $53.7M acquisition financing for transit-oriented office campus

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As uncertainty looms, retail investors seek to lock more than just interest rate

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Cooper Williams Wins NAIOP 2018 Trailblazer Award

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Essex Financial Group Newsletter - January 2019

Below you will find the January 2019 edition of the Essex Financial Group Newsletter. Please use full screen mode for best results. 

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Essex Arranges $11.5M Financing for Coal Mine Retail Center

Coal Mine Retail Center is a 122,446 sf grocery-anchored retail center located in Littleton, CO. The property was most recently renovated in 1988 and major tenants include King Soopers, ACE Hardware, Goodwill, and US Bank. Prompted by a recent lease extension by the grocery store tenant at a higher rental rate, the Borrower wanted to re-finance the current debt on the property to lock in a competitive interest rate for a longer term. The prior debt on the property matured in 2023, therefore, the refinance triggered a prepayment penalty. In addition to sourcing quotes from both life insurance companies and CMBS lenders, Essex was able to strategize with the existing...

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Essex Announces $17.5M Financing for Denver’s Largest Marketplace

DENVER – Essex Financial Group (Essex) is proud to announce its involvement in the $17.5 million financing for Stanley Marketplace, a 105,000 square foot marketplace concept located in the heart of Denver’s affluent Stapleton neighborhood.  Essex worked on behalf of the borrower, Westfield, to secure a fixed-rate, life insurance company loan to refinance its existing construction debt.  Westfield is one of the preeminent full-service real estate firms in Denver, offering expertise and innovation in investment, development and management.         Originally a manufacturing facility for Stanley Aviation, Stanley Marketpl...

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Essex Names Cooper Williams as President

Essex Financial Group, which will close an estimated $750 million in commercial real estate loans this year, is changing the guard. J. Jeffrey Riggs, who founded the firm 26 years ago, is passing the baton to Cooper Williams, who has spent his entire professional career at Essex.“We are proud to announce that Cooper Williams, effective Nov. 1, is going to be the president of Essex Financial Group,” Riggs said from the company’s headquarters on the seventh floor of 1401 17th St. in downtown Denver earlier this week.Riggs, however, is not leaving or retiring from the company he founded, which originally was called Western Mortgage.“I’m a long way from retiring,” t...

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Essex Names Cooper Williams as President

Essex Financial Group, which will close an estimated $750 million in commercial real estate loans this year, is changing the guard. J. Jeffrey Riggs, who founded the firm 26 years ago, is passing the baton to Cooper Williams, who has spent his entire professional career at Essex.“We are proud to announce that Cooper Williams, effective Nov. 1, is going to be the president of Essex Financial Group,” Riggs said from the company’s headquarters on the seventh floor of 1401 17th St. in downtown Denver earlier this week.Riggs, however, is not leaving or retiring from the company he founded, which originally was called Western Mortgage.“I’m a long way from retiring,” t...

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Cooper Williams Closes Out Over $32.9 Million in Debt in June 2018

Essex Financial Group is the #1 originator of life insurance company debt in Colorado.  Below is a sampling of recent life insurance company loans that were originated and closed by Cooper Williams in June 2018. Arvada HGI - $16,800,000The Arvada Hilton Garden Inn (Arvada HGI) is a newly-constructed, 139-room limited-service hotel located in Arvada, CO.  Arvada HGI opened in March 2017 and has seen tremendous success, catering to both business travelers and tourists.  The limited-service hotel is located only a few blocks from Old Town Arvada and the Arvada Gold Line, which will provide light rail service to downtown Denver by 2018.   Esse...

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Life companies aggressively seek multifamily

Life insurance companies continue to show a strong appetite for commercial mortgages as a piece of their investment allocation. In 2017, life insurance companies originated over $61 billion of commercial mortgage debt, and feedback from our correspondent life insurance company lenders indicates that this appetite will continue through 2018. However, there is a trend toward more conservative, lower-risk loans as we move into the latter stages of the current economic cycle. For life insurance companies, that means two things: first, a focus on low-leverage transactions (sub-65 percent loan to value); and second, an increase in their asset allocations toward multifamily propertie...

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