8020 Steele Street
Denver, Colorado
$5,250,000
Permanent
Life Insurance Company
Transaction Details
8020 Steele Street is newly built, single-tenant industrial building that is 100% occupied by Samuel, Sons & Co. on a long-term lease. The state-of-the-art building, located in Denver, Colorado, contains 70,000 square feet and was built to fulfill the tenants on-going growth and future business needs
The Proposition
The property owners developed the BTS site as part of their long-term investment strategy to own quality real estate assets in core locations. The strong private credit of the tenant provided additional strength to the long-term hold. The property owner’s objectives included refinancing its construction debt and locking in a low, long-term rate.
Our Solution
Essex Financial Group helped arrange a $5,250,000 non-recourse loan with one of its exclusive life insurance company relationships. The 20-year loan has a competitive fixed interest rate.