September 21, 2017
Prime Rate
4.25%
1.24%
2.26%
2.17%
Photo of Aurora Marketplace
Property Type
Office
Transaction Details

$25,000,000 Permanent
Life Insurance Company

Transaction Name
Aurora Marketplace
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Transaction Details

Aurora Marketplace is an 8 building office campus totaling 560,000 square feet in Southeast Denver. The buildings were constructed between 1977 – 1981 and include structured parking. The property’s location near the intersection of Interstate 225 and Parker Road allow for tremendous freeway access and visibility.

The Proposition

The property was acquired in an all-cash transaction at the end of 2016. Essex Financial Group was approached by the Sponsor to help arrange non-recourse, permanent financing.

Our Solution

Essex Financial Group arranged a $25,000,000 non-recourse loan with one of its correspondent life insurance company relationships. The loan has a highly-competitive interest rate that is fixed for seven years and also provides the Sponsor with prepayment flexibility in the second half of the loan term.