October 18, 2018
Prime Rate
5.25%
2.28%
3.21%
3.23%
Photo of Frontier Warehouse
Property Type
Industrial
Transaction Details

$12,000,000 Permanent
Life Insurance Company

Transaction Name
Frontier Warehouse
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Transaction Details

Frontier Warehouse is a 2-building, multi-tenant industrial asset in Boulder, CO. The Subject Property consists of approximately 190,000 square feet on 11 acres, and the asset was 100% leased to eight (8) tenants at time of refinance.

Our Solution

Essex arranged $12,000,000 in non-recourse financing to refinance the Subject Property and payoff an existing loan. The borrower was in a fixed prepayment period and decided to refinance the property early with a new 10-year loan, given the current rising interest rate environment. Essex sourced the loan with one of its correspondent life insurance company lenders.