Colorado-Real-Estate-Journal_286633

Page 24 - June 15-July 5, 2022 www.crej.com Finance Local. Comprehensive. Trustworthy. Our commercial banking experts are ready to partner with you to help manage your nances so you can focus on growing your business. FFB has a suite of services and options to t your unique commercial business needs. BUILD A STRONG FOUNDATION FOR YOUR BUSINESS • Treasury Services • Commercial Lending Options • Online & Mobile Banking • Merchant Services • Payroll & Asset Management And more Visit b.com to learn more Want to purchase minerals and other oil/gas interests. Send details to: P.O. Box 13557 Denver, CO 80201 by Jenna Walters FRONT RANGE – JLL Capital Markets arranged a $54 million refinance loan for a four-build- ing retail portfolio in the Denver metro area and Fort Collins. Eric Tupler of JLL worked on behalf of the borrower, Denver- based Gart Properties, to secure the 10-year, fixed-rate, nonre- course loan for the portfolio, comprising Indian Tree Shopping Center at 7705-7739 Wadsworth Blvd. in Arvada; Saddle Rock Vil- lage at 7400 S. Gartrell Road in Aurora; Micro Center Shopping Center at 8000 E. Quincy Ave. in Denver; and the Pavilion Shop- ping Center at 4200-4372 S. Col- lege Ave. in Fort Collins. According to JLL, the funds, provided by a life insurance company, were used to retire existing debt and allowed Gart Properties to realize significant value created through the reno- vation and repositioning of the portfolio, including strategic leasing and management over several years. At closing, the portfolio was 92.5% occupied by a mix of ten- ants, including Sprouts Farm- ers Market, Super Target, Ace Hardware, Anytime Fitness, Christy Sports, Hand & Stone, Michaels, Micro Center, Natural Grocers, Sherwin Williams and T.J. Maxx. s Gart Properties refinances retail portfolio with $54M loan by Jenna Walters BOULDER – JLL Capital Mar- kets secured $27 million in acqui- sition funds for a six-building flex portfolio in Boulder. Jason Carlos and William Haass of JLL worked on behalf of borrower Good Investment Partners to place the floating- rate acquisition loan through Argentic Investment Manage- ment LLC. The borrower used the funds to purchase the flex port- folio, totaling 184,462 square feet at 4695, 4697 and 4699 Nautilus Court, and 6797, 6837 and 6899 Winchester Circle. Led by GIP Managing Partner Ryan Good and Vice President Hannah Cope, the borrower acquired the asset from Westside Investment Partners for $39 million. Spanning approximately 13 acres northeast of downtown Boulder, the portfolio accom- modates a variety of uses, such as shallow-bay industrial, distri- bution, manufacturing, produc- tion, flex/office, and research and development. Additionally, it features 21 grade-level doors, 19 dock-high doors and ample parking. At closing, the asset was approximately 95% occupied by a mix of tenants, including Spark Grills, Encision, Sunrise Medical and other local users. According to JLL, the borrower will implement a capital improve- ment plan to enhance and mod- ernize the 1980s-built portfolio, providing best-in-class space for small to midsize companies in the market. Other News n PARKER – Denver-based PlattPointe Capital arranged an $8.95 million construction loan for a condominium project in Parker. The capital advisory firm worked on behalf of an unnamed sponsor to secure the nonrecourse loan, featuring a 70% loan-to-val- ue ratio and no presale require- ments. The funds will be used to construct 36 for-sale condo- minium units, the first phase of a larger, 128-unit residential project. Upon completion early next year, the development will offer a mix of two-bedroom units rang- ing from 970 to 1,275 square feet. n COLORADO – The Nation- al Council of State Housing Agencies awarded the Colorado Housing and Finance Author- ity a $150,000 grant to support affordable housing across the state. The Robert Wood John- son Foundation -funded grant will support CHFA’s Housing, Health and Equity Partnership Plan, which focuses on develop- ing and/or preserving affordable housing that is sustainable and energy efficient, offers healthy liv- ing components, and is proximal to healthy food, transportation, quality health care and employ- ment choices. “Affordable housing is a major contributor to a stable and healthy quality of life. This grant will sup- port our work to advance strate- gic partnerships within the health care, housing and philanthropic community to support affordable housing options and improved health outcomes for Coloradans,” said Cris White, CHFA executive director and CEO. s JLL arranges $27 million loan for Boulder flex portfolio buy Good Investment Partners recently bought a flex portfolio in Boulder with funds secured by JLL.

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