Page 26 —
COLORADO REAL ESTATE JOURNAL
— March 16-April 5, 2016
Finance
30 years.
In the largest single transac-
tion, she arranged a $3 million
recourse loan with
1050 Ogden
LLC
for the refinance a 23-unit
apartment complex at 1050
Ogden St. in Denver. The five-
year, fixed-rate loan has a 3.8
percent interest rate.
Other loans by Murphy
include:
•A $2.75 million recourse loan
with
Charles & Carol Semple
Living Trust
for the refinance of
a 36-unit apartment community
at 1424 Pearl St, in Denver. The
seven-year, fixed-rate loan has
an interest rate of 3.8 percent;
•A $1.6 million nonrecourse
loan with
Clay Street Apart-
ments LLC
for the purchase of
a 20-unit apartment complex at
4353-4373 Clay St. in Denver.
The seven-year, fixed-rate loan
has an interest rate of 4.13 per-
cent;
•A $1.2 million recourse loan
with
Ash and Bellaire LLC
for
the purchase of a 16-unit apart-
ment complex at 1194-1196 Ash
St. and 1181 and 1185 Bellaire St.
in Denver. The adjustable loan
follows the 12-month Treasury
average index with a starting
rate of 2.89 percent;
•A $1.16 million nonrecourse
loan with
PJM Investments
LLLP
for the refinance of a 12-unit
apartment complex at 3460Mad-
ison Ave. in Boulder. The seven-
year, fixed-rate loan has an inter-
est rate of 3.95 percent;
•A $1.08 million recourse loan
with
LAJ & Associates LLC
for
the refinance of a 22-unit apart-
ment complex at 172 W. Ida Ave.
in Littleton. The five-year, fixed-
rate loan has an interest rate of
3.9 percent;
•A $887,500 recourse loan
with
Carol E. Quinn
for the pur-
chase of an 11-unit apartment
complex at 2412 S. York St. in
Denver. The five-year, fixed-rate
loan has an interest rate of 3.45
percent; and
•A $850,000 recourse loan
with
Carol E. Quinn
for the
refinance of a 12-unit apartment
complex at 1152 York St. in Den-
ver. The five-year, fixed-rate
loan has an interest rate of 3.68
percent.
n
Brandon Rogers
and
Amy Gibson
of
Terrix Finan-
cial
recently arranged $2.59
million in acquisition financ-
ing for a recently constructed,
8,442-square-foot retail center in
Colorado Springs.
The center is 100 percent occu-
pied by five tenants.
The 10-year loan carries a 3.75
percent interest rate for the first
three years, 4.5 percent for years
four through seven and 4.75
percent for years eight through
10. It is amortized over 25 years.
n
Brandon Rogers
and
Jay
Richert
of
Terrix Financial
arranged a $1.6 million nonre-
course loan for the acquisition of
an 18-unit apartment building
in Denver. The four-story apart-
ment building was built in 1911.
The five-year, 65 percent loan-
to-value financing is interest-
only for the first 18 months. A
regional bank made the loan.
The lender also allowed the
seller to carry a second position
in the transaction. The lender
closed the loan in about 40 days.
n
Josh Simon
and
Eric Tupler
of the Denver office of
Holliday
Fenoglio Fowler LP
represented
Advenir
in acquisition financing
for a 480-unit apartment com-
munity in Houston. The amount
of the loan was not disclosed.
The seven-year, floating-rate
loan has a 2.82 percent interest
rate. The securitized loan will
be serviced by HFF through its
Freddie Mac Program Plus Sell-
er/Servicer program.
Cortney
Cole
of HFF’s Houston office
also was involved in the trans-
action.
n
Brandon Rogers
and
Amy
Gibson
of
Terrix Financial
arranged a $1.88 million cash-
out refinance for a 19,440-sf
industrial building in Nevada.
s
Chase
the in-place rents,” said Patrick
Devereaux, who represented the
seller with fellow JLL Executive
Vice President Jason Schmidt.
The Greenwood Village prop-
erty was 86 percent leased at clos-
ing. PepsiCo, the General Servic-
es Administration and Poms &
Associates, an insurance broker-
age firm, are the largest of nearly
30 tenants.
The buildings were built in
1975, and renovated in 2007 and
2014.
Devereaux said there was “tre-
mendous investor activity” for
the Offices at the Promenade,
which he called a “tremendous
piece of real estate.”
“I think we had close to eight
offers to purchase the property.
This is a best-of-class B property
in the northern end of the Den-
ver Tech Center,” he said. “It’s a
small-tenant building with good
risk diversification.”
The BelleviewPromenade retail
center, with Cool River Cafe,
Starbucks, Bar Louie, Il Fornaio,
and numerous other restaurants,
retailers and service providers, is
a three-minute walk out the front
door.
The office buildings occupy
8.75 acres, which Devereaux said
is one of the larger land parcels
within the DTC. The south side
of the property, between the two
buildings, offers a parklike atmo-
sphere.
Office Plaza at Inverness sits on
7½ acres along the Inverness Golf
Course in Englewood and was
100 percent occupied at the time
of the sale.
A small-tenant property with
more than 40 tenants, the asset
saw interest from a couple of
investment companies and from
private investors, particularly
1031 exchange buyers out of Cali-
fornia.
“We saw a number of investors
from California look at the deal,”
said Rick Egitto of Inverness
Properties, who represented the
seller with Inverness Properties’
Jeremy Reeves and Bill Wood-
ward. TomSwan ofAmcal South-
west represented Melcor.
Average rents are $16 per sf
gross, and current market rents
average $18.50 per sf, “So there’s
a nice upside there for Melcor to
take advantage of,” said Egitto.
A realignment of County Line
Road will bring the road right up
to the property, he said.
LuxuryhomebuilderToll Broth-
ers has its regional headquarters
at 8 Inverness. ConnectionsAcad-
emy, an online public school, also
has space in the building. Ethics-
Game, an online ethics education
provider, is a major tenant at 6
Inverness Court East.
The two-story buildings were
constructed from 1978 to 1980.
Office Plaza at Inverness fea-
tures floor-to-ceiling glass, an on-
site café, a common conference
room and 337 parking spaces.
s
Melcor
Office Plaza at Inverness was 100 percent occupied at the time of sale.
MMERCIAL REAL ESTATE LENDERS DIRECTORY
If you would like to include your firm in this directory,
please contact Jon Stern at 303-623-1148
Arbor Commercial Mortgage, LLC
Bank of America Merrill Lynch –
Commercial Real Estate
Bank of Colorado
Bank of the West
Berkadia Commercial
Mortgage, LLC
Bloomfield Capital Partners, LLC
Capital Source
CBRE|Capital Markets
Chase Commercial Term Lending
Colorado Business Bank
Colorado Lending Source
Commerce Bank
Commercial Federal Bank
Essex Financial Group
Fairview Commercial Lending
FirstBank Holding Company
Front Range Bank
Grandbridge Real Estate Capital LLC
Hunt Mortgage Group
JCR Capital
Johnson Capital
JVSC-CBRE Capital Markets
KeyBank N.A., Key Commercial
Mortgage Inc.
Merchants Mortgage and Trust Corp.
Midland States Bank
Montegra Capital Resources,
Private Lender
Mutual of Omaha Bank
NorthMarq Capital, Inc.
RNB Lending Group
TABS
TCF Bank
Terrix Financial Corporation
Trans Lending Corporation
U.S. Bank – Commercial Real Estate
U.S. Bank SBA Division
Vectra Bank Colorado, N.A.
Wells Fargo SBA Lending
Wells Fargo N.A. – Commercial
Real Estate Group
