NorthMarq Capital arranges refinancing of $6.5 million for Walnut Business Center in Boulder, Colorado

DENVER (November 24, 2014) – NorthMarq Capital’s Denver office arranged a $6.5 million permanent loan for the Walnut Business Center located at 3201-3297 Walnut St; 3220-3240 Prairie Ave; and 1925-1965 33rd St. in Boulder, Colorado. Constructed from 1959-1991, the property contains 113,594 square feet and is located on 6.43 acres. The project is comprised of eight, multi-tenant industrial/flex buildings which are 100% leased and occupied. Steve Bye, executive vice president and senior managing director and Brian Fisher, investment analyst, arranged the refinancing for a long-term client through their correspondent relationship with a life insurance company. “I have arranged permanent financing for this project four times over the past 20 years. The age, design and layout of the buildings are not typical for industrial/flex properties,” said Bye. “However, the project has had a historical occupancy over 95% and its location in the heart of the City of Boulder drives tenant demand.”