NorthMarq Capital’s Denver office arranges $3.45 million financing for 740 South Pierce Avenue in Louisville, Colorado

DENVER (March 23, 2016) – NorthMarq Capital’s Denver office recently arranged permanent financing of $3,450,000 for a 72,741 sq. ft. light industrial building located within the Colorado Technology Center in Louisville, Colorado. The property is located at 740 South Pierce Avenue at the entrance to the business park. The building, constructed in 1982, has recently undergone a significant renovation. The property is managed and leased by Freeman-Myre. The loan was arranged by Stephen P. Bye, executive vice president/senior managing director of NorthMarq Capital’s Denver office and was assisted by Conor McCahill, senior investment analyst. “The loan was structured with a 15 year term and 15-year amortization schedule with a fixed interest rate at 4.125 percent for the entire term of the loan. Although the property was 85 percent leased at the time of the funding, the lender did not require any holdbacks for lease-up reserve costs, or for the renovation work that was continuing at the building,” said Bye. “The financing was provided by a NorthMarq correspondent life insurance company.”