DENVER (January 21, 2016) – NorthMarq Capital’s Denver office arranged permanent financing of $2,550,000 for Boulder Hill Retail building located at 1089 13th Street in Boulder, Colorado. The property is located on “The Hill,” a popular retail district adjacent to the campus of the University of Colorado. The 9,301 sq. ft. building, constructed in 1950, was originally built as a theater but since converted to retail space, which is 100 percent leased to five tenants.
Steve Bye, executive vice president/senior managing director and Mark Lindgren, investment analyst arranged the financing with an insurance company correspondent lender.
“The non-recourse loan was structured with a term of 17 years with a 17-year amortization schedule,” said Bye. “The interest rate was set at 4.15% for the entire 17 year term of the loan.”