Northmarq arranges $20M acquisition financing of Castle Rock Industrial at The Meadows facility
CASTLE ROCK, Colo. — Northmarq’s New York area Debt + Equity team led by Charles Cotsalas and Ernest DesRochers successfully arranged the $20 million refinance of Castle Rock Industrial at The Meadows, a 157,870-sq.-ft. industrial distribution and warehouse located at 3563-3593 Timber Mill Parkway in Castle Rock, Colorado.
Northmarq arranged the permanent-fixed financing on behalf of the borrower, Sound Capital LLC., through one of its insurance company lending relationships. The transaction structure provided a seven-year term, 3.5 years interest only, followed by a 30-year schedule with stepped down prepayment flexibility. The acquisition financing was part of a 1031 exchange for two nearly constructed industrial/warehouse buildings that are 100% occupied.
“The insurance company was able to meet a tight timeline, and the borrower also had the option of locking rate up until the time of closing,” said Cotsalas. “This was a flawless execution, as close as one gets to 100% certainty of closing.”
Built in 2023, Castle Rock Industrial at The Meadows features two buildings on a roughly 13.6-acre lot. The industrial building features 24-foot ceilings and has 101 parking stalls. It features 30 docks, including 14 knockouts, and 12 drive-ins for loading. The property is 100% occupied under triple-net leases.
The site is conveniently located near Interstate 25 and U.S. Hwy 85 and sits 35 minutes from Denver and 45 minutes from Colorado Springs.
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Northmarq is one of the largest privately held commercial real estate firms in the United States, combining a nationwide presence with deep local expertise. With more than 50 offices across the country, we provide a full suite of debt, equity, investment sales, loan servicing and fund management solutions for a comprehensive range of property types. Our unique structure allows us to connect clients with the best opportunities, yet be nimble enough to ensure access to every expert across our company. The firm manages a loan servicing portfolio of over $80 billion and has completed $91.3 billion in transactions over the past fours years. At Northmarq, collaboration fuels results, helping clients achieve success in every market, nationwide.
