NorthMarq Capital arranges $8 million loan for flex/research and development buildings in Boulder County, Colorado
Two Industrial Properties
DENVER (November 13, 2014) – Stephen P. Bye, senior managing director of NorthMarq Capital’s Denver based regional office, arranged an $8 million loan secured by four flex/research and development buildings located in the Boulder Tech Center. Constructed from 1996-2000, the buildings comprise a total 169,596 square feet and range in size from 17,000 to 61,000 square feet. The properties are located at 6400 and 6450 Dry Creek Parkway and 6325 and 6450 Monarch Parkway in Boulder County. The loan was non-recourse for a fixed-rate term of 10-years at an interest rate of 3.77% with an amortization period of 25 years. “This was a low leverage loan that represented about a 40% loan-value,” said Bye. “Each building was leased to a single tenant with remaining terms of approximately five years or less. We were able to negotiate the elimination of any funded reserves for future tenant improvements, leasing commissions or capital improvements. In addition, partial releases of the collateral are allowed for a possible sale of each building.”
About Northmarq
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 $78 billion and has completed $69.5 billion in transactions over the past three years. At Northmarq, collaboration fuels results, helping clients achieve success in every market, nationwide. For more information, visit www.northmarq.com.
