NorthMarq Capital’s Denver office arranges $4.7 million bridge financing for World of Tile Portfolio in Colorado Springs, Colorado
World of Tile Portfolio
DENVER (March 2, 2015) - NorthMarq Capital’s Denver office arranged a $4.65 million bridge loan for acquisition and redevelopment of three World of Tile stores in Colorado. Each building is located in an excellent, high visibility retail location along busy arterials. The three stores are in Highlands Ranch along C-470, South Santa Fe Drive in Englewood and N. Academy Boulevard in Colorado Springs. Paul Luber, vice president, arranged the three year’s non-recourse financing on behalf of the sponsor, Aspen Capital Partners, through a bridge lender. Luber commented on the financing assignment… “NorthMarq Capital is pleased to have assisted the Aspen Capital Partners with its financing needs for this strong value-add project. In addition to negotiating an advantageous purchase price, the sponsor has already executed a key part of its value creation plan by renewing the anchor tenant, World of Tile, in each of the three builds for seven year firm lease terms.”
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.
