HFF announces $52.4M financing for fully leased office building in Englewood, Colorado
WASHINGTON, D.C. – October 24, 2017 – Holliday Fenoglio Fowler, L.P. (HFF) announces $52.4 million in acquisition financing for a trophy office asset totaling 223,177 square feet at 9151 East Panorama Circle in Englewood, Colorado.
The HFF team worked on behalf of Bentall Kennedy and Warba Bank to secure the five-year, 3.41 percent fixed, full-term, interest-only loan through a correspondent life insurance company lender.
Completed in 2017, the property is fully leased to a single credit tenant, Arrow Electronics. Designed to the highest standards, the building features column free rectangular floor plates, mountain views and the highest structured parking ratio in the Rocky Mountain region at 5.9 per 1,000 square feet (1,325 spaces). Additionally, tenants have access to amenities such as an employee kitchen, cafeteria, 8,000 square feet of meeting space and a state-of-the-art fitness center with showers and a locker room. Located within the Panorama Corporate Center, the property is proximate to the Dry Creek light rail station, Interstates 25 and 225, E-470, Centennial Airport, and more than 6.5 million square feet of retail and restaurants within a mile and a half of the property. The Panorama/Highland Park submarket where the asset resides is the best performing submarket in Denver, with a direct vacancy rate of just 2.4 percent.
The HFF debt placement team representing the borrower included managing director Cary Abod and senior managing director Eric Tupler.
About Bentall Kennedy
Bentall Kennedy, a Sun Life Investment Management company, is one of the largest global real estate investment advisors and one of North America's foremost providers of real estate services. Bentall Kennedy serves the interests of more than 550 institutional clients with expertise in office, retail, industrial and multi-residential assets throughout Canada and the U.S. Bentall Kennedy's Investment Management group has approximately $46 billion (CAD)/$36 billion (USD) of assets under management (as of June 30, 2017). Bentall Kennedy is also one of the largest real estate services providers in Canada, managing 58 million square feet on behalf of third-party and investment management clients (as of June 30, 2017). Bentall Kennedy is a member of UN PRI and a recognized Responsible Property Investing leader ranked among the top firms around the globe in the Global Real Estate Sustainability Benchmark (GRESB) for the seventh consecutive year since GRESB was launched.
Bentall Kennedy includes Bentall Kennedy (Canada) Limited Partnership, Bentall Kennedy (U.S.) Limited Partnership and the real estate and commercial mortgage investment groups of certain of their affiliates, all of which comprise a team of real estate professionals spanning multiple legal entities. The assets under management shown above include real estate equity and mortgage investments of the companies within Bentall Kennedy. The information in this press release does not constitute an offer to sell or a solicitation of an offer to buy securities or investment services.
For more information, visit bentallkennedy.com
About Warba Bank
Warba Bank was established pursuant to Emiri decree and was officially registered as an Islamic bank by the Central Bank of Kuwait on 5 April, 2010. It offers a bundle of integrated services and banking solutions that comply with the Islamic sharia, and such services are offered through three business groups, namely, the Retail Banking Group, the Corporate Banking Group and the Investment Banking Group. The bank has 12 branches in strategic locations with over 350 employees working under its umbrella in the State of Kuwait. For more information, visit: warbabank.com
HFF and its affiliates operate out of 24 offices and are a leading provider of commercial real estate and capital markets services to the global commercial real estate industry. HFF, together with its affiliates, offers clients a fully integrated capital markets platform including debt placement, investment advisory, equity placement, funds marketing, M&A and corporate advisory, loan sales and loan servicing. HFF, HFF Real Estate Limited, HFF Securities L.P. and HFF Securities Limited are owned by HFF, Inc. (NYSE: HF). For more information, please visit hfflp.com or follow HFF on Twitter @HFF.