HFF arranges $73 million in financing for 14-building industrial portfolio near Denver, Colorado
DENVER, CO – January 19, 2017 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has arranged a $73 million refinancing for a 14-building industrial portfolio totaling 1.93 million square feet of Class A distribution warehouse space in the Denver-area suburb of Aurora, Colorado.
HFF worked on behalf of the borrower, PAULS, to secure two 10-year, fixed-rate, full-term interest-only loans with Nationwide Life Insurance Company. HFF will service the loans, the proceeds of which were used to refinance an existing life company loan and a construction loan.
The portfolio properties feature clear heights ranging from 22’ to 32’ and buildings sizes ranging from 72,000 to 347,840 square feet. Constructed between 1996 and 2015, the buildings are leased to 40 tenants, including notable major tenants Whole Foods Market, VWR International, Simmons Company and MSI International. The portfolio properties are situated on a total of 111.72 acres in the East I-70/Montbello industrial submarket in northeast Denver. Positioned near the confluence of Interstates 70 and 225, the properties are within 10 miles of Denver International Airport and have easy access to the entire Denver metro area.
The HFF debt placement team representing the borrower was led by associate director Kristian Lichtenfels and senior managing director Eric Tupler.
“HFF did a wonderful job of sourcing, analyzing and executing the debt options for this industrial portfolio,” Brian Pauls with PAULS said. “The professional team of Eric and Kristian made our refinance process extremely efficient and productive. We are delighted with the results and appreciate the opportunity to work with such a professional team on an extremely important group of assets.”
PAULS is a leading capital management and real estate development firm dedicated to exceeding community real estate needs through residential, industrial, office and land development. With a deep understanding of investment management and a 40-year history of identifying and quickly executing on opportunities, PAULS continues to provide insight and value to its clients, partners and investors. Visit thepaulscorporation.com for more information.
HFF and HFFS (HFF Securities L.P.) are owned by HFF, Inc. (NYSE: HF). HFF operates out of 23 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry. HFF together with its affiliate HFFS offer clients a fully integrated national capital markets platform including debt placement, investment sales, equity placement, advisory services, loan sales and commercial loan servicing. For more information please visit hfflp.com or follow HFF on Twitter @HFF.