IRVINE, CA – HFF announced it has arranged an $11 million financing for Warehouse Central (top left photo) a 325,858-square-foot industrial building in Denver, Colorado.
HFF worked on behalf of IBC Holdings to secure the five-year, fixed-rate loan through a national life company. HFF will also service the loan.
The property is located at 2300-2550 West 5th Avenue near the Grand Army of the Republic Highway and Interstate 25 interchange. The property is 91 percent leased and includes approximately 10 percent office space.
The HFF team representing the borrower was led by senior managing director Kevin Mackenzie (middle right photo) and director Josh Simon (lower left photo).
“The lender displayed an excellent understanding of the asset and provided a flexible loan structure that allowed the borrower to execute their business plan while maintaining an attractive cost of capital,” commented Mackenzie.
IBC Holdings, LLC is a commercial real estate firm that specializes in the acquisition, development and redevelopment of industrial and office properties in select U.S. markets. IBC concentrates its research driven efforts in primary and some secondary cities.
Its market driven strategy is threefold;
- Opportunistic acquisition of quality assets at a discount to replacement cost,
- Creating value from the repositioning of existing facilities, and
- Developing an inventory of general purpose industrial buildings.
Contacts:
KEVIN C. MACKENZIE
HFF Senior Managing Director
(949) 253-8800
OLIVIA N. HENNESSEY
HFF Associate, Marketing
(713) 852-3500
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