 |
| Leon McBroom |
DENVER, CO –– Holliday Fenoglio Fowler, L.P. (HFF) announces
that it has arranged financing for the acquisition and re-positioning of
Westmoor Center Building 7, a 205,000-square-foot office building in the Denver
area community of Westminster, Colorado.
The HFF team worked on behalf of the borrower, CapRidge Partners, LLC, to
secure the three-year, floating-rate acquisition and bridge loan through
Pacific Western Bank.
HFF also handled the sale of
the adjacent Westmoor Place Buildings 8, 9 and 10 to CapRidge earlier this
month.
 |
| Andy Scott |
The property is located at
10955 Westmoor Drive within the 10-building Westmoor Technology Park in
Denver’s Northwest submarket, which is equidistant between Denver and Boulder.
This
location boasts strong area demographics with an average household income
within one mile of the property exceeding $111,000, which is nearly 20% higher
than the Colorado average.
Additionally,
the property is positioned along U.S. 36 in a highly amenitized area that
features more than 240 shops and restaurants at Flatirons Mall, The Shops at
Walnut Creek and Westminster Promenade, among others.
Completed in 2000, the four-story office
property is currently vacant. Prior to the building being vacant,
Westmoor 7 was 100% occupied by two tenants. Regus vacated in 2015 and
Ameritrade vacated in 2017 after they were acquired by Scottrade, the seller of
the asset.
 |
| Jim Curtin |
The HFF debt placement team representing the borrower included senior
managing director Andy Scott, managing director Jim Curtin and senior
director Leon McBroom.
About
CapRidge Partners
CapRidge Partners is a fully integrated investment management and operating company focused on value-add office properties in nine select U.S. markets, including Denver.
Since 2012, CapRidge has acquired 39 office buildings.
About Pacific Western Bank
Pacific Western Bank is a commercial bank with over $26 billion in assets and 74 full-service branches located throughout California and one branch in Durham, North Carolina.
CONTACTS:
JIM CURTIN
HFF Managing Director
(214) 265-0880
LEON MCBROOM
HFF Director
(303) 515-8000
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