DENVER (November 13, 2014) – Stephen P. Bye, senior managing director of NorthMarq Capital’s Denver based regional office, arranged an $8 million loan secured by four flex/research and development buildings located in the Boulder Tech Center. Constructed from 1996-2000, the buildings comprise a total 169,596 square feet and range in size from 17,000 to 61,000 square feet. The properties are located at 6400 and 6450 Dry Creek Parkway and 6325 and 6450 Monarch Parkway in Boulder County. The loan was non-recourse for a fixed-rate term of 10-years at an interest rate of 3.77% with an amortization period of 25 years. “This was a low leverage loan that represented about a 40% loan-value,” said Bye. “Each building was leased to a single tenant with remaining terms of approximately five years or less. We were able to negotiate the elimination of any funded reserves for future tenant improvements, leasing commissions or capital improvements. In addition, partial releases of the collateral are allowed for a possible sale of each building.”
Northmarq is a full-service capital markets resource for commercial real estate investors, offering seamless collaboration with top experts in debt, equity, investment sales, loan servicing, and fund management. The company combines industry-leading capabilities with a flexible structure, enabling its national team of experienced professionals to create innovative solutions for clients. Northmarq’s solid foundation and entrepreneurial approach have built an annual transaction volume of more than $39 billion and a loan servicing portfolio of more than $76 billion. Through the 2022 acquisition of Stan Johnson Company, Northmarq established itself as a provider of opportunities across all major asset classes. For more information, visit www.Northmarq.com.
