CBRE Advises on Refinancing for Denver Metro MOB

CBRE helped secure permanent financing on the Metro North Professional Plaza, a 91,273-square-foot mixed-use, medical outpatient building (MOB) located at 11990 Grant Street in Northglenn, Colorado.

Zack Holderman and Jesse Greshin of the CBRE U.S. Healthcare Capital Markets’ Debt & Structured Finance team, alongside  Jeff Halsey and Brady O’Donnell of CBRE Debt & Structured Finance, acted as the exclusive advisors to the sponsor & existing owner.

Located 20 minutes north of downtown Denver, Metro North Professional Plaza’s strategic location benefits from proximity to various health systems, such as HCA HealthOne and CommonSpirit. Metro North is over 90% leased to approximately 20 medical outpatient and traditional office tenants, offering an array of services that include primary care, pain management and dermatology.

“This deal represents a prime example of strong liquidity available in the market for medical outpatient assets, whether stabilized, pre-stabilized or in the middle of a conversion,” said Greshin, CBRE’s Vice President of the U.S. Healthcare Capital Markets practice. “Lenders continue to remain bullish and aggressive on deals in strong markets with experienced Sponsors and proven business plans.”

The property offers excellent visibility and access from I-25 and 120th Avenue (129,000 VPD). The area offers numerous restaurants and retail amenities near the building. The ample parking ratio of 4;1,000 RSF and remarkable mountain views makes the Metro North Professional Plaza marketable to both local and national tenants.