CBRE Arranges $19.5 Million for Industrial Distribution Center in Colorado

CBRE has negotiated $19.5 million in financing for Nearon Enterprises to acquire a 217,904-square-feet-industrial property in Colorado.

Shaun Moothart, Bruce Francis, Bob Ybarra, Doug Birrell, Nick Santangelo and Jim Korinek secured the loan as a part of CBRE's Capital Markets Debt and Structured Finance team. This acquisition financing has a nine-year term with four and a half years of interest only at a competitive fixed interest rate.

“We are happy to announce the successful financing of the Trade industrial distribution center in Colorado,” said Mr. Moothart, executive vice president at CBRE. “This loan structure provided the borrower with the best long-term fixed rate option, hedging against any future interest rate risk while also providing maximum prepayment flexibility to refinance or sell should interest rates decrease and value increase.”

The property is on 16.76 acres and is fully leased to five tenants split between two buildings. The facility features 24' to 28' clear height, energy-efficient 'cool roofs' and is solar-ready. Strategically located near the intersection of Interstate 25 and U.S. Highway 34, the Class A property is situated near various entertainment drivers and healthcare facilities, including the Boyd Lake State Park and the University of Colorado Health Medical Center of the Rockies.

“We are very appreciative of the amazing work the CBRE team has done for this loan, including the late-game rate reduction and additional proceeds. This team is the best and wonderful to work with,” said Nearon Enterprises Chief Financial Officer Blaine Emmons.