CBRE Secures $28 Million in Financing for the Arvada Marketplace in Colorado

CBRE has secured a $28 million loan for San Diego-based Gerrity Group’s  acquisition of Arvada Marketplace at 7370 West 52nd Avenue in Arvada, Colorado.

Mark McGovern, Brian Cruz, and Morgon Fraser with CBRE Capital Markets' Debt and Structured Finance team in San Diego, secured the acquisition financing for a 5-year term at a fixed rate.

"This is a strategic location for owning a regional shopping center in the Denver metro because of the traffic numbers and population growth," said McGovern, senior vice president at CBRE. "We leveraged our extensive network of financial institutions and private investors to tailor a financing package that aligns Gerrity’s goals."

The 284,637-sq.-ft.-regional center features a mix of national and local tenants, including Sam's Club, Michaels, Ulta Beauty and Five Below. At the time of acquisition, the property was at 969% leased occupancy. The property runs parallel to Interstate 70 and near the Wadsworth Blvd. interchange, establishing itself as one of the dominant retail nodes in the Denver metro.