BOULDER – Holliday Fenoglio Fowler, L.P. (HFF) today announced the $48 million refinancing of a three-property office portfolio totaling 159,778 square feet along Walnut Street in downtown Boulder.
The HFF team worked on behalf of the borrower, The W.W. Reynolds Companies, to secure the 12-year, sub 4.0 percent, fixed-rate loan through MetLife Real Estate Investments.
The portfolio comprises two historic buildings, Colorado (1919 14th St.) and James (1916-1922 16th St), that underwent renovations in 2014 and 2015, and the Wencel Building (1301 Walnut St.), which was completed in 2016. Overall, the properties are 96 percent leased to a diverse tenant roster, including companies in the technology, consulting, financial services and food and beverage industries.
“Capital sources like Boulder. We saw tremendous lender interest in this financing request given the opportunity to add three downtown Boulder assets to a lenders portfolio. The property’s fundamentals and strength and success of WW Reynolds, a native Boulder developer and owner, drove interest even further,” said HFF Director Leon McBroom.
Tenants enjoy some of Boulder’s best views of the Flatirons and with a location along Walnut Street, the portfolio is just one block away from the historic Pearl Street Mall and boasts a Walk Score® of 97, being situated within walking distance of numerous restaurants, shopping, entertainment, city parks and the University of Colorado Campus.
The W.W. Reynolds Companies opened its doors in 1966 as a real estate brokerage company exclusively focused on developing, leasing and managing its own portfolio of properties.Today, W.W. Reynolds owns, manages and / or leases more than 4.5 million square feet of commercial office, retail and industrial property in Boulder, northern Colorado, and along the Colorado Front Range.
