Essex Real Estate Capital Advisors has successfully sourced a $71 million loan for the refinance of Denali Logistics Park. The premier, Class A industrial asset, located in Aurora, was delivered in 2024 by developer and owner Hines.
Denali Logistics Park is strategically located at the front door of Denver International Airport (DEN) and offers unparalleled access to major transportation corridors. The property features three buildings totaling 759,620 square feet. The two front-park rear-load buildings and one cross-dock building each have different building depths, allowing for demisability to accommodate tenants ranging from 30,000 to 200,000 square feet. Additional unique aspects of the property include the secured trailer parking available to all tenants and the on-site amenity basketball court.
Essex ran a comprehensive marketing process amongst varying capital sources and, ultimately, sourced a non-recourse, interest-only bank loan with a very competitive interest rate. The 3-year floating rate loan was used to retire the construction debt in a cash-neutral transaction. The loan also included future funding to draw upon for leasing, securing the property’s long-term capitalization, allowing Hines to continue to execute its leasing plan and fully stabilize the asset.
The transaction was executed by the Essex team, Principal Blaire Butler and Associate Matt Perigard.
“The successful closing of this loan underscores the exceptional quality of the Denali Logistics Park asset and the long-term positive sentiment towards the Denver industrial market,” said Butler, principal for Essex.
