Barings, one of the world’s largest diversified real estate investment managers, has provided financing to support Berkeley Partners’ acquisition of a warehouse campus at 104th Commerce Park in Commerce City.
“Berkeley Partners has been very successfully focusing on the acquisition, repositioning, and development of similar-type assets in select markets across the U.S. and in the Denver metro area,” said Tom Cross, managing director for Barings. “This area benefits from its proximity and access to all of Denver via the northern Denver metro highway system, as well as the Denver International Airport. With new supply muted in the region, we believe these buildings are poised for strong new leasing activity at attractive rental rates.”
Trammell Crow and Clarion Partners built 104th Commerce Park, a 1.17MSF Class A industrial and logistics park. The property consists of two state-of-the-art warehouse and distribution properties ranging between 273,000 and 298,000 square feet. Each building can be demised for multi-tenant usage or single users. The buildings have clear heights of 32’ and 36’ feet and the site contains 130 dock doors.
The project offers a flexible and cost-competitive alternative to Central Denver and I-70 locations while being located a short drive from the I-25/I-70 interchange. The Park has premier highway access, I-76 visibility, yard/trailer parking and is surrounded by a strong labor force with population growth. Additionally, the divisibility of 104th Commerce Park allows unique opportunities to fit most any tenant over 45,000.
Scott Lewis and Christine Dierker of CBRE advised the sponsorship on the financing.
This transaction expands Barings’ 23.5+ billion* real estate debt platform, which leverages the team’s broad direct origination capabilities and deep credit expertise to invest in loans secured by institutional-quality commercial real estate.
As of September 30, 2024, Berkeley Partners owns and operates approximately 11.3 million square feet of light industrial real estate with $2.5 billion of assets under management across targeted growth and gateway markets within the United States.