DENVER – Berkeley Partners has acquired a 19-property, 41-building industrial portfolio totaling 1.95 million square feet in Denver, Boulder and Colorado Springs, for $124.3 million.
The HFF team worked on behalf of Berkeley Partners, to place the 10-year, fixed-rate acquisition loan with Nuveen Real Estate.
Situated on a total of 126.31 acres, the portfolio comprises 14 industrial facilities in Denver, three in Colorado Springs and two in Boulder. The properties are situated in infill locations serving the Rocky Mountain region, were built between 1973 and 1996, and are 93 percent leased to a total of 178 tenants.
The HFF debt placement team was led by executive managing director Kevin MacKenzie, senior director Jeff Sause, director Leon McBroom and analyst Spencer Richley.
“While this was Berkeley Partners’ first acquisition in Colorado, their successful track record and expertise in owning and operating light industrial properties allowed us to get great terms from life companies,” said Sause.
Photo courtesy of HFF
