Development

First National Denver Provides Snapshot of Recent Commercial Real Estate Deals

Denver, CO –  First National Denver’s commercial real estate division has recently extended loans to support commercial development in Denver-metro. The highly specialized team of bankers applies deep geographical and commercial real estate expertise to build strong relationships and help local developers build business and advance the community.

“We are honored to work closely with leading commercial developers here in Colorado,” said Jonathan Smith, Executive Vice President at First National Denver. “Helping our clients secure the loan facilities they need to be successful is paramount to our commercial real estate team’s success and integration. We are proud to play a key role in spurring economic development throughout Colorado.”

Recent 2016 commercial real estate lending highlights:

– An interim refinance and capital improvement loan of $15,400,000 was extended to EverWest Real Estate Partnersand WHI Real Estate Partners to support an 83,000+ square foot adaptive reuse conversion of an existing industrial building into creative office space. The deal was led by Dave Lederhos, Vice President and Drew Lacey, Assistant Vice President.

– $49,000,000 construction loan to PAULS Corpfor the development of LAUREL Cherry Creek, a 71-unit luxury condominium development in Cherry Creek North. The deal was led by Dave Lederhos.

– A $2,975,000 construction loan to Etkin Johnson Real Estate Partnersto support 100% preleased 18,000 square foot office development in the Colorado Technology Center. The deal was led by Dave Lederhos.

– $6,500,000 revolving line of credit extended to Bow River Capital Real Estate Fund.  The deal was led by Dave Lederhos and Drew Lacey.

– $7,100,000 interim acquisition and capital improvement financing extended to REI Industrial, LLC, a Bow River Capital Real Estate Fund related entity, for the acquisition of an existing 85,000+/- square foot industrial facility. The deal was led by Dave Lederhosand Drew Lacey.

– Acquisition/ lease-up real estate term loan for an existing 48,000 square foot retail shopping center called Valley Plaza. The deal was led by Dave Lederhos and Drew Lacey.

First National Denver’s commercial real estate division’s focus is high-quality, experienced non-owner occupied real estate projects in Colorado. Commercial real estate customers ranging from homebuilders to REITs to nonprofits can rely on First National Denver’s team to provide a simplified lending process with expert tailored guidance and competitive rates.

Logo courtesy of First National Denver

 

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