HFF Adds $28.8M 17-Building Project to Denver Industrial Portfolio
Denver, CO – Holliday Fenoglio Fowler, L.P. (HFF) secured $28.825 million in acquisition financing for a 17-building industrial warehouse portfolio totaling 856,013 rentable square feet in Denver, Colorado.
HFF worked on behalf of the borrower, a large public retirement fund that is advised by Stockbridge Capital Group, to place the 12-year, fixed-rate loan with Hartford Investment Management Company, HIMCO.
The portfolio is located in the Montbello submarket along the Interstate-70 industrial corridor and is approximately 10 miles northeast of downtown Denver and 10 miles southwest of Denver International Airport. The properties are currently 99 percent leased to 39 international, national and regional tenants, including Honda, Birdon America, Empire Today, Aramark and Clopay. These tenants place great value on the tremendous access to Interstates 70, 225 and 76 that the portfolio affords.
The HFF debt placement team was led by managing director Matthew Schoenfeldt and associate director Kristian Lichtenfels.
“The 17 assets in this portfolio are highly-functional, ‘last-mile’ type facilities that are experiencing exceptional tenant demand within the Montbello submarket,” Schoenfeldt said. “The financing opportunity was pursued by multiple national, blue-chip life insurance companies. Hartford Investment Management Company delivered strong, flexible terms that were complemented by the seamless execution for which they are known. We were impressed and, more important, so was Stockbridge.”
Image courtesy of HFF