HFF Arranges $25.9M in Construction Financing for Loveland Office Building
Denver, CO – Holliday Fenoglio Fowler, L.P. (HFF) recently announced that it has arranged $25.991 million in construction financing for the development of Rangeview V, a 120,000-square-foot, single-tenant office building in Loveland, Colorado. McWhinney was the developer for the property.
HFF worked on behalf of the borrower, RVABTS, LLC, an affiliate of McWhinney, to secure the floating-rate loan through Vectra Bank (Zion’s Bancorp). The loan has a term of two years with one 12-month extension option.
Due for completion in June 2017, Rangeview V is a Class A office building located at Centerra, an award-winning, 3,000-acre master-planned community in Loveland. The building is fully leased to Agrium, Inc., a major distributor of crop inputs and services in North America, South America and Australia, and a leading global producer and marketer of agricultural nutrients. Agrium currently houses 800 employees in Rangeview buildings I-IV, and with the addition of Rangeview V, will consolidate a large portion of its U.S. and North American operations to this location with an expanded capacity of up to 1,200 employees.
Designed by the architectural firm RNL, Rangeview V will feature outdoor patios and balconies with lakefront and mountain views, 11’ ceiling heights, a landscaped plaza and parking for 600 vehicles. The four-story property will be situated along the shores of Houts Reservoir and Equalizer Lake with convenient access to Interstate 25. This location, approximately 55 miles north of Denver, is within close proximity to the Fort Collins/Loveland Airport and Colorado State University, one of the leading agricultural schools in the country and a large recruitment base for Agrium.
“The HFF team again provided added value to the debt placement process and Team Vectra provided a strong debt structure, meeting our expectations within our timeframe – we look forward to expanding our relationship with both HFF and Vectra going forward,” said Joshua Kane, VP of Finance for McWhinney.
The HFF debt placement team representing the borrower was led by senior managing director Eric Tupler and associate director Brock Yaffe.
Rendering courtesy of RNL