HFF arranges $44.1 million in acquisition financing for Cascades office building in Denver
DENVER, CO – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has arranged $44.1 million in financing for Cascades, a 348,760-square-foot, Class A office asset in Centennial, Colorado, located just southeast of Denver in the southeast suburban office market.
HFF worked on behalf of the buyer, America’s Capital Partners, to secure the 70 percent loan-to-value, seven-year, fixed-rate acquisition loan through a life company correspondent lender.
Cascades is situated on an 8.71-acre site at 6300 South Syracuse Way in the Fiddler’s Green neighborhood of Greenwood Village. This southeast Denver location places the property in close proximity to Interstate 25 and less than a 10-minute walk to the Arapahoe at Village Center light rail stop, which provides connectivity throughout Metro Denver. Cascades was most recently renovated in 2016 and is 97 percent leased to 24 tenants. Building amenities include a fitness center, deli, 3,000-square-foot conference center, western-facing balconies, outdoor patios with WiFi, covered parking and mountain views.
“Cascades marks our entry into the Denver office market where we intend to establish an operating hub for a multi-asset office building platform as we have done in Dallas, Atlanta, Charlotte and major Florida markets,” said Sergio Socolsky, CEO of America’s Capital Partners and partner in the America’s Capital Advisors Funds I & II.
The financing efforts for America’s Capital Partners were led by HFF associate director Leon McBroom.
Image Courtesy of HFF