HFF Secures $16.3M Refinancing for Rangeview IV in Loveland
Denver, CO – Holliday Fenoglio Fowler, L.P. (HFF) recently announced that it has secured a $16.35 million refinancing for Rangeview IV, an 82,381-square-foot, single-tenant office building in Loveland, Colorado.
Working on behalf of the borrower, RVAA, LLC, an affiliate of McWhinney, HFF placed the 15-year, fixed-rate loan with Vectra Bank (Zion’s Bancorp). Earlier in the year, HFF worked on behalf of an affiliate of McWhinney to arrange $25.991 million in construction financing through Vectra Bank for the development of the adjacent property, Rangeview V.
Completed in 2010, Rangeview IV is a Class A office building located in Centerra, an award-winning, 3,000-acre master-planned community situated 55 miles north of Denver 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. This location serves as the national headquarters for Agrium’s U.S. retail operations and operates as Crop Production Services (CPS). Rangeview IV has easy access to Interstate 25 and 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 debt placement team representing the borrower was led by senior managing director Eric Tupler and associate director Brock Yaffe.
“The financing provided by Vectra was well-structured as a competitive market interest rate, fixed via a SWAP for the full term of the loan, which is commensurate with the term of the lease, and will enable us to optimize long-term recurring cash flow at a very attractive cost of capital,” said Joshua Kane, Vice President of Finance for McWhinney.
Image courtesy of McWhinney