Ivy Realty, a Greenwich, CT-based real estate investment, development and management company, has acquired 1850 Dogwood, a 58,901-square-foot industrial warehouse/production facility located in Boulder County’s premier Colorado Tech Center (CTC), developed by Etkin Johnson.
Denver-based Essex Financial Group (“Essex”) secured $7.9 million in acquisition financing on behalf of Ivy Realty, to source the five-year, fixed-rate loan for the acquisition.
1850 Dogwood is 100 percent leased to Alternative Foods, a wholly-owned subsidiary of Savencia Fromage & Dairy, one of the world’s leading companies in the dairy industry. The infill manufacturing facility is used as a processing facility for plant-based foods and features 20’ clear heights, dock-high and drive-in doors, and substantial infrastructure for the tenant’s food production and processing lines. 1850 Dogwood is ideally situated between Denver and Boulder, allowing for easy access to the two largest economic hubs in Colorado.
The property is also located just minutes from US 36, the Northwest Parkway and US 287, offering excellent access across the metro region for distribution needs. Essex secured the fixed-rate, non-recourse loan with a prominent national life insurance company at a competitive interest rate. The loan included a full-term, interest-only component with prepayment flexibility to match the buyer’s business plan.
Essex’s Capital Markets team was led by Paul Donahue, Cooper Williams, Nate Schneider and Andrea Mehlem.
Ivy Realty was founded in 1996 to acquire commercial real estate in the northeastern United States and later expanded into southeastern Florida. Since its inception, it has acquired over $1.5 billion and 11 million square feet in commercial real estate assets.
