Joint Venture Acquires Compark Industrial Portfolio
The partnership purchased the 263,734-square-foot portfolio containing 8560 Upland Drive, 8490 Upland Drive, and 14800 Grasslands Drive from Hendricks Commercial Properties for $41 million.
“This acquisition reflects a major investment in the Colorado market and one that lays the framework for continued acquisitions by our group,” commented Jules Sherwood of Kenai Capital Advisors. “CWCapital and Kenai are happy to be a part of the exciting environment within Compark, and we are committed to expanding our investment footprint throughout the Denver market.”
Baxter Fain and Christina Grimme of Cushman & Wakefield Denver secured acquisition financing for the purchase of the portfolio.
“The quality Sponsorship and solid business plan assisted in obtaining multiple financing options for the Borrower. Lending fundamentals continue to be strong and Denver remains a top market to place money,” said Fain.
The Compark Business Campus Metropolitan District is located 22 miles south of downtown Denver in unincorporated Douglas County and the Town of Parker.