Landmark Corporate Center, a 210,557-square-foot, multi-tenant office building located at 5500 South Quebec Steet in the Denver Tech Center has received a $25,480,000 cash-out refinance.
Landmark Corporate Center is currently 100 percent leased. The property is walkable to nearby amenities such as The Landmark, a 170,000-square-foot mixed-use center and the Orchard Light Rail Station. The refinance was a 10-year loan with interest only for the first five years.
Executive Managing Director, Baxter Fain along with Christina Grimme of Cushman & Wakefield’s Equity, Debt & Structured Finance Group in Denver handled the debt financing.
“Getting through the finish line was an extraordinary ‘all hands’ effort in this credit market. Now that the loan is closed, this investment can deliver significantly above market returns to our investors and positions us to continue to deliver exceptional service in an exceptional location to our tenants,” commented Eric Davis, president and chief investment officer of Integrity Wealth Advisors.
“Amid the pandemic, lenders continue to be selective on credit profile, asset type, and leverage. The Landmark Corporate Center’s strong rent roll and credit tenancy were key in getting the deal across the finish line,” said Baxter Fain.
