Denver-Area Office Portfolio Gets $70M Refi
- Mar 20, 2020
Commercial real estate firm The WW Reynolds Cos. has received $69.5 million in refinancing for One Boulder Plaza, a 234,000-square-foot, three-building office portfolio in downtown Boulder, Colo. JLL Capital Markets secured the five-year, non-recourse loan from a national bank. WW Reynolds took a $53 million loan from Wells Fargo for the Class A portfolio in 2016, according to Yardi Matrix.
Built in 2003, the adjacent three- and four-story buildings include 300 underground parking spaces. Two of them also have ground-floor retail. According to JLL, One Boulder Plaza is 97.1 percent leased and hosts 24 tenants from various industries.
Located at 1800 Broadway, 1801 13th St. and 1301 Canyon Blvd., the properties are surrounded by a variety of retail, dining and transportation options including the Pearl Street Mall, a pedestrian mall one block away.
The JLL Capital Markets team included Senior Director Leon McBroom and Senior Managing Director Eric Tupler. In February, McBroom was part of a team that secured an $81.8 million acquisition and development loan for an 11-building portfolio in Denver.