Denver-Area Office Towers Land Refis

Located south of downtown Denver, the two assets add up to more than 200,000 square feet. Situs Enterprises bought the properties in 1995 and 1997.
Wells Tower

Chase Tower and Wells Tower, two 10-story office buildings in Englewood, Colo., have received roughly $18 million in refinancing loans with help from HFF. The company secured long-term, fixed-rate loans through Bellco Credit Union on behalf of the borrower, Situs Enterprises.

Located at 333 W. Hampden Ave., Chase Tower totals more than 125,000 square feet. The office property was built in 1970 and completely renovated in 2005. Amenities include a fitness center, Wi-Fi and a total of 562 parking spaces. Chase Tower also includes 13,000 square feet of ground-floor retail.

Wells Tower is located at 3333 S. Bannock St., on approximately 1.7 acres. The roughly 90,000-square-foot building includes controlled access and 308 parking spaces. Additionally, 13,000 square feet of retail space is available on the first floor.

The properties are situated south of downtown Denver, close to the Englewood light rail station, which provides access throughout the area. According to Yardi Matrix data, Situs Enterprises acquired Chase Tower in 1997 and Wells Tower in 1995.

HFF Director Leon McBroom was part of the debt placement team representing the borrower. In another recent deal, HFF arranged a four-year construction loan for Block 162, a 595,000-square-foot office tower in Denver.

Image via Yardi Matrix