Office Building Refinance - Englewood, CO
$8,000,000 loan arranged by PlattPointe Capital.
ENGLEWOOD, CO - PlattPointe Capital recently arranged a permanent loan for an office building that totals approximately 145,000 SF in Englewood, CO. The property is owned by a local value-add real estate developer and investor who had an expiring loan and needed to refinance. PlattPointe was able to arrange a five-year fixed rate term loan that included a year of interest-only payments which helps to offset the increasing interest rate environment. The subject property has a multi-tenant floorplate that is currently at 96.2% occupancy.
Englewood is a suburb of Denver, CO that boasts a thriving business community centralized along its historic “downtown” on South Broadway. The city also has plenty to offer for arts, music, and culture lovers with outdoor museums, performance venues, and numerous parks to explore.
PlattPointe was able to secure a lender with attractive terms in a timely manner to take out the expiring mortgage.
• $8MM loan amount
• 5-year fixed term
• 30-year amortization
• 6.5% fixed rate
• No pre-payment penalty
• First year interest-only
Present Market Conditions
Since the U.S. Federal Reserve began aggressively raising interest rates in the second quarter of 2022, real estate investors, owners, and developers are facing much more costly financing options for their properties and developments. Higher mortgage payments, lower valuations, smaller loan proceeds offered on a refinance, and the requirement of a significant depository relationship are just a few of the challenges facing borrowers today. PlattPointe Capital has a variety of financing strategies we can offer if you find yourself in a difficult position with a property you need to refinance.
PlattPointe Capital LLC is a boutique commercial real estate capital advisory firm that helps developers and investors navigate the capital markets by arranging optimal alternative debt and equity options for a client’s project. Our vision is to engineer the most efficient capital stack based on the constraints of a given project and sponsor’s needs.
More information can be found at www.plattpointe.com.
For any inquiries nationwide, please contact:
Jason Aubrey | 303.598.3876 | firstname.lastname@example.org
Creighton Bildstein | 303.589.4258 | email@example.com
Matthew Biegner | 720.470.7706 | firstname.lastname@example.org
TRANSACTION BY THE NUMBERS
Fixed Interest Rate