CASE STUDIES
1999 Broadway
Loan Amount: $67,000,000
Closed: 4th Quarter 2005
Location:
199 Broadway
Denver, Colorado
Client:
Broadreach Capital Partners and
Transwestern INvestments Co.
Property:
A 641,712 NRSF, 43-story, Class A office building situated in the financial district of downtown Denver, Colorado
Assignment:
Arrange a 5 year fixed rate loan to acquire and reposition the subject property
Challenges:
Office market with 15% vacancy rate
Property's occupancy 75% at close with significant near term rollover
Peripheral downtown location
Limited on site parking
Results:
$67,000,000 (75% LTC)
Rate: 5 year treasury note plus 160 bps
Term: 5 years
Amortization: None
Prepayment: 12 month lockout, then fixed prepayment penalty.
Liability: Non-recourse
