CBRE Capital Markets’ Debt & Structured Finance has secured $20 million in financing for Signature Centre, a 185,743-square-foot, Class A office building located at 14143 Denver West Parkway in Lakewood, Colo.
The San Francisco-based CBRE team led by Mike Walker and Brad Zampa, along with Denver-based Jeff Halsey and Brady O’Donnell, arranged the five-year floating-rate financing on behalf of the borrower, Vista Investment Group. The financing secured consisted of a five-year full-term interest-only loan and a very competitive interest rate.
“We are thrilled with the outcome of the financing secured for Vista’s acquisition of Signature Centre. The building has performed extremely well despite the headwinds of COVID-19,” said Mike Walker, senior vice president, CBRE. “Multiple commercial banks competed for this opportunity, attracted to the combination of the location, building quality, tenant mix and importantly, the strength and track record of the sponsorship, Vista Investment Group.”
Completed in 2007, the five-story suburban office asset is 99 percent leased. The property benefits from a diversified multi-tenant base with a staggered rollover profile and is anchored by CoorsTek (private/NRA 31%). Additionally, nearly 60 percent of the property is leased to companies using the building as their global or North American headquarters locations. The property is encumbered by a 99-year ground lease with approximately 86.5 years remaining.
Signature Centre is strategically located in the West Denver market with direct access to five highways and has immediate connectivity to metro Denver as well as executive housing neighborhoods in the foothills of the Rocky Mountains.
“West Denver also boasts significant supply constraints and barriers to entry, solidifying the property’s position as the submarket’s finest asset for decades to come,” said Walker.
Signature Centre is the first completed and one of only seven LEED Platinum Core & Shell certified buildings in Colorado, offering state-of-the-art systems and infrastructure.
About Vista Investment Group, LLC
Vista Investment Group, LLC (VIG) is a privately held commercial real estate investment firm founded by Philip and Jonathan Barach. Headquartered in Los Angeles, the company is primarily focused on value-add strategies in multi-family and office in major West Coast markets
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE: CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2020 revenue). The company has more than 100,000 employees serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.
