Berkeley Partners borrows $124m in acquisition financing for industrial portfolio in Colorado
Berkeley Partners has borrowed $124.3 million in acquisition financing of a 19-property, 41-building industrial portfolio totaling 1.95 million square feet in Denver, Boulder and Colorado Springs, Colo.
HFF worked on behalf of the borrower to place the 10-year, fixed-rate acquisition loan with Nuveen Real Estate.
Situated on a total of 126.31 acres, the portfolio comprises 14 industrial facilities in Denver, three in Colorado Springs and two in Boulder. The properties are situated in infill locations serving the Rocky Mountain region. The properties were built between 1973 and 1996 and are 93 percent leased to a total of 178 tenants.