The financing replaces construction loans put together by a consortium of banks headed by Bank of America, says Jim Cobb, director of the Denver office of L.J. Melody & Co., who put together the CIGNA deal with Doug Mueller of the Phoenix office L.J. Melody. Westcor is the Phoenix developer of FlatIron.
''I can't think of anything of this magnitude for a single asset,'' Cobb tells GlobeSt.com. ''The Park Meadows Mall was financed around four years ago for around $100 million.''
About two years ago, L.J. Melody financed the Wells Fargo Center in Downtown Denver, the biggest single deal in recent history in the market.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
