Denver
Michael Cantwell, managing director of Johnson Capital’s Denveroffice, has arranged $23.6 million in financing for the owner of amulti-state portfolio of ground leases underneath four officebuildings. The ground leases are owned by affiliates of Aardex LLC,which developed the properties and subsequently sold leaseholdinterests to third-party investors. Each property is subject to a99-year ground lease. Three of the office buildings are leased tothe General Services Administration. One of those is located in NewMexico, and the other two are in California. The fourth officebuilding is located in Lakewood, CO, and is fully occupied by twocredit tenants, Gambro and CaridianBCT, which are both medicalequipment manufacturing companies. Goldman Sachs was the lender onthis conduit deal, which Johnson Capital reports is one of thefirst conduit deals completed since 2008. The 10-year note has a30- year amortization schedule and a loan to value ratio of 75%.The Colorado property is called Signature Center and it is locatedin the Denver West Office Park. It contains 183,500 square feet infive stories plus structured parking and was built in 2008 at theDenver West Parkway and I-70 intersection. Upon completion,it was only the second Double LEED Platinum building in the world.The New Mexico property is located at 555 Broadway in Albuquerqueand contains 33,328 square feet. It was completed in 2003 and islocated in the central business district. The California propertiesare located in downtown Fresno and Perris. The Fresno property isleased to the Federal Government and it houses courtrooms andjudicial offices in 126,347 square feet. It is located at 1950 GSt. The Perris property is located at 23123 Cajalco and it contains183,194 square feet. It houses the National Archives and RecordsAdministration. Commenting on the debt placement, Cantwell saysthat “What appeared to be a quick and easy transaction on thesurface turned into a very detailed and complex financing. GoldmanSachs did a thorough job and as the complexity grew, they continuedto find a way to make the deal.”
Orange County
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Natalie Dolce
Natalie Dolce, editor-in-chief of GlobeSt.com and GlobeSt. Real Estate Forum, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.
