DENVER—Colliers International has arranged the $72 million refinancing of eight King Soopers-anchored retail centers totaling 895,000 square feet in the Denver, Aurora, and Boulder, metropolitan areas.

Colliers worked exclusively on behalf of the borrower, a joint venture between AmCap Inc. and a state pension plan, to secure the loans through Principal Real Estate Investors (PREI). Proceeds from the new 15-year, fixed-rate mortgages, which closed in early April, were used to retire existing securitized debt. The weighted average loan-to-value ratio was 60-65%.

Assets within the AmCap Denver Portfolio range in size between 42,000 and 236,000 square feet and in aggregate are 95% occupied. The centers are primarily grocery-anchored neighborhood and community centers characterized by core locations in high-income, densely populated metropolitan neighborhoods where the existing anchor tenant is a dominant grocer and is the leading grocer in the region. All eight properties are anchored by King Soopers, a division of The Kroger Company. In addition, this institutional-quality portfolio includes an impressive lineup of national and regional retail tenants including Ace Hardware, CHASE Bank, Dollar Tree, McDonald's, PETCO and Starbucks, among others.

Instant Insights /

Colliers Arranges $72M Refi of Shopping Center Portfolio

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