Executive managing director Jody Thornton and senior director Todd Armstrong worked on behalf of New Plan Excel Realty Trust to secure the fixed-rate, 10-year, permanent financing through Bank of America CMBS Capital Markets, a conduit lender. Arapahoe Crossings is situated on approximately 65 acres at the northeast corner of Arapahoe Road and Parker Road in southeast Aurora.
The property has convenient access to Denver International Airport and other regional amenities, and is a short commute to several area business centers including the Denver Tech Center and Meridian Business Park.
This class A shopping center is 100% leased. Major tenants include King Soopers (subsidiary of Kroger), Kohl's, Borders Books, Old Navy, Ross, Marshall's, Office Max and Linens 'N Things plus a movie theater.
"This property is distinguished by its phenomenal access and visibility at the intersection of two major highways," says Armstrong. "The national tenant line-up, along with the strong sponsorship of New Plan Excel Realty Trust, made this a very attractive financing opportunity to the lending community."
New Plan Excel Realty Trust Inc. is one of the nation's largest real estate companies focusing on the ownership and management of community and neighborhood shopping centers.
The company operates as a self-administered and self-managed REIT, with a national portfolio of 387 properties and total assets of approximately $3.5 billion.
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