Thank you for sharing!

Your article was successfully shared with the contacts you provided.

DENVER-NorthMarq Capital arranged $6.29 million in financing for the historic Hardware Block, a combined 3-building project located at 1501, 1515 and 1527 Wazee St. in Lower Downtown. NorthMarq’s regional office arranged $2.875 million in financing for a 24,000-sf US Forest Service Building in Pueblo, a city south of Colorado Springs.

The Hardware Block buildings, built between 1890 and 1895, were renovated in 2001 and 2002 into 22 residential condominium units, five commercial condominium units and three office condominium units. Principals of Hardware Block Office Building LLC are Charlie Woolley of the St. Charles Town Co. and Larry Nelson of 620 Corp Inc.

Financing of the US Forest Service Building was unique in that the loan amount was approximately 100% of value and was substantially more than development costs, says NorthMarq Capital executive vice president and senior managing director Steve Bye. Term of the loan is 15 years, matching the US Forest Service lease term. However, amortization is over 19.5 years.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.