DENVER-Locally based AmeriVest Properties Inc. completed its portfolio refinancing by borrowing $39 million from RBS Greenwich Capital.The loan is secured by the Parkway Centre II building in Plano, TX, the Southwest Gas building in Phoenix and the Centerra building in Denver.

The loan carries an interest rate fixed at 5.13% through Oct. 1.

“With the closing of this second portfolio refinancing and our recent assumption of a $24,750,000 seven-year 5.25% loan on the Financial Plaza building in Phoenix earlier this month, we have now reduced our floating rate debt as a percentage of total mortgage debt from 47% at the end of 2002 to 18% today,” says William Atkins, chairman and CEO of AmeriVest, the nation’s only office REIT that caters only to small and medium-sized office tenants.

“We believe that the reduction in exposure to interest rate risk continues to be appropriate, given our long-term holding strategy for our assets and the currently favorable interest rate environment,” he adds.

In connection with this refinancing, the company will expense approximately $30,000 in unamortized loan fees related to the previous mortgage loan on Parkway Centre II.

AmeriVest owns 28 office properties.

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
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


© 2023 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.



Join GlobeSt

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

  • Free unlimited access to'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 and

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2023 ALM Global, LLC. All Rights Reserved.