(To read more on the debt and equity markets, click here.)

EDGEWATER, CO-CBRE/Melody’s Denver office recently provided $1.06 million in financing on behalf of a California family trust for its purchase of a 3,700-sf, freestanding retail building at 1705 Sheridan Blvd. The building is 100% occupied by a Washington Mutual branch, which has replaced a Payless Shoe store.

Edgewater’s eastern border is Sheridan Boulevard, a major north-south thoroughfare in the Denver area. Edgewater, located across from Sloan’s Lake in Denver, covers less than a mile and has a population of about 5,500.

Baxter Fain, vice president and Eric Tupler, senior director of CBRE/Melody’s Denver office, secured the loan from a securitized lender. The loan has a fixed-rate of 6.14%. “This building is in an excellent location that is near King Soopers grocery store in a well-populated area,” Fain says. “The borrower was in a 1031 exchange needing a tight closing timeframe and the lender was able to close the deal on time.”

Washington Mutual’s lease expires in 2012. “Even though this deal is a single-tenant deal with a seven-year lease term, we were able to secure a 10-year loan term with no ongoing escrows for the borrower,” Tupler says.

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?


© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.


GlobeSt Net Lease Spring 2024Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information


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 © 2024 ALM Global, LLC. All Rights Reserved.