Koch Real Estate Investments Secures Loan On 210 University In Denver
200 University BLVD # 210, Denver, C...
Building Size
—
Asset Type
Mixed-use
Closing
Nov 22, 2023
AI
210 University is a mixed-use office and retail property located at 200 University Blvd in Denver. The property, totaling 140,832 square feet, was acquired by a joint venture led by Corum Real Estate Group and Koch Real Estate Investments. Current tenants include Baird, US Bank, Cherry Creek Imaging, Western Veterinary Partners, Little Ollie’s, and Paradise Cleaners. Additionally, the asset features one of the largest parking garages in Cherry Creek North, with 89.4% occupancy at the time of sale.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: Not disclosed
- Address: 200 University Blvd #210, Denver, CO
- Market: Denver
William Haass from JLL represented Koch Real Estate Investments as the borrower’s representative in the acquisition. The undisclosed seller was represented by Peter Merrion, Mark Katz, and Hilary Barnett of JLL Capital Markets’ investment sales and advisory team. Furthermore, Kristian Lichtenfels, William Haass, and Leon McBroom of JLL Capital Markets’ debt advisory team facilitated a five-year, interest-only, fixed-rate loan with a national balance-sheet lender for the buyer.
Players
Denver Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93