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Big Ben Private Real Estate I LP Acquires Retail Asset In Denver For $56.7M With Wells Fargo Financing

Property Image
SOLD
$56,700,000

Colorado

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Retail207,611 SF
Sold 05/14/2025
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Property Image
SOLD

Big Ben Private Real Estate I LP Acquires Retail Asset In Denver For $56.7M With Wells Fargo Financing

7506 East 36th Avenue

See Similar Deals
Retail207,611 SF
Sold 05/14/2025
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Summary

COLORADO
Asset Type:Retail
Price Per Square Foot:$273
Total Square Footage:207,611 SF
Transaction Type:Sale

The property involved in the transaction is a retail asset located at 7506 East 36th Avenue in Denver, CO. The sale was finalized for a price of $56,700,000 with a total square footage of 207,611, resulting in a price per square foot of $273.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: $56,700,000
  • Buyer: Big Ben Private Real Estate I LP
  • Brokerage: Austin Snedden & Jason Schmidt - JLL
  • Lender: Wells Fargo
  • Previous Purchase Price: $42,200,000
  • Previous Purchase Year: 2019
  • Financing Amount: $38,900,000

JLL acted as the brokerage firm representing the transaction, facilitating the sale from ALTO, who acquired the property in 2019 for a lesser amount. The financing was secured through Wells Fargo, highlighting the financial structure supporting the acquisition by Big Ben Private Real Estate I LP.

Players

Jason Schmidt
11 deals$181.8M volume
BROKER

Austin Snedden
JLL
5 deals$91.7M volume(303) 515-8040
BROKER

Wells Fargo
LENDER

Details

SOLD
IMAGE: 05/14/2025 ADDRESS: 7506 East 36th Avenue MARKET: Denver. CO ASSET TYPE: Retail BUYER: Big Ben Private Real Estate I LP BROKERS: Austin Snedden & Jason Schmidt - JLL LENDER: Wells Fargo SALE PRICE: $56,700,000 SF: 207,611 ~ PPSF: $273 NOTE: ALTO sold Quebec Square in East Denver for $56.7M to Big Ben Private Real Estate I LP, with $38.9M in financing from Wells Fargo. JLL brokered the deal; ALTO bought the asset in 2019 for $42.2M.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$3,024,000.00

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$201,443.12
Cash-on-Cash Return-1.27%
Monthly Debt Service$268,786.93
Annual Debt Service$3,225,443.12