CASTLE ROCK, COLO. — Northmarq has secured $20 million in permanent-fixed financing for Castle Rock Industrial at The Meadows, an industrial distribution and warehouse facility located at 3563-3593 Timber Mill Parkway in Castle Rock. The borrower is Sound Capital. Arranged through one of Northmarq’s insurance company lending relationships, the financing provided a seven-term with 3.5 years of interest-only payments followed by a 30-year schedule with stepped down prepayment flexibility. The financing was part of a 1031 exchange for two nearly constructed industrial/warehouse buildings that are 100 percent occupied. Built in 2023, Castle Rock Industrial at The Meadows features two buildings on 13.6 acres totaling 157,870 square feet. The buildings feature 24-foot ceilings, 101 parking stalls, 30 docks, including 14 knockouts and 12 drive-ins for loading. The property is fully occupied under triple-net leases. Charles Cotsalas and Ernest DesRochers of Northmarq’s New York Area Debt + Equity team arranged the financing for the borrower.
