DENVER — Pauls has received a $73 million loan to refinance a 14-building industrial portfolio in Aurora. The portfolio totals 1.9 million square feet of Class A distribution warehouse space.
Properties included in the portfolio feature clear heights between 22’ to 32’ and buildings sizes ranging from 72,000 square feet to 347,840 square feet. All buildings were constructed between 1996 and 2015.
The buildings are leased to 40 tenants, including Whole Foods Market, VWR International, Simmons Company and MSI International. They are situated on a total of 111.7 acres in the East I-70/Montbello industrial submarket in northeast Denver.
The two 10-year, fixed-rate, full-term, interest-only loans were placed with Nationwide Life Insurance Co. The funds were used to refinance an existing life company loan and a construction loan. HFF’s Kristian Lichtenfels and Eric Tupler arranged the loans.