Civica Cherry Creek in Denver lands $54.315M financing
JLL Capital Markets led financing efforts for the Class AA+ office property in the city’s top-performing Cherry Creek submarket
DENVER, Jan. 11, 2022 – JLL Capital Markets announced today that it has arranged $54.315 million in financing for Civica Cherry Creek, a 116,187-square-foot, Class AA+ office property in Denver, Colorado.
Working on behalf of the borrower, managed by MetLife Investment Management, JLL placed the five-year, floating-rate loan with a national bank. JLL also arranged the sale of the property to the borrower in September 2021.
Completed in 2018, Civica Cherry Creek’s building finishes and amenities set a new standard in the market for best-in-class. The state-of-the-art building offers touchless fixtures and efficient HVAC systems that are in line with today’s tenants health and wellness demands. In addition, the LEED Silver-certified building has floor-to-ceiling glass that automatically adjusts to the sun for shade or natural light depending on the time of day. Civica Cherry Creek boasts the largest floorplates of any new construction in Cherry Creek North and offers tenants an unmatched amenity package, including a Great Room with fireside lounge, private wine cellar, secure bike storage, rooftop terrace, building concierge and underground executive parking.
Civica Cherry Creek is located at 250 Fillmore St. in the heart of Denver’s Cherry Creek submarket. The property is surrounded by 16 blocks of upscale restaurants and retail shops and close to 2,000 luxury multi-housing units. The Cherry Creek submarket has outperformed the larger Denver market in terms of employment growth and boasts the highest annual wages in all of Colorado for it’s more than 3,900 office employees.
The JLL Capital Markets team representing the borrower was led by Senior Managing Director Eric Tupler and Managing Director Leon McBroom.
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.
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JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $16.6 billion in 2020, operations in over 80 countries and a global workforce of more than 95,000 as of September 30, 2021. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.