$22.84M financing lined up for suburban Denver office asset
JLL Capital Markets led the financing efforts for 116 Inverness, a Class A office building in Englewood, Colorado
DENVER – May 20, 2021 – JLL Capital Markets announced today that it has arranged $22.84 million in financing for 116 Inverness, a suburban Class A office building totaling 216,999 square feet in Englewood, Colorado.
JLL worked on behalf of the borrower, Miller Global Properties, to secure a floating-rate acquisition bridge loan through a national debt fund.
116 Inverness is positioned on 7.08 acres within the Inverness Business Park in Denver’s Southeast office market. Situated just east of Interstate 25 and just north of E-470, the office building has convenient access to the entire Denver metro area. Additionally, 116 Inverness is surrounded by numerous retail, entertainment and hospitality amenities.
The 83%-leased property was originally built in the early 1980’s and was renovated over the years, most recently in 2019. Additional value-add creation exists through the renovation of shared amenity space and common areas, including a top floor roof deck and ground level amenity deck space.
JLL’s Capital Markets team representing the borrower was led by Senior Managing Director Eric Tupler.
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 advisory, debt placement, equity placement or a recapitalization. The firm has more than 3,700 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 91,000 as of March 31, 2021. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
About Miller Global Properties
Based in Denver, Miller Global sponsors real estate investment funds that are dedicated to office buildings and hotels of the highest quality throughout the United States. Since 1996, Miller Global has sponsored nine real estate funds and raised approximately $1.6 billion in equity. For more, please visit: millerglobal.com.