JLL secures $69.5M financing for 3-building office portfolio
1800 Broadway, 1801 13th Street and 1301 Canyon Boulevard are 97.1% leased to a diverse tenancy
DENVER, March 18, 2020 – JLL Capital Markets announced today that it has arranged a $69.5 million refinancing for One Boulder Plaza, a three-building, Class A office portfolio totaling 234,000 square feet in Downtown Boulder, Colorado.
JLL worked on behalf of the borrower, The WW Reynolds Companies, to secure the five-year, non-recourse, permanent financing through a national bank.
One Boulder Plaza is located at 1800 Broadway, 1801 13th Street and 1301 Canyon Boulevard in Downtown Boulder. The three adjacent properties are positioned along Boulder’s main thoroughfares and are directly across from the Downtown Boulder RTD station providing tenants with connectivity throughout Downtown Boulder and the Denver Metro. Additionally, One Boulder Plaza is just one block from the historic Pearl Street Mall, one of America’s most famous pedestrian malls, and is close to numerous restaurants, shopping, entertainment, city parks and the University of Colorado campus. The three- and four-story properties feature two underground parking facilities for more than 300 vehicles and ground floor retail in two of the buildings. Overall, One Boulder Plaza is 97.1% leased to 24 tenants spanning the law, consulting, financial services and food and beverage industries.
The JLL Capital Markets team representing the borrower was led by Senior Director Leon McBroom and 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 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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About JLL
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 $18.0 billion, operations in over 80 countries and a global workforce of more than 93,000 as of December 31, 2019. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
About The W.W. Reynolds Companies
The W.W. Reynolds Companies opened its doors in 1966 as a real estate brokerage company exclusively focused on developing, leasing and managing its own portfolio of properties. Today, W.W. Reynolds owns, manages and / or leases more than 4.5 million square feet of commercial office, retail and industrial property in Boulder, northern Colorado, and along the Colorado Front Range.