JLL secures $31.2M refinancing for industrial portfolio

The properties are within the Eastpark 70 development near Denver

December 17, 2019

DENVER, December 17, 2019 – JLL announced today that it has arranged a $31.2 million refinancing for a portfolio of three Class A, newly constructed warehouse/distribution buildings that total 547,478 square feet within the Eastpark 70 development in Aurora near Denver, Colorado.

JLL worked on behalf of the borrower, Consolidated Investment Group (CIG), to place the 11-year, 3.18%, fixed-rate loan with an insurance company. The loan featured full-term, interest-only amortization; flexible prepayment; and the potential to upsize the loan during the loan term.

Developed by CIG, Eastpark 70 was delivered in phases through 2016 to 2019. The portfolio comprises buildings II (19700 East 23rd Avenue), III (19900 East 23rd Avenue) and IV (19522 East 22nd Avenue), which have a combined occupancy of 86.14% leased to seven tenants. The buildings feature 164 dock-high doors, clear heights ranging from 32 to 26 feet and low office buildout. Two buildings are cross dock with one – building IV – having a rear load configuration.

Eastpark 70 is in the SW DIA/Pena Boulevard Industrial submarket and approximately 13 miles from downtown Denver. Additionally, this infill location is approximately 10 miles southwest of Denver International Airport, and the portfolio has direct access to Interstates 70 and 225 and E-470, which provide connectivity to the region and beyond. 

The JLL Capital Markets Debt Placement team representing the borrower was led by Managing Director Josh Simon, who also led the refinancing of the 357,555-square-foot Eastpark 70 Building 1 that was also developed by CIG, in 2017.

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. Our vision is to reimagine the world of real estate, creating rewarding opportunities and amazing spaces where people can achieve their ambitions. In doing so, we will build a better tomorrow for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $16.3 billion, operations in over 80 countries and a global workforce of more than 93,000 as of September 30, 2019. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit

About Consolidated Investment Group

Consolidated Investment Group (CIG) is an entrepreneurial investment company that manages a diverse portfolio valued in excess of $1 billion. Since 2003, CIG has actively invested in private equity, capital markets, real estate and philanthropy. The company’s mission is to preserve and grow its shareholders’ capital for current and future generations and to support their philanthropic endeavors. It accomplishes this through innovative processes and a results-oriented team. CIG is committed to an environment founded on high ethical standards that puts its people first, fosters collaboration and inspires dedication.  CIG invests domestically and internationally through operating partners, direct investment and opportunistic funds. Learn more about CIG at