Essex Financial Group closed loans totaling $150.5 million in proceeds in March, which represents our most active month since the start of the pandemic. March closings included a variety of property types (medical office, retail, and industrial) and loan structures (permanent, bridge, construction). Highlighted transactions include a bridge loan used to finance the acquisition and future leasing capital for an industrial property in Byhalia, Mississippi placed by a debt fund, the refinance of a medical office building downtown Seattle, Washington placed by a correspondent life company, and the refinance of a new retail center in Parker, Colorado also placed by a corr...

Essex is happy to announce that lender activity is picking up as we start 2021. The month of February was particularly active, as Essex Financial Group closed four transactions totaling $21.1 million. Three of the four properties were located in the Colorado Front Range and included both industrial and office properties. The fourth closing was for long-time client's acquisition of a grocery-anchored shopping center in Savannah, GA, which was a full-term interest only execution. The four loans were all placed with correspondent life insurance companies, and all were non-recourse to the borrowers. Lenders continue to be very active and aggressive in quot...

Essex is happy to announce a strong finish to a very difficult year. In the month of December 2020, Essex Financial Group closed five (5) transactions totaling $107 million. All five properties were located in the Denver-Boulder MSA and included both industrial and office properties. The closings featured insurance company and CMBS executions. One of the transactions was a non-recourse bridge loan from a life insurance company, a space where more and more insurance companies are trying to compete. We are encouraged by this activity in the capital markets and will continue being optimistic as we ring in the New Year. We would like to wish everyone a happy an...

Essex Financial Group closed four (4) transactions totaling $23 million in the final weeks of July. The loans financed a mix of asset types, including industrial, multifamily, and office. Since the initial shock of COVID, Essex has seen insurance companies adapt to the current environment, resulting in an uptick in lending activity in the last few months. A summary of the four transactions is as follows:Summit at CTC II - Essex arranged a $5,200,000 permanent loan on a newly constructed 41,000 square foot Class A industrial building in the Colorado Technology Center (CTC). The new loan refinanced the existing construction loan and was placed with a national life insura...