Denver, CO November 15, 2021 - Essex Financial Group (“Essex”) arranged a $15.3 million bridge loan for Dalfen Industrial (“Sponsor”) for the acquisition of 6383 Las Positas Road in Northern California. The 106,700 square foot industrial building is situated in the Tri-Valley region with access to both Oakland and San Jose. The Seller, Prism Logistics, has been the sole tenant in the building for more than 10 years. The parties negotiated a sale and short-term leaseback with the seller. Essex placed the $15.3M, bridge loan with a prominent national life insurance company at a competitive rate that was fixed throughout the term of the loan. The loan includes an initial...

Centennial, CO (August 2, 2021) - Essex Financial Group (“Essex”) recently secured a $17,155,000 non-recourse bridge loan with a national debt fund for the acquisition of 9110 East Nichols Avenue (“Highland Place II”) by Centre Point Properties. The 3-year, floating rate loan included future funding proceeds to modernize the building, spec out vacant space, and lease up the Property. The interest-only loan also allowed the borrower to use Property Assessed Clean Energy (PACE) financing to upgrade the building’s energy efficiency. Highland Place II is a 3-story, 141,000 square foot multi-tenant office building located in the heart of Southeast Denver’s suburban office...

Colorado Springs, CO (July 15, 2021) – Essex Financial Group (“Essex”) recently arranged a $6,000,000 non-recourse loan to refinance the existing debt 1610 Garden of the Gods Road.  Essex originated the loan with one of its life insurance company relationships, and the 15-year term came with a very competitive fixed interest rate.  The new loan was used to refinance a bank loan, return equity, and fix the debt constant for a long-term holding period.        1610 Garden of the Gods Road is a 104,000 square foot industrial building that was built in two (2) phases between 1979 and 2000.  The building features 18-2...

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...