Louisville, CO – Essex Financial Group (“Essex”) secured $7.9M in acquisition financing for the purchase of 1850 Dogwood, a 58,901 SF industrial warehouse/production facility located in Boulder County’s premier Colorado Tech Center (CTC). Essex worked on behalf of the buyer, Ivy Realty, to source the five-year, fixed rate loan for the acquisition.
1850 Dogwood is 100% leased to Alternative Foods, a wholly owned subsidiary of Savencia Fromage & Dairy, one of the world’s leading companies in the dairy industry. The infill manufacturing facility is used as a processing facility for plant-based foods and features 20’ clear heights, dock-high and drive-in doors, and substantial infrastructure for the tenant’s food production and processing lines. 1850 Dogwood is ideally situated between Denver and Boulder, allowing for easy access to the two largest economic hubs in Colorado. The Property is also located just minutes from US 36, the Northwest Parkway and US 287, offering excellent access across the metro region for distribution needs.
Essex secured the fixed-rate, non-recourse loan with a prominent national life insurance company at a competitive interest rate. The loan included a full-term, interest only component with prepayment flexibility to match the Buyer’s business plan.
Essex’s Capital Markets team was led by Paul Donahue, Cooper Williams, Nate Schneider and Andrea Mehlem.
About Essex Financial Group
Essex Financial Group is a commercial mortgage banking firm headquartered in Denver, Colorado, specializing in commercial real estate debt and equity placement. For over 30 years, Essex has helped its clients navigate the capital markets effectively and efficiently to identify the best capital source and structure to meet their needs. For further information, please visit essexfg.com
About Ivy Realty
Founded in 1996, Ivy
Realty is a Greenwich, CT-based real estate investment, development and
management company. Ivy has acquired
more than $2.8 billion in assets and currently has a portfolio exceeding six
million square feet of industrial, office and residential properties. Ivy
invests in value-added investments located in the Northeast U.S., Southeast
Florida and Colorado. For more information, visit www.ivy-realty.com.