{"id":1004393777,"date":"2020-02-24T06:02:32","date_gmt":"2020-02-24T14:02:32","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004393777"},"modified":"2020-02-24T06:02:32","modified_gmt":"2020-02-24T14:02:32","slug":"denver-portfolio-buyer-lands-82m-financing","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/denver-portfolio-buyer-lands-82m-financing\/","title":{"rendered":"Denver Portfolio Buyer Lands $82M Financing"},"content":{"rendered":"<div id=\"attachment_1004393798\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/02\/3800-Steele-Street.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004393798\" data-attachment-id=\"1004393798\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/denver-portfolio-buyer-lands-82m-financing\/3800-steele-street\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/02\/3800-Steele-Street.jpg\" data-orig-size=\"800,620\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"3800 Steele Street\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;3800 Steele Street. &lt;i&gt;Image via Google Street View&lt;\/i&gt;&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/02\/3800-Steele-Street.jpg?w=800\" class=\"wp-image-1004393798 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/02\/3800-Steele-Street.jpg\" alt=\"\" width=\"300\" height=\"233\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/02\/3800-Steele-Street.jpg 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/02\/3800-Steele-Street.jpg?resize=300,233 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/02\/3800-Steele-Street.jpg?resize=768,595 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004393798\" class=\"wp-caption-text\">3800 Steele St. <i>Image via Google Street View<\/i><\/p><\/div>\n<p>A partnership between ScanlanKemperBard and Harbert Management Corp. has obtained an $81.8 million acquisition and development loan for an 11-building portfolio at 3800 Steele St. within an Opportunity Zone in Denver. Granite Point Mortgage Trust provided the three-year bridge financing, which carries a variable interest rate and two one-year extension options. JLL secured the loan on behalf of the buyer.<\/p>\n<p>A joint venture between Downtown Property Services and a private investor sold the buildings for $70.5 million, according to public records.&nbsp;The portfolio encompasses 452,014 square feet of industrial, flex and office space. The new owner plans to begin capital improvements with the loan proceeds. The structures, developed between 1940 and 1943, were last updated in 2000.<\/p>\n<p>3800 Steele Street is roughly 4 miles from downtown Denver and 1 mile from the junction between York Street and Interstate 70. The site is near the 39th Avenue Greenway project, a $300 million public development set to add 12 acres of green space, including a new walking and biking trail, between Steele and Franklin streets.<\/p>\n<p>The JLL Capital Markets team included Senior Managing Director Tom Wilson, Senior Director Leon McBroom and Analyst Christopher DuCharm. In December, McBroom <a href=\"https:\/\/www.commercialsearch.com\/news\/crescent-real-estate-sells-denver-office-center-for-65m\/\">secured $51 million in financing<\/a> for the buyer of a nearly 260,000-square-foot office property in the Denver suburb of Greenwood Village, Colo.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>ScanlanKemperBard and Harbert Management acquired the 11 industrial, flex and office buildings in one of the city&#8217;s Opportunity Zones for more than $70 million.<\/p>\n","protected":false},"author":867,"featured_media":1004393798,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,1587,21825,21748,21783,21742,21747,15],"tags":[36351,44834,34016,32796,43688,35381],"class_list":["post-1004393777","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-denver","category-finance","category-industrial","category-investment","category-latest","category-office","category-west","tag-capital-improvement","tag-granite-point-mortgage-trust-inc","tag-harbert-management-corporation","tag-jll","tag-opportunity-zones","tag-scanlankemperbard"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Denver Portfolio Buyer Lands $82M Financing - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/denver-portfolio-buyer-lands-82m-financing\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Denver Portfolio Buyer Lands $82M Financing\" \/>\n<meta property=\"og:description\" content=\"ScanlanKemperBard and Harbert Management acquired the 11 industrial, flex and office buildings in one of the city&#039;s Opportunity Zones for more than $70 million.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/denver-portfolio-buyer-lands-82m-financing\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2020-02-24T14:02:32+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/02\/3800-Steele-Street.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"620\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Pavel Cazacu\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/denver-portfolio-buyer-lands-82m-financing\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/denver-portfolio-buyer-lands-82m-financing\/\",\"name\":\"Denver Portfolio Buyer Lands $82M Financing - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/denver-portfolio-buyer-lands-82m-financing\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/denver-portfolio-buyer-lands-82m-financing\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/02\/3800-Steele-Street.jpg\",\"datePublished\":\"2020-02-24T14:02:32+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/caac04e9f88552f7c898ba456c2498d8\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/denver-portfolio-buyer-lands-82m-financing\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/denver-portfolio-buyer-lands-82m-financing\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/denver-portfolio-buyer-lands-82m-financing\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/02\/3800-Steele-Street.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/02\/3800-Steele-Street.jpg\",\"width\":800,\"height\":620,\"caption\":\"3800 Steele Street. 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