{"id":1004664611,"date":"2023-05-24T03:43:28","date_gmt":"2023-05-24T11:43:28","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004664611"},"modified":"2023-05-24T05:18:45","modified_gmt":"2023-05-24T13:18:45","slug":"crestone-secures-66m-refi-for-denver-office-campus","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/crestone-secures-66m-refi-for-denver-office-campus\/","title":{"rendered":"Crestone Secures $66M Refi for Denver Office Campus"},"content":{"rendered":"
\"1400<\/a>

1400 Wewatta St. & 1401 Wynkoop St. Image courtesy of JLL<\/em><\/p><\/div>\n

Crestone Partners<\/strong> has secured a $66 million refinance for two interconnected Class A office buildings encompassing 279,188 square feet of space in Denver’s LoDo submarket.<\/p>\n

JLL Capital Markets<\/strong> made arrangements on behalf of the borrower. Allianz Global Investors<\/strong> originated the fixed-rate, five-year loan, Denver County public records show.<\/p>\n

The LEED Gold-certified property is currently 95 percent occupied by 13 tenants, including Heritage Title Company, UMB Bank, Gallagher Industries and others, CommercialEdge data shows. The property has outperformed its competitors in the LoDo area for average rents, occupancy and the quality of the tenant credit, noted Crestone Partners\u2019 Principal Bob Flynn, in prepared remarks.<\/p>\n

\n

READ ALSO<\/strong>: CRE Lending Sees Significant Drop: CBRE<\/a><\/p>\n

\n

Located at 1400 Wewatta St. and at 1401 Wynkoop St., the two-building property features four passenger elevators, 27,000-square-foot floorplates, 25,188 square feet of retail space and a total of 467 parking spots. The nine and 10-story buildings are connected through a third-floor outdoor common-area terrace, as well as through a sky bridge, located on the fourth floor. Other tenant amenities include a fitness center and private terraces.<\/p>\n

Situated on an approximately 4-acre lot, the asset is close to Interstate 25 and to multiple bus and train stations, including Union Station, 4 miles from the city\u2019s Cherry Creek neighborhood, 15 miles from Aurora, Colo., and within 20 miles of Denver International Airport.<\/p>\n

Recent mixed-use projects<\/h2>\n

Flynn along with Vice President of Property and Construction Services Heidi McKernan, Principals Garth Tait and Dave Meares represented Crestone Partners in-house, with the assistance of the JLL Capital Markets team of Senior Managing Director Eric Tupler and Director Kevin Barron. JLL’s Tupler also assisted Continuum Partners in April, in securing a $23 million refinancing for a mixed-use development<\/a> in Denver. The loan, originated through HTLF, will be used for a 60,000-square-foot component of A Block, a Class A, $120 million mixed-use development comprising hotel, office and retail space.<\/p>\n

In November 2022, Broe Real Estate Group announced plans to develop 250 Clayton, a mixed-use project<\/a> in Denver’s Cherry Creek Hill district. With construction expected to start in late 2023, the project consists of 175,000 square feet of office and retail space.<\/p>\n","protected":false},"excerpt":{"rendered":"

These Class A properties are located in the city\u2019s LoDo submarket.<\/p>\n","protected":false},"author":2991,"featured_media":1004664622,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1587,21825,21742,21747,15],"tags":[38626,44006],"class_list":["post-1004664611","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-denver","category-finance","category-latest","category-office","category-west","tag-crestone-partners","tag-jll-capital-markets"],"acf":[],"yoast_head":"\nCrestone Secures $66M Refi for Denver Office Campus - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"Crestone Partners secured a $66 million refinance loan for a Class A office asset encompassing 279,188 square feet of space in Denver.\" \/>\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\/crestone-secures-66m-refi-for-denver-office-campus\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Crestone Secures $66M Refi for Denver Office Campus\" \/>\n<meta property=\"og:description\" content=\"Crestone Partners secured a $66 million refinance loan for a Class A office asset encompassing 279,188 square feet of space in Denver.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/crestone-secures-66m-refi-for-denver-office-campus\/\" \/>\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=\"2023-05-24T11:43:28+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-05-24T13:18:45+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/05\/1400-wewatta-1401-wynkoop-teaser-e1684920350663.png\" \/>\n\t<meta property=\"og:image:width\" content=\"794\" \/>\n\t<meta property=\"og:image:height\" content=\"596\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Simona Tudose\" \/>\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\/crestone-secures-66m-refi-for-denver-office-campus\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/crestone-secures-66m-refi-for-denver-office-campus\/\",\"name\":\"Crestone Secures $66M Refi for Denver Office Campus - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/crestone-secures-66m-refi-for-denver-office-campus\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/crestone-secures-66m-refi-for-denver-office-campus\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/05\/1400-wewatta-1401-wynkoop-teaser-e1684920350663.png\",\"datePublished\":\"2023-05-24T11:43:28+00:00\",\"dateModified\":\"2023-05-24T13:18:45+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/4659e2337f06b61cefc6b0b897d183a4\"},\"description\":\"Crestone Partners secured a $66 million refinance loan for a Class A office asset encompassing 279,188 square feet of space in Denver.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/crestone-secures-66m-refi-for-denver-office-campus\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/crestone-secures-66m-refi-for-denver-office-campus\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/crestone-secures-66m-refi-for-denver-office-campus\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/05\/1400-wewatta-1401-wynkoop-teaser-e1684920350663.png\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/05\/1400-wewatta-1401-wynkoop-teaser-e1684920350663.png\",\"width\":794,\"height\":596,\"caption\":\"1400 Wewatta St. & 1401 Wynkoop St. Image courtesy of JLL\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/crestone-secures-66m-refi-for-denver-office-campus\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.commercialsearch.com\/news\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Crestone Secures $66M Refi for Denver Office Campus\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/\",\"name\":\"Commercial Property Executive\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/4659e2337f06b61cefc6b0b897d183a4\",\"name\":\"Simona Tudose\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/02\/SimonaTudose_AuthorPhoto.jpg?w=79\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/02\/SimonaTudose_AuthorPhoto.jpg?w=79\",\"caption\":\"Simona Tudose\"},\"description\":\"Simona Tudose is an Associate Editor with Commercial Property Executive and Multi-Housing News. She joined the CPE-MHN team in July 2022 and writes news about industrial, office and manufactured housing sectors. You can reach out to her at simona.tudose@cpe-mhn.com.\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/author\/simona-tudose\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Crestone Secures $66M Refi for Denver Office Campus - Commercial Property Executive","description":"Crestone Partners secured a $66 million refinance loan for a Class A office asset encompassing 279,188 square feet of space in Denver.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.commercialsearch.com\/news\/crestone-secures-66m-refi-for-denver-office-campus\/","og_locale":"en_US","og_type":"article","og_title":"Crestone Secures $66M Refi for Denver Office Campus","og_description":"Crestone Partners secured a $66 million refinance loan for a Class A office asset encompassing 279,188 square feet of space in Denver.","og_url":"https:\/\/www.commercialsearch.com\/news\/crestone-secures-66m-refi-for-denver-office-campus\/","og_site_name":"Commercial Property Executive","article_publisher":"https:\/\/www.facebook.com\/CPExecutive","article_published_time":"2023-05-24T11:43:28+00:00","article_modified_time":"2023-05-24T13:18:45+00:00","og_image":[{"width":794,"height":596,"url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/05\/1400-wewatta-1401-wynkoop-teaser-e1684920350663.png","type":"image\/png"}],"author":"Simona Tudose","twitter_card":"summary_large_image","twitter_creator":"@cpexecutive","twitter_site":"@cpexecutive","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.commercialsearch.com\/news\/crestone-secures-66m-refi-for-denver-office-campus\/","url":"https:\/\/www.commercialsearch.com\/news\/crestone-secures-66m-refi-for-denver-office-campus\/","name":"Crestone Secures $66M Refi for Denver Office Campus - Commercial Property Executive","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/crestone-secures-66m-refi-for-denver-office-campus\/#primaryimage"},"image":{"@id":"https:\/\/www.commercialsearch.com\/news\/crestone-secures-66m-refi-for-denver-office-campus\/#primaryimage"},"thumbnailUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/05\/1400-wewatta-1401-wynkoop-teaser-e1684920350663.png","datePublished":"2023-05-24T11:43:28+00:00","dateModified":"2023-05-24T13:18:45+00:00","author":{"@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/4659e2337f06b61cefc6b0b897d183a4"},"description":"Crestone Partners secured a $66 million refinance loan for a Class A office asset encompassing 279,188 square feet of space in Denver.","breadcrumb":{"@id":"https:\/\/www.commercialsearch.com\/news\/crestone-secures-66m-refi-for-denver-office-campus\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.commercialsearch.com\/news\/crestone-secures-66m-refi-for-denver-office-campus\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/crestone-secures-66m-refi-for-denver-office-campus\/#primaryimage","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/05\/1400-wewatta-1401-wynkoop-teaser-e1684920350663.png","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/05\/1400-wewatta-1401-wynkoop-teaser-e1684920350663.png","width":794,"height":596,"caption":"1400 Wewatta St. & 1401 Wynkoop St. Image courtesy of JLL"},{"@type":"BreadcrumbList","@id":"https:\/\/www.commercialsearch.com\/news\/crestone-secures-66m-refi-for-denver-office-campus\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.commercialsearch.com\/news\/"},{"@type":"ListItem","position":2,"name":"Crestone Secures $66M Refi for Denver Office Campus"}]},{"@type":"WebSite","@id":"https:\/\/www.commercialsearch.com\/news\/#website","url":"https:\/\/www.commercialsearch.com\/news\/","name":"Commercial Property Executive","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/4659e2337f06b61cefc6b0b897d183a4","name":"Simona Tudose","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/02\/SimonaTudose_AuthorPhoto.jpg?w=79","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/02\/SimonaTudose_AuthorPhoto.jpg?w=79","caption":"Simona Tudose"},"description":"Simona Tudose is an Associate Editor with Commercial Property Executive and Multi-Housing News. She joined the CPE-MHN team in July 2022 and writes news about industrial, office and manufactured housing sectors. You can reach out to her at simona.tudose@cpe-mhn.com.","url":"https:\/\/www.commercialsearch.com\/news\/author\/simona-tudose\/"}]}},"jetpack_featured_media_url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/05\/1400-wewatta-1401-wynkoop-teaser-e1684920350663.png","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004664611","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/users\/2991"}],"replies":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/comments?post=1004664611"}],"version-history":[{"count":10,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004664611\/revisions"}],"predecessor-version":[{"id":1004664740,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004664611\/revisions\/1004664740"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media\/1004664622"}],"wp:attachment":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media?parent=1004664611"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/categories?post=1004664611"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/tags?post=1004664611"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}