$21M in acquisition financing secured for light industrial property in Denver
JLL Capital Markets led the financing efforts for Valley Business Center in highly sought-after Denver submarket
DENVER, July 9, 2024 – JLL Capital Markets announced today that it arranged $21 million in acquisition financing for Valley Business Center, a 100% leased, 204,981-square-foot light industrial property in Denver, Colorado.
JLL worked on behalf of the borrower, Adler Real Estate Partners, in securing the fixed-rate insurance company loan.
Located at 700 W Mississippi Avenue, just 10 minutes from Downtown Denver and 35 minutes from Denver International Airport, Valley Business Center is a strategic last-mile location in the Denver South Central submarket, the most highly sought-after submarket in Metro Denver.
The five-building property has an average suite size of 10,249 square feet, attracting a diverse tenant pool by offering suite configurations and various loading capabilities – with dock high loading to almost every unit – plus ample power and 16’ – 20’ clear heights throughout the five buildings. Additionally, Valley Business Center has averaged 98% occupancy over the last 10 years, and today’s tenants are averaging 13.3-years of tenancy.
The JLL Capital Markets Debt Advisory team was led by Senior Managing Director Melissa Rose and Director Rob Bova.
"We are thrilled to have facilitated this financing for Valley Business Center, further solidifying its position as a premier destination for light industrial development in Denver," said Rose. "This transaction underscores the strength of the market and the confidence of investors in the long-term viability of this asset."
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.
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About JLL
For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500® company with annual revenue of $20.8 billion and operations in over 80 countries around the world, our more than 108,000 employees bring the power of a global platform combined with local expertise. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAYSM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
About Adler Real Estate Partners
Adler Real Estate Partners (“AREP”) is a leading, vertically integrated light industrial owner based in Miami, FL. Founded by Matthew Adler in 2012, the firm carries in its DNA the successful 60-year track record of acquiring and operating multi-tenant light-industrial assets of Matthew's legacy family business, the Adler Group. Since entering the fund management business, the current team has deployed and managed four funds while making 37 acquisitions, totaling 6.5M square and with a market value of over $1.2 billion.