DALLAS (July 24, 2014) – CBRE Capital Markets secured financing for Centrum Healthcare Center, a Class A medical office facility located in Greenwood Village, Colorado, south of downtown Denver. CBRE’s Debt & Structured Finance Group worked on behalf of the borrower, an affiliate of Fleisher Smyth Brokaw, a Denver-based medical office owner and developer, to obtain a long term loan through Principal Real Estate Investors. The 27-year financing is fixed for the entire loan term at a sub-5% interest rate.
Centrum Healthcare Center has two, six-story medical office buildings totaling 181,311 square feet and also includes an attached parking garage. Built in 1981, the campus benefits from an infill site location near the intersection of Interstate 25 and Belleview Avenue in Greenwood Village, an affluent community in Denver that ranks as one of the top medical markets in the nation. The property is currently 95% leased to a strong tenant roster that is anchored by Centrum Surgery Center, an HCA-Health One multi-specialty surgical operation center.
Greg Greene and the CBRE Debt & Structured Finance team in Dallas sourced and secured the replacement financing on behalf of the borrower.
“The property benefits from exceptional accessibility to surrounding hospitals and medical centers in Denver, as well as strong tenancy, which includes HCA, the largest healthcare provider in Denver and the United States,” said Mr. Greene. “Principal was an ideal fit for the financing because of their knowledge of the market and ability to stretch the loan term. Both the lender and borrower did a great job working together to close the deal.”
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