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Cushman & Wakefield's Denver Equity, Debt & Structured Finance Group Secures Acquisition Debt and JV Financing of $18 Million for Purchase of 48-Unit Apartment Asset in Boulder, Colorado

1/28/2021
DENVER, Colo., January 28, 2021 – Cushman & Wakefield announced that the firm’s Denver Equity, Debt & Structured Finance Group has arranged the acquisition debt and joint venture equity financing for Glenwood Village Apartments, a 48-unit apartment complex located at 2747 Glenwood Ct in Boulder, Colorado.

The purchase transaction closed with an equity investment of $11,000,000 and debt financing of $7,000,000 with a 30-month term of interest only payments, a fixed coupon of 3.25% and non-recourse.

Executive Managing Director, Baxter Fain, along with Christina Grimme and Sarah Dinning of Cushman & Wakefield in Denver handled the joint venture equity and debt financing.

“This was an outstanding execution given the volatility and uncertainty of the period. This is an irreplaceable asset in the heart of one of the nation's highest value markets that had not traded for 45-years. We are very excited about its potential and by our team's ability to continue to source, transact, and maximize the value of such unique opportunities," commented John Kirkland, Manager / Owner of Glenwood Village Apartments.

“We couldn’t be more pleased with our joint venture partners, our lender and our relationship with John. This is a great value add purchase for the team and it will be exciting to see it unfold in the coming months,” said Baxter Fain, Executive Managing Director of the firm’s Denver Equity, Debt & Structured Finance Group.

 

About Cushman & Wakefield
Cushman & Wakefield (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with approximately 50,000 employees in 400 offices and 60 countries. In 2020, the firm had revenue of $7.8 billion across core services of property, facilities and project management, leasing, capital markets, valuation and other services. To learn more, visit www.cushmanwakefield.com External Link or follow @CushWake External Link on Twitter.

 

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Joshua Deale

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