Baxter Fain and Christina Grimme with Cushman & Wakefield’s office in Denver handled the $34,242,409 acquisition financing and worked on behalf of the buyer to provide 10-year, fixed-rate financing.
Alturas Capital Partners, based in Boise, Idaho, acquired the office portfolio located adjacent to I-25 in northern Colorado Springs. The asset boasts multiple anchor, credit tenants. NorthCreek is Alturas’ third office acquisition in Colorado Springs and reflects its growing investment footprint in the market.
Travis Barney, President of Alturas Capital Partners, said, “We are excited to grow our portfolio in Colorado Springs. NorthCreek is a great asset in an excellent market with a diverse portfolio of high-quality tenants. We look forward to building great relationships with these valued clients for years to come.”
"Obtaining 75% loan-to-value office financing in today’s debt market speaks volumes of the quality sponsorship and real estate. Alturas’ approach to ownership has proven to be successful in Colorado Springs and NorthCreek is a well-located, core, suburban asset," said Christina Grimme, Associate.