Property Type Retail
Financing Type Refinancing
Date December 20, 2019
In addition to paying off the existing debt, Mr. Barkley worked on behalf of the borrower with the bank to provide additional improvement dollars that the owners will use to add approximately 15,000 square feet to the property.
Gantry (formerly Newmark Realty Capital, Inc.) has arranged financing in the amount of 7,000,000 for a 152,000-square-foot retail center located in Lakewood, Colorado that is undergoing a major renovation and expansion. The center enjoys excellent visibility and access along a major four-lane arterial approximately 10 miles southwest of downtown Denver. The center is anchored by a Big Lots, Ace Hardware and Chuze Fitness, a nationally owned and operated fitness club based in Southern California. Chuze, Big Lots and Ace Hardware all offer strong brand recognition to the center along with several other well know national tenants. New tenants include TJ’s Sports Bar and 5 Olives Restaurant. There is 6,000 dividable square feet of prime rental space available in a new pad configuration at the front of the center next to the new 5 Olives restaurant.
Patrick Barkley, Principal in Gantry’s Phoenix office worked with the borrower to arrange the refinance loan with one of Gantry’s banking relationships. In addition to paying off the existing debt, Mr. Barkley worked on behalf of the borrower with the bank to provide additional improvement dollars that the owners will use to add approximately 15,000 square feet to the property. Pricing and other terms were not disclosed.
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