Denver Creative Office Project Receives $27M Refinancing

January 9, 2020 – JLL Capital Markets announced today that it has arranged a $27 million refinancing for TAXI III, a two-building, Class A creative office project totaling 91,775...
Taxi-III

January 9, 2020 – JLL Capital Markets announced today that it has arranged a $27 million refinancing for TAXI III, a two-building, Class A creative office project totaling 91,775 square feet in the RiNo neighborhood of Denver, Colorado.

JLL worked on behalf of the borrower, Zeppelin Development, to secure the 10-year, 3.85% fixed-rate loan through Bellco Credit Union.

The award-winning complex spans four acres within the larger nine-building TAXI campus that Zeppelin began developing on the former Yellow Cab depot and six acres of surrounding land. The development is located in the heart of RiNo Arts District, a former warehouse district and gritty artist enclave that is now a playground for Denver’s twenty- and thirty-somethings.

Conveniently located near Interstate 70 and 25, TAXI III comprises two office buildings Drive 1, completed in 2012, and Drive 2, completed in 2013. The multi-tenant, four-story properties offer 44 suites averaging 2,039 square feet each and are 86% leased overall.

JLL’s Capital Markets team representing the borrower was led by Senior Director Leon McBroom.

Bellco Credit Union’s team was led by Senior CRE Banking Officer Greg Lundstrom.

Categories
CommercialDealsDenverFinancingNationalOfficeWest

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