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Denver Commercial Real Estate

Aurora Refi

Cherry Creek Place III has been refinanced. Owners of the Class-B,108k SF office building in Aurora have tapped the CMBS markets to refinance an existing bank loan. Aries Capitals Jeff Bucaro handled the refinancing, which secured a $6.7M first mortgage. Jeff says while the suburban Denver office market can still see vacancies in the 20%-range, Cherry Creek Place III remains more than 95% leased (it has the full parking lot to prove it),which helped Arthur Hill & Co get refi terms.

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