BWE Secures Loan for 11-Building N. Colorado Industrial Sale

BWE secured a $27.3 million loan to finance the acquisition of Prospect Innovation Campus, an 11-building, 226,461-square-foot light-industrial flex/R&D portfolio located in Fort Collins, Colorado. Ogilvie Partners was the seller. The buildings sold for $42 million.

BWE’s Peter Keepper and Summer McSwain originated the loan from a life insurance company. The fixed-rate loan features interest-only payments for most of the term and prepayment flexibility.

Located in a strong infill location on Prospect Road, one of the major east-west arterials on the north side of Fort Collins, Prospect Innovation Campus is one of the most established flex/office nodes along the corridor. The campus features a mix of roughly 30% office, 40% warehouse, and 30% research and development space and is more than 91% leased to a diverse range of tenured tenants. BWE added that Fort Collins’ industrial and office submarkets have low vacancy with little to no new construction.

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About Mike Boyd

Mike covers our Texas and Phoenix/Southwest regions. He is a veteran news reporter who spent 10 years in radio and television news, mostly in Tucson, Arizona. Following his career in the media, he spent ten years as a communications executive for a publicly traded development company. Mike is married with three boys and three Huskies.

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