PCCP Believes in Cherry Creek Location of Mixed-Use Asset
PCCP LLC recently provided a $56.5 million senior loan to an affiliate of Crescent Real Estate LLC for the acquisition of a 119,977-square-foot two-building class-A office and retail property. Located at 200-250 Columbine in Denver, the property is situated in the Cherry Creek submarket. It is currently 100 percent leased to primarily finance, insurance and real estate tenants.
“Crescent Real Estate is an experienced Fort Worth-based real estate company that manages over 5 million square feet of office product and is a repeat borrower with PCCP,” said Matt Cochran, a vice president with PCCP. “This fully occupied asset is one of Denver’s newest class-A properties and we believe it is in an ideal location in an established submarket that attracts both office and retail users.”
Both buildings were constructed in 2015 at total of 89,195 square feet of office and 30,782 square feet of retail. 200 Columbine is eight stories and contains all of the office space along with 9,856 square feet of restaurant retail. 250 Columbine is an adjacent seven-story property and has the remaining 20,926 square feet of ground-floor retail. It also includes a 71 residential condominium units which were not part of the acquisition.
Lisa Brown has decades of experience in corporate communications and marketing management with organizations including Coldwell Banker Residential, Grubb & Ellis, Marcus & Millichap, NAIOP, SIOR and ALM.
In those positions, she worked in conjunction with chief executive officers and chief marketing officers to create corporate messaging, cohesive branding standards, strategic marketing plans and thought pieces. Brown is a frequent speaker at industry events and an editing adjunct professor for an online course. She has a master’s degree in mass communications from San Jose State University.