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Cushman & Wakefield's Denver Equity, Debt & Structured Finance Group Secures $34.2M Acquisition Loan for 325,200 SF NorthCreek Office Complex in Colorado Springs

2/17/2021
COLORADO SPRINGS, Colo., February 17, 2021 – Cushman & Wakefield today announced that the firm’s Denver Equity, Debt & Structured Finance Group has secured acquisition financing for the purchase of NorthCreek Office Complex, a three-building office portfolio totaling 325,208 square feet in Colorado Springs, Colorado.

Baxter Fain and Christina Grimme with Cushman & Wakefield’s office in Denver handled the $34,242,409 acquisition financing and worked on behalf of the buyer to provide 10-year, fixed-rate financing.

Alturas Capital Partners, based in Boise, Idaho, acquired the office portfolio located adjacent to I-25 in northern Colorado Springs. The asset boasts multiple anchor, credit tenants. NorthCreek is Alturas’ third office acquisition in Colorado Springs and reflects its growing investment footprint in the market.

Travis Barney, President of Alturas Capital Partners, said, “We are excited to grow our portfolio in Colorado Springs. NorthCreek is a great asset in an excellent market with a diverse portfolio of high-quality tenants. We look forward to building great relationships with these valued clients for years to come.”

"Obtaining 75% loan-to-value office financing in today’s debt market speaks volumes of the quality sponsorship and real estate. Alturas’ approach to ownership has proven to be successful in Colorado Springs and NorthCreek is a well-located, core, suburban asset," said Christina Grimme, Associate.

About Cushman & Wakefield
Cushman & Wakefield (NYSE: CWK) is a leading global commercial real estate services firm for property owners and occupiers with approximately 52,000 employees in nearly 400 offices and 60 countries. In 2023, the firm reported revenue of $9.5 billion across its core services of property, facilities and project management, leasing, capital markets, and valuation and other services. It also receives numerous industry and business accolades for its award-winning culture and commitment to Diversity, Equity and Inclusion (DEI), sustainability and more. For additional information, visit www.cushmanwakefield.com.

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Joshua Deale San Diego Communications Manager
Joshua Deale

Communications Manager • Costa Mesa

Mr. Deale leads strategic media relations and thought leadership efforts for the West Region markets, and oversees their online presence including managing article and social media efforts.

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