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PARKER, CO-The CBRE Melody Denver office recently arranged a $4.75 million loan for Parker Valley Lot 3 in this fast-growing area along the Southeast corridor. Baxter Fain, associate, and Eric Tupler, senior director of CBRE Melody's Denver office secured the funding for this transaction. A securitized lender provided the financing on behalf of Parker Valley Center IV, LLC. Terms of the financing include a 10-year loan with two years of interest-only payments followed by a 30-year amortization at a fixed rate of 5.40%.

"Parker Valley Lot 3 is an absolute "Main and Main" location in Parker with a Super Wal-Mart and Home Depot to the immediate east and a Super Target scheduled to be completed in 2006 to the immediate west," Fain says. "The lender recognized this immediately, priced the deal very aggressively and won the business."

Parker Valley Lot 3 is a neighborhood retail center that was built in 2004 with a net rentable area of 25,235 sf. At the time of financing, Parker Valley was 100% leased to tenants that include Party America, Colorado Liquor, and Metro Carpet Flooring and future shadow-anchor Super Target. Parker is a booming suburb of Denver that experienced a substantial increase in population--from 15,409 in 1990 to 65,701 in 2004--within the five-mile ring surrounding the property. The population is expected to increase an additional 37.4% by 2009.