DENVER-GlobeSt.com exclusively learns that Wewatta and Wynkoop PT LLC, a GE Asset Management and Crestone Partners managed entity, has secured a permanent loan through a national life insurance company correspondent lender. The $74-million loan goes toward refinancing 1400 Wewatta and 1401 Wynkoop, two class-A contiguous office buildings totaling approximately 300,000 square feet in downtown Denver.
HFF worked on behalf of the borrower. The HFF team representing the borrower was led by Eric Tupler, Josh Simon and Jake Young, all located in the HFF's Denver office.
1400 Wewatta and 1401 Wynkoop are situated on nearly two acres in Lower Downtown Denver located on Cherry Creek at Speer and Wewatta, the gateway to LoDo. 1400 Wewatta is a nine-story, 202,000-square-foot property with ground floor retail. 1401 Wynkoop is a 10-story, 98,000-square-foot office building with ground floor retail and residential condominiums on the top four floors (the condos are not part of the collateral).
The properties are connected via a sky bridge and share a 468-space parking garage. Overall, 1400 Wewatta and 1401 Wynkoop are leased to tenants including the headquarters of Chipotle Mexican Grill Inc., Kilpatrick, Townsend & Stockton LLC, Dorsey & Whitney LLP, Milliman and George K. Baum & Co.
When talking about the refi process with HFF, Bob Flynn, principal of Crestone Partners , notes that it was “well organized and allowed us to fully evaluate market options and ultimately achieve the best pricing and terms in the market.”
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Natalie Dolce
Natalie Dolce, editor-in-chief of GlobeSt.com and GlobeSt. Real Estate Forum, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.
