CALABASAS, Calif., Nov. 20 /PRNewswire/ -- Countrywide Commercial Real
Estate Finance announced the closing of a $183 million loan to Westcore
Properties, LLC, for the acquisition of Westcore - Mack Cali Colorado
Portfolio.
The Colorado portfolio, located in suburban Denver and Colorado
Springs, is 95% leased and consists of 19 office buildings -- a combined
1.4 million square feet of office and flex office property space and 1.6
acres of land used for parking.
Properties in the Colorado portfolio include:
* Interlocken 1-A and 1-B in Broomfield, which measure a combined
74,870 square feet. The property includes a 27-hole golf course,
tennis courts and jogging trails
* 400 Inverness Parkway, a Class A office building in Englewood that
measures 111,608 square feet, as well as the nearby 384 Inverness
Parkway which measures 51,523 square feet
* 8181 E. Tufts Ave. in Denver, a Class A office building that measures
185,254 square feet
"Countrywide Commercial took the time to understand our business plan
and the changing dynamics of the Denver office market," said Don Ankeny,
president, Westcore Properties. "Kyle Jeffers and the entire Countrywide
Commercial team have shown us time and time again that they can execute
complicated deals in a variety of regions for us."
Countrywide Commercial originated a floating rate loan with up to a
5-year term that allowed flexibility in selling the assets individually as
well as providing future funds for the improvement of the properties.
The financing was arranged by Eastdil Secured.
For more information on Countrywide Commercial, please visit
http://www.countrywidecommercial.com.
About Countrywide Commercial Real Estate Finance, Inc.
Countrywide Commercial Real Estate Finance, Inc., a provider of fixed-
and floating-rate financing for multi-family and commercial properties, is
a unit of Countrywide Capital Markets, Inc. (CCM), a wholly-owned
subsidiary of Countrywide Financial Corporation (NYSE: CFC). Other CCM
business units include Countrywide Securities Corporation, a registered
broker-dealer specializing in underwriting, buying and selling
mortgage-backed debt securities; Countrywide Servicing Exchange, an
advisory and brokerage firm specializing in the transfer of bulk loan
mortgage servicing rights portfolios between third parties; Countrywide
Asset Management, a full-service company that acquires, services and
manages distressed residential mortgage loan assets for rehabilitation and
eventual sale; and CCM International, Ltd., and Countrywide Capital Markets
Asia, Ltd., distributors of American securities in the UK and Japan,
respectively.
SOURCE Countrywide Commercial
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Related links:
http://www.countrywidecommercial.com
CONTACT:
Ed Essa or Kris Yamamoto, +1-800-796-8448,
pressroom@countrywide.com, both for Countrywide Commercial
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