GIP acquires Boulder industrial and office portfolio financed with a $27M loan

DENVER, May 20, 2022 - JLL Capital Markets announced today that it has arranged $27 million in acquisition financing for a light industrial and office portfolio comprising six value-add properties totaling 184,462 square feet in Boulder, Colorado.

JLL worked on behalf of the borrower, Good Investment Partners (GIP), to place the floating-rate acquisition loan with Argentic Investment Management LLC. Following their acquisition, GIP plans to enhance the properties within the portfolio and provide best-in-class space for small-to-mid size companies in the market.

Spanning a total of 13.1 acres, the portfolio is in the heart of Boulder County approximately 10 minutes from downtown. Boulder is experiencing tremendous growth with the recent entry of institutional investors attracted by an educated workforce and university that helps drive innovation and advancement. The city is currently experiencing the largest volume of venture funding growth in the nation, which is helping to fuel the area into becoming an innovation hub. The buildings are all within the Gunbarrel Industrial submarket, which continues to maintain low vacancy rates and high demand, and directly off the Diagonal Highway, which connects Boulder to the maturing city of Longmont.

The portfolio comprises a mix of six single- and multi-tenant buildings at 6797, 6837 and 6899 Winchester Circle (Gunbarrel Technical Center) and 4695, 4697 and 4699 Nautilus Court (Twin Lakes Business Park). Completed between 1982 and 2001, the 87.8-percent-leased portfolio offers its 23 diverse tenants cost alternative flex space that is proximate to the rapidly growing Boulder MSA. The portfolio features clear heights ranging from 13.6 to 20.5 feet slab to deck and high office finish, along with a total of 21 grade-level doors, 19 dock-high doors and ample parking.

The JLL Capital Markets team that represented the borrower included Directors Jason Carlos and William Haass. Good Investment Partners Managing Partner Ryan Good and Vice President and Partner Hannah Cope led the transaction on behalf of GIP.

"It is no secret that Boulder's strong historic fundamentals have been successful in attracting tech companies and a diverse talent pool, all while offering a high quality of life," Cope said. "Boulder's continued economic growth has put it at the fore front nationally and internationally as a leader in R&D, technology, biotech, manufacturing and other mission-critical operations. We're confident this portfolio will benefit from a disproportionate share of economic growth as demand continues to outstrip supply across the industrial sector."

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients - whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

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