Schnitzer West’s Office Portfolio in Denver Area Secures $196M in Financing
Developer Schnitzer West has landed $196 million in financing for its Fiddler’s Green Portfolio, a Class A office portfolio in the Denver, Colo., area, Commercial Observer can first report. The loan was done with a debt fund.
Cushman & Wakefield (CWK)’s Denver equity, debt and structured finance group arranged the debt financing with a team led by Baxter Fain, Rob Cronenberg and Sarah Dinning.
Schnitzer West purchased Fiddler’s Green Portfolio in December 2021, per BusinessDen. It consists of Palazzo Verdi (6363 South Fiddler’s Green Circle), Fiddler’s Green I (6399 South Fiddler’s Green Circle) and Fiddler’s Green II (6501 South Fiddler’s Green Circle). The portfolio totals 748,445 square feet and is located within Fiddler’s Green Center, an office park in Greenwood Village, Colo., a suburb of Denver, according to a release.
“We started the financing process at the beginning of 2022 and were fortunate to work with a premier lending partner in combination with a repeat first-class client in Schnitzer West,” Fain said in a statement. “As a result, we were able to successfully complete a complex transaction. Fiddler’s Green Portfolio is truly iconic real estate in this area, and we are excited to watch Schnitzer West advance these buildings to the next level.”
Schnitzer West did not immediately respond to a request for comment.
Emily Fu can be reached at efu@commercialobserver.com.
