NewMark Merrill Mountain States Completes $62 Million Refinancing and Completion of the Village at the Peaks Shopping Center in Longmont, Colorado
Longmont, CO (September 26, 2017) – NewMark Merrill Mountain States, , announced today the closing of a $62,000,000 refinancing and completion of the Village at the Peaks, a 442,000 square foot shopping center in Longmont, Colorado in Boulder County.
After a five year development process involving a public/private partnership with the City of Longmont, Village at the Peaks opened at over 90% leased, representing almost $100 million in investment, generating over 500 new jobs. The center is leased to nearly 40 retailers, restaurants and services, including Whole Foods Market, Sam’s Club and Regal Cinemas, Wyatt’s Wet Goods, Gold’s Gym, Party City, Tuesday Morning, Chuck & Don’s Pet Food and Supplies, Parry’s Pizzeria & Bar, Bad Daddy’s Burger Bar, Culver’s, Fuzzy’s Taco Shop, Village Inn, Jersey Mike’s, Visionworks, Supercuts, T-Mobile, Verizon Wireless, Allure Nail and Spa, Ripple Effect, Longmont Modern Dentistry, Samuels Diamonds, Ozo Coffee Company, Sleep Number, Mathnasium, Brain Balance Achievement Centers, La Madeleine, Closet & Storage Concepts, Village Cleaners, Pho Huong Viet and Phenix Salon.
The property was refinanced from its original construction financing which was provided by Bank of the Ozarks. The new financing was provided by Allianz Real Estate of America. Joe Monteleone of Triad Capital Advisors facilitated the transaction with Juan Vives, Vice President and Michael Krawiec, Head of Debt Originators, heading the Allianz team. NewMark Merrill’s Sandy Sigal, President and Chief Executive Officer; Sandra Kist, Chief Financial Officer; and Allen Ginsborg, Managing Director & Principal, Mountain States oversaw the refinancing
”We are extremely proud of Village of the Peaks as a community center which we believe will provide extraordinary shopping, food, services and serve as a gathering place for a long-time to come for the Longmont and surrounding communities,” stated Sandy Sigal, President and Chief Executive Officer of NewMark Merrill Companies. The reaction of visitors, and the great sales from day one, have demonstrated once again that quality retail, quality merchants, and providing quality experiences still provide opportunities for shopping centers to succeed in what to some is a very challenging retail environment. The financing provided by Allianz provides us a long term debt platform that allows us to focus on the operation and programming that the community deserves”,
About NewMark Merrill Companies
NewMark Merrill Companies, Inc. owns or manages a portfolio of over 73 shopping centers. Since 1984 Chairman and Chief Executive Officer Sandy Sigal has led NewMark Merrill in a community leadership role at the company’s shopping centers in more than 75 cities throughout California, Colorado and Illinois. NewMark Merrill Mountain States is the Colorado division of the company which was founded and is overseen by Allen Ginsborg, Managing Director. For more information, visit www.newmarkmerrill.com for more details on Village at the Peaks go to http://www.villageatthepeaks.com/. For more information on NewMark Merrill Companies, contact Heather Danko, CMD at [email protected] or at 818.710.6100.