Colony Square II Center
1132-1156 W. Dillon Road Louisville CO
Property Pictures
Current Performance Details
- Acquisition DateJanuary, 2008
- Acquisition Price$2,275,000
- Add. Capital Costs$100,000
- Total Cost$2,375,000
- Total Project Size28,534 SF
- StatusActive
- Current Value$3,500,000
- Market Value PSF$122.66
- Purchased this nine year old center for 50% of the previous mortgage
- Closed within twenty days, “all cash”
- Within ten days of closing, increased occupancy from 43% to 75%
- Received a $1,500,000 bank loan 60 days post closing. Recourse, 4% interest only, 3-year note
- Long term hold because Conoco-Phillips is building a state of the art “alternative energy” campus 1 mile from the property, estimated to produce 7,000 new jobs
