JLL Capital Markets facilitates $99.3M refinancing for Denver area industrial portfolio 

DENVER, Oct. 16, 2025 –  JLL Capital Markets announced today it secured $99.3 million in refinancing for 25 North, a Class A industrial complex located in Thornton, Colorado, within the Denver metropolitan area.

JLL worked on behalf of Sagard Real Estate, a subsidiary of the global alternative asset management platform Sagard, to secure a loan through a debt fund.

The 936,775-square-foot industrial development consists of nine Class A buildings constructed between 2020 and 2024 on 66.34 acres. The property features clear heights ranging from 28 to 32 feet, 205 dock-high doors, 34 drive-in doors and 1,770 parking spaces. The development offers flexible configurations with suite sizes ranging from 14,262 to 135,000 square feet, accommodating both single and multi-tenant operations for warehouse, distribution and showroom uses.

The property is leased to a diverse roster of regional and national tenants. With premier access to I-25 and E-470—just two minutes from both major arteries—the development combines exceptional highway connectivity with state-of-the-art buildings. This strategic location provides visibility to more than 120,000 vehicles daily along the I-25 frontage while offering convenient access to key destinations: 25 minutes to downtown Denver, 20 minutes to Denver International Airport and 25 minutes to Boulder and the northwest Denver metro area. The combination of visibility, accessibility and modern facilities creates an ideal setting for companies looking to establish, consolidate or grow their operations.

The JLL Capital Markets team was led by Executive Managing Director Eric Tupler, Senior Managing Director John Rose and Vice President Emily Goldsberry.

"25 North represents a best-in-class industrial complex that distinguishes itself from competing properties through its flexible suite configurations, enhanced power capabilities and prime I-25 corridor location," said Tupler. "The North I-25 Industrial submarket continues to demonstrate market-leading fundamentals with strong leasing momentum benefiting from flight-to-quality dynamics and the premium positioning of newly delivered product. This refinancing reflects the institutional quality of both the asset and sponsorship while positioning the property for continued value creation through strategic lease-up activities."

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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For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500 company with annual revenue of $23.4 billion and operations in over 80 countries around the world, our more than 112,000 employees bring the power of a global platform combined with local expertise. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAY^SM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.

Sagard Real Estate is a vertically integrated real estate investment advisor and operator providing investment management services throughout the U.S., including portfolio management, acquisitions, debt origination, asset management, development, and property management for investors. With $5.2 billion in assets under management, Sagard Real Estate offers commercial real estate investment strategies through separate accounts and commingled funds. Founded in 1997, the firm is headquartered in Denver and maintains regional investment offices in New York City, Charlotte, Austin, Los Angeles, and San Francisco metro areas. Sagard Real Estate is a part of Sagard, a multi-strategy alternative asset management firm. For more information, visit www.sagard.com/realestate or follow us on LinkedIn.