Fiddler's Business Improvement District
Overview
| Deal Type |
Debt Capital Markets Tax Incentive Finance |
|---|---|
| Size |
$49.9 Million General Obligation Refunding Bonds |
| Client & Transactional Partners |
Schnitzer West, LLC Fiddler's Business Improvement District |
| Our Role |
Sole Manager |
Summary
On June 1, 2022, KeyBanc Capital Markets (KBCM) closed $49.9 million of non-rated General Obligation Bonds issued by the Fiddler’s Business Improvement District. KBCM acted as the Sole Manager on the refunding bonds. The bonds will be used to re-finance outstanding bank loans and are secured by a general obligation of the Fiddler’s Business Improvement District, a quasi-municipal corporation located in Greenwood Village, Colorado.
The project, developed by Schnitzer West, is located southeast of downtown Denver adjacent to the I-25, and consists of three class-A office buildings totaling nearly 750,000 square feet of leasable area and an associated parking garage. Two of the buildings were completed in 2000 and the third, Palazzo Verdi, in 2008. Schnitzer West is one of the largest commercial office developers in the Seattle, Portland and Denver markets with over 12.1 million square feet of commercial office properties in these markets.
