Kenai Capital Advisors Facilitates Sale of 403 South Airport Boulevard in Aurora, Colorado
DENVER – Kenai Capital Advisors (“Kenai”) today announced the successful sale of 403 South Airport Boulevard, a 160,366-square-foot industrial and educational property situated on 15.15 acres in Aurora, Colorado. Originally constructed in 1981, the property was 100% leased at the time of sale to Mesa Systems and Global Village Academy of Aurora.
Kenai represented Global Village Academy of Aurora (“the Seller”), a prominent charter school organization, in this complex transaction. The property, located within a condominium association, contained the Seller’s operating charter school on one side of the building and a separate tenant (Mesa Systems) operating under a non-conforming industrial use on the other. During the transaction, the Seller and Buyer negotiated a sale-leaseback agreement, while Kenai and the Seller also worked through the property’s release from a cross-collateralized financing portfolio containing both tax-exempt and taxable bonds. Each of these elements presented unique challenges throughout the sale process. Leveraging their deep experience with special situations and structured investment sales, Kenai successfully navigated these complexities to close the transaction.
The sale enabled Global Village Academy to monetize a significant non-core real estate asset while retaining operational flexibility through the leaseback. Mesa Moving and Storage continues to occupy its portion of the site under a long-term lease, providing the new ownership with immediate in-place cash flow.
“This transaction demonstrates Kenai’s ability to successfully execute complicated sale structures involving non-traditional uses, association governance, and debt portfolio restrictions,” said Garrett Neustrom of Kenai Capital Advisors. “We are proud to have delivered a tailored solution that met the unique needs of both the Seller and the Buyer.”
