HFF Announces $110M Financing for Mixed-Use Project in Downtown Denver
DENVER--(BUSINESS WIRE)--Oct 10, 2018--Holliday Fenoglio Fowler, L.P. (HFF) announces the $110 million financing for A Block, a 310,055-square-foot mixed-use development comprising the 200-key Kimpton Hotel Born; a 54,976-square-foot, Class A office building with ground-level retail space; and a 197-space parking garage in downtown Denver.
The HFF team worked on behalf of the borrower, Continuum Partners, LLC, a Denver-based firm specializing in urban, mixed-use developments, to place the floating-rate loan with a national bank. Loan proceeds will be used to retire the existing construction financing, which was also placed by HFF in 2015.
Completed in 2017, A Block has two separate components: the 12-story Hotel Born and the five-story office and retail component. The hotel features 13,937 square feet of flexible meeting space, a fitness center, business center, ground-floor retail space and two food and beverage options, Citizen Rail Restaurant in the hotel lobby and Tavernetta. The 100-percent-occupied office building also contains 7,929 square feet of ground-floor retail leased to national tenants. Additionally, there is a below-grade parking garage with 197 total spaces for the hotel, office and public use. Situated on .893 acres at 1600 Wewatta Street (hotel) and 1881 16th Street (office), A Block is positioned at the heart of the Denver Union Station urban redevelopment project. The property sits on the rail platform, immediately adjacent to the RTD Commuter Rail transit platform that connects Denver International Airport to downtown. This location at the corner of 16th Street and Wewatta provides hotel guests and tenants of the office and retail components immediate access to Denver’s most popular demand generators and amenities.
The HFF debt placement team representing the borrower consisted of senior managing director Eric Tupler, director Leon McBroom and associate Tyler Dumon.
About Continuum Partners, LLC
Continuum Partners, LLC is a progressive development firm specializing in building urban mixed-use developments that create successful pedestrian environments and integrate effectively with the surrounding urban fabric. Founded in Denver, Colorado, in 1997 with a deliberate mission to create sustainable human habitats of extraordinary character and enduring value, Continuum Partners has established itself as a national leader in urban, mixed-use, large-scale projects. Learn more at www.continuumpartners.com.
HFF and its affiliates operate out of 26 offices and are a leading provider of commercial real estate and capital markets services to the global commercial real estate industry. HFF, together with its affiliates, offers clients a fully integrated capital markets platform, including debt placement, investment advisory, equity placement, funds marketing, M&A and corporate advisory, loan sales and loan servicing. HFF, HFF Real Estate Limited, HFF Securities L.P. and HFF Securities Limited are owned by HFF, Inc. (NYSE: HF). For more information, please visit hfflp.com or follow HFF on Twitter @HFF.
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ERIC TUPLER, (303) 515-8000
HFF Senior Managing Director
KIMBERLY STEELE, (713) 852-3420
HFF Digital Content/Public Relations Specialist
KEYWORD: UNITED STATES NORTH AMERICA COLORADO
INDUSTRY KEYWORD: TRAVEL LODGING PROFESSIONAL SERVICES REIT FINANCE RETAIL SPECIALTY CONSTRUCTION & PROPERTY COMMERCIAL BUILDING & REAL ESTATE RESIDENTIAL BUILDING & REAL ESTATE OTHER CONSTRUCTION & PROPERTY OTHER RETAIL
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PUB: 10/10/2018 04:17 PM/DISC: 10/10/2018 04:17 PM