Tuesday, September 3, 2013

PM Realty Group Announces New Development at Riverfront Park in Denver’s most historic location

Riverfront Park skyline, Denver, CO
Rob Rizzi
DENVER, CO – PM Realty Group (PMRG), a nationally recognized, full-service commercial real estate firm.  announced development plans for a 288-unit, 34-story luxury multi-family high-rise tower located at 2166 15th Street at the corner of 15th and Little Raven, at the confluence of the Platte River and Cherry Creek, the historical origin of the City of Denver.

Situated on a 1.21 acre site, the luxury for rent apartment tower represents one of the best infill sites in Denver.

Josh Simon
 The partnership between National Real Estate Advisors (NREA), PMRG and Ray Suppa will develop and own the glass apartment tower, which will be the tallest structure in Riverfront Park. 

 Construction is expected to commence fall 2013, with delivery anticipated in the fall of 2015

Jordan Robbins
 HFF arranged the joint venture equity for the development of the project. The HFF team representing the borrower included managing director Rob Rizzi and real estate analyst Colin Oberg out of HFF’s New York office as well as directors Josh Simon and Jordan Robbins and senior real estate analyst Jake Young from HFF’s Denver office.

Newmark Grubb Knight Frank was the land broker for the 50,000-square-foot parcel of land. Newmark Grubb Knight Frank brokers Stephen Roesinger, senior managing director, and Wade Fletcher, associate broker, assisted both parties in the transaction.

Bryant Nail
“We spent quite a bit of time understanding and studying the downtown market and noticed the growing trend of demand for high quality high-rise living,” said Bryant Nail, Executive Vice President, Multi-family Development. “The specific demographics that we are targeting desire a diverse mix of homes of which we have crafted into this development.”

“We knew this was the best multi-family site in Denver the first time we saw it,” said Roger Gregory, Executive Vice President and Chief Financial Officer with PMRG.

 “With unimpeded views of the both the mountains and downtown, front door access to three parks and Cherry Creek Trail, and walking distance from the newly extended 16th Street Mall, we saw an opportunity to provide an unrivaled housing option in Denver’s urban core.”   

 For a complete copy of the company’s news release, please contact:

Kristen M. Murphy
Associate Director
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 | www.hfflp.com

Sommer Bukowski
PMRG | PM Realty Group
(713) 209-5810 (office)
(214) 621-3317 (cell)

Bryant Nail of PMRG

(972) 421-3378.

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