Tuesday, January 12, 2016

HFF arranges $23.665 million financing for Market Center in downtown Denver, CO

Market Center, Downtown Denver, CO

Leon McBroom
DENVER, CO – Holliday Fenoglio Fowler, L.P. (HFF) announced it has arranged $23.665 million in financing for Market Center, a mixed-use office and retail property totaling 120,736 square feet in downtown Denver.

HFF worked on behalf of the borrower, a joint venture between Urban Renaissance Group, Stars Investments and City Street Investors, to secure the floating-rate financing through First National Denver.

 The 36-month loan has two 12-month extension options and was used to acquire the asset, which HFF marketed to the borrower in September 2015.

Market Center is located on the corner of 17th and Market Streets in Denver’s Lower Downtown (LoDo) submarket providing immediate access to numerous retail, entertainment and dining amenities.

Eric Tupler
 In addition, the transit-oriented property is four blocks from Denver’s Union Station and is near Broadway Street, a major thoroughfare in the central business district. 

Originally constructed between 1872 and 1902 and renovated most recently in 2014, the three- and four-story property encompasses five buildings offering a variety of creative office space totaling 84,515 square feet situated above 36,221 square feet of street- and garden-level retail.

HFF’s debt placement team was led by associate director Leon McBroom and senior managing director Eric Tupler.  Dave Lederhos with First National Denver represented the lender in the transaction.

“The building’s LoDo location and strong submarket metrics combined with ownership’s business plan attracted a wide array of lenders; the financing request received interest from local and national banks, debt funds and life insurance companies,” McBroom said.

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

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