1700 Broadway in Denver's central business district
 |
| Mary Sullivan |
DENVER, CO – HFF announced today that it has arranged $49
million in acquisition financing for 1700 Broadway, a 22-story,
394,151-square-foot office building in Denver’s central business district.
HFF
worked on behalf of the borrower, Artis HRA 1700 Broadway, LP, a 50/50
partnership between MDC Realty Advisors USA, Inc. and Artis REIT, to secure the
10-year, 3.11 percent, fixed-rate loan through Principal Real Estate Investors.
Loan proceeds were
used to acquire the property in a sale brokered by HFF’s Mary Sullivan and John
Jugl.
1700
Broadway is located on the western edge of the Uptown submarket in Denver’s
central Business District.
 |
| Josh Simon |
The property
is one of Denver’s original skyscrapers; completed in 1956 and designed by
world-renowned architect I.M. Pei.
Building amenities include a 12-level covered parking garage, a
Starbucks and a copy center.
Additionally, an
iconic 150-foot atrium is situated adjacent the property, which includes a
sundry shop, food court and a covered outdoor dining facility, which is not
part of the collateral.
The property is 96.5 percent leased to 24 tenants of which
Whiting Oil and Gas Corporation is the largest, occupying nearly 173,000 square
feet.
 |
| Eric Tupler |
The
HFF team representing the borrower was led by director Josh Simon and
senior managing director Eric Tupler.
“This
transaction is a great example of the importance of having an integrated
capital markets effort to benefit and ensure a successful execution,” said HFF
senior managing director Mary Sullivan, who represented the seller.
MDC Realty Advisors USA, Inc. through its
U.S. affiliated company Hannay Realty Advisors is a private commercial real
estate company that focuses on asset and property management in the United
States.
Hannay Realty Advisors
currently manages approximately 12 million square feet of commercial properties
and has offices in Phoenix, Denver, Los Angeles, Orange County, San Francisco,
Kansas City and Las Vegas.
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
No comments:
Post a Comment