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| Riverfront Park skyline, Denver, CO |
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| 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.
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| 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
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| 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.
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| 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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