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| Hudson's Bay Centre, central business district, Denver, CO |
DENVER, CO – HFF announced today that it has secured $21.25
million in financing for Hudson’s Bay Centre, a Class A,
172,912-square-foot boutique office building in Denver’s central business
district.
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| Josh Simon |
Working on behalf of the borrower, a 50/50 partnership between MDC
Realty Advisors USA, Inc. and Artis REIT, HFF placed the seven-year, 3.76
percent, fixed-rate loan with Principal Real Estate Investors. Loan proceeds were used to acquire the
property.
Hudson’s Bay Centre is located at 1600 Stout Street along the mile long
16th Street Mall in the Midtown East section of Denver’s central business
district. The transit-oriented,
20-story property, which is currently 96.4 percent leased, is adjacent to the
16th and Stout Station RTD light rail station and a half of a block away from
the 16th and California Station.
The
HFF team representing the borrower was led by director Josh Simon and
real estate analyst Leon McBroom.
MDC
Realty Advisors USA, Inc. through its 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 and Las Vegas.
Artis REIT (TSX: AX.UN), is one of the largest diversified
commercial real estate investment trusts in Canada. Artis REIT’s management team has extensive experience in
construction, development, and management of commercial and other properties in
Canada and the United States. Over the last 10 years, Artis has executive an
aggressive but disciplined growth strategy, building a portfolio of office,
retail and industrial properties in Canada and select U.S. markets with a major
concentration in Western Canada.
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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