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| Market Center, Downtown Denver, CO |
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| 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.
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| 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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