Mixed-use Development in Downtown Denver Receives $110M Financing
DENVER – Continuum Partners, LLC, a progressive Denver-based development firm specializing in building urban mixed-use developments has secured $110 million financing for A Block, a 310,055-square-foot mixed-use development comprising the 200-key Kimpton Hotel Born; a 54,976-square-foot, Class A office building with ground-level retail space; and a 197-space parking garage in downtown Denver.
Holliday Fenoglio Fowler, L.P. (HFF) worked on behalf of Continuum Partners, to place the floating-rate loan with a national bank. Loan proceeds will be used to retire the existing construction financing, which was also placed by HFF in 2015.
Completed in 2017, A Block has two separate components: the 12-story Hotel Born and the five-story office and retail component. The hotel features 13,937 square feet of flexible meeting space, a fitness center, business center, ground-floor retail space and two food and beverage options, Citizen Rail Restaurant in the hotel lobby and Tavernetta. The 100-percent-occupied office building also contains 7,929 square feet of ground-floor retail leased to national tenants. Additionally, there is a below-grade parking garage with 197 total spaces for the hotel, office and public use.
Located at 1600 Wewatta Street (hotel) and 1881 16th Street (office), A Block is positioned at the heart of the Denver Union Station urban redevelopment project, providing hotel guests and tenants of the office and retail components immediate access to Denver’s most popular demand generators and amenities.
The HFF debt placement team representing the borrower consisted of senior managing director Eric Tupler, director Leon McBroom and associate Tyler Dumon.