Ritz-Carlton Denver Receives $55.1M Refinancing from HFF
DENVER, CO – Holliday Fenoglio Fowler, L.P. (HFF) announced this week that it has arranged $55.1 million in refinancing for The Ritz-Carlton, Denver, a 202-room, full-service, AAA Five-Diamond award-winning, luxury hotel in downtown Denver, Colorado.
HFF worked on behalf of the borrower, Pearlmark, to place the floating-rate loan with the Canadian Imperial Bank of Commerce. Loan proceeds will be used to refinance an existing loan.
A best-in-class hotel since its 2008 opening, The Ritz-Carlton, Denver underwent $9.3 million in capital improvements between 2013 and 2015. The hotel features The Ritz-Carlton Club Level® with dedicated concierge and continuous food service throughout the day; Elway’s Restaurant, six-time winner of Wine Spectator’s Award of Excellence; Forbes Four-Star award-winning The Ritz-Carlton Spa; recently-renovated fitness center with adjacent salon; and access to the adjacent TruFit Athletic club with lap pool, Olympic weights and an indoor climbing wall.
Additionally, the hotel offers 12,383 square feet of meeting and event space with access to the hotel’s Event Concierge, Technology Butler® services and a catering and entertainment team. Situated on .5 acres at 1881 Curtis Street, The Ritz-Carlton, Denver is in the epicenter of Denver’s corporate and entertainment district. Within walking distance from the hotel is Denver Union Station, with access to the light rail, Colorado Convention Center, Coors Field, Pepsi Center, Sports Authority Field at Mile High and more than 36.7 million square feet of office space.
The HFF team representing the borrower was led by senior managing director Eric Tupler, senior managing director and head of HFF’s hotel group Dan Peek and managing director John Bourret.
Photo Credit: Jeffrey Beall via Wikimedia Commons