Continuum Refis ‘A Block’ Development in Denver
Holliday Fenoglio Fowler, L.P. reports it arranged $110 million in financing for the 310,055-square-foot project that includes the 200-key Kimpton Hotel Born; a 54,976-square-foot, Class A five-story office building with ground-level retail space and a 197-space parking garage in Downtown Denver.
DENVER—Continuum Partners has refinanced its A Block mixed-use development project here.
Holliday Fenoglio Fowler, L.P. reports it arranged $110 million in financing for the 310,055-square-foot project that includes the 200-key Kimpton Hotel Born; a 54,976-square-foot, Class A five-story office building with ground-level retail space and a 197-space parking garage in Downtown Denver.
An unnamed national bank provided the floating-rate loan for Denver-based Continuum Partners. Loan proceeds will be used to retire the existing construction financing, which was also placed by HFF in 2015. Globest.com reported in 2015 that HFF arranged an $89.5-million construction loan for A Block @ Union Station.
Continuum Partners, LLC worked with HFF to place the four-year construction loan with Wells Fargo and CrossHarbor Capital Partners at the time. Continuum also raised $14.5 million in equity from more than 20 investors in addition to contributing the land to the project.
The HFF debt placement team that represented Continuum Partners in its latest refinancing consists of senior managing director Eric Tupler, director Leon McBroom and associate Tyler Dumon.
The A Block development was completed in 2017. The 12-story Hotel Born 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% 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.
Situated on .893 acres at 1600 Wewatta St. (hotel) and 1881 16th St. (office), A Block is positioned at the heart of the Denver Union Station urban redevelopment project. The property sits on the rail platform, immediately adjacent to the RTD Commuter Rail transit platform that connects Denver International Airport to downtown.