DENVER, CO – June 25, 2019 – Holliday Fenoglio Fowler, L.P. (HFF) announces that it has arranged post-acquisition bridge financing for The George, an eight-story, 100,615-square-foot office building with ground-floor retail space in Denver, Colorado.
HFF worked on behalf of the borrower, a joint venture between Harbor Associates and Stockbridge Capital Group, to secure the four-year, floating-rate financing through a regional bank. The business plan is to lease-up the remainder of the building in addition to completing interior and exterior renovations. The anticipated renovations include: updated exterior lighting, new signage, fresh paint to the lower two floors, an activated basement space with a bike barn and repair room, on-site showers and lockers and an improved lobby space.
The George, formerly known as the Symes Building, is located at 820 16th Street in the Midtown West micro-market of Denver’s central business district. The property is positioned at the corner of the 16th Street Mall and Champa Street, which boasts one of the CBD’s densest daytime populations with more than 132,000 employees and approximately 35,000 daily pedestrians. Tenants and visitors benefit from walkable access to an abundant retail and entertainment amenity base as well as the 16th Street Free Mall ride and the light rail stop at 16th and California, just one block from the property. Originally built in 1906, The George was one of the first steel-framed buildings in Denver and features iconic architecture.
The HFF debt placement team representing the borrower included senior managing director Eric Tupler and senior director Leon McBroom.
About Harbor Associates
Harbor Associates (“Harbor”) specializes in acquiring, renovating and leasing commercial properties throughout Southwestern U.S. markets. Harbor aims to generate superior risk-adjusted returns by sourcing acquisitions both on and off market and utilizing design expertise to create a differentiated product that meets the demands of today’s sophisticated tenants. Since 2015, Harbor has acquired over 2.3 million square feet of office, flex and retail space in quality submarkets throughout Los Angeles, Orange County, San Diego and Denver.
About HFF
HFF and its affiliates operate out of 26 offices and are a leading provider of commercial real estate and capital markets services to the global commercial real estate industry. HFF, together with its affiliates, offers clients a fully integrated capital markets platform including debt placement, investment advisory, equity placement, funds marketing, M&A and corporate advisory, loan sales and loan servicing. HFF, HFF Real Estate Limited, HFF Securities L.P. and HFF Securities Limited are owned by HFF, Inc. (NYSE: HF). For more information, please visit hfflp.com or follow HFF on Twitter @HFF.
