DENVER, CO – September 10, 2018 – Holliday Fenoglio Fowler, L.P. (HFF) announces the refinancing for the California Mall building, a 42,890-square-foot, fully leased, multi-tenant urban retail center directly on the 16th Street Mall in downtown Denver.
The HFF team worked on behalf of the borrower, Gart Properties, to place the fixed-rate loan with Nationwide. HFF will service the loan, proceeds of which will be used to refinance the property.
The California Mall building is situated on .432 acres at 1600 California Street where California Street intersects with the 16th Street Mall, an irreplaceable location with the highest pedestrian traffic count. Additionally, the downtown building is surrounded by more than 32 million square feet of office space and more than 132,000 employees and is near the Colorado Convention Center. Constructed in 1990 and currently undergoing renovations, the three-story building is fully leased to six tenants, including Target, Giordano’s, Great Clips, Einstein Brothers Bagels, Red Robin Express and Chipotle. Target officially opened in July of 2018, occupying the entire second and third floors, and Giordano’s is expected to open later this fall. This is the only Target in downtown Denver.
The HFF debt placement team representing the borrower consisted of senior managing director Eric Tupler.
“It was a pleasure to work with Eric and the HFF team on this exciting project,” said Mark Sidell, president of Gart Properties. “Target’s opening marks the beginning of another great chapter in the story of Denver emerging as a superstar city.”
About Gart Properties
Gart Properties is a Denver-based real estate investment, development and management company with a reputation for turning underperforming assets into bustling business successes. The company’s portfolio of properties includes office buildings, resort properties, residential developments and more than 3.5 million square feet of retail shopping center space. Visit gartproperties.comto learn more.
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.
HFF Senior Managing Director
HFF Digital Content/Public Relations Specialist