HFF announced this week that it had arranged a 48-month, 65 percent loan-to-cost construction loan through a national bank for The Confluence in downtown Denver. The $79 million in financing will propel the 34-story tower project under development by PM Realty Group (PMRG) and National Real Estate Advisors. In 2013, HFF arranged the joint venture partnership between PMRG and National to develop the high-rise tower.
"The Confluence will undoubtedly be the preeminent multi-housing property in Denver, offering an unmatched combination of location, lifestyle, design and amenities, and ill serve as a striking addition to the Denver skyline," said HFF managing director Rob Rizzi. "PM Realty Group and National Real Estate Advisors have emerged as one of the foremost development partnerships for best-in-class multi-housing properties in the country."
The development site is situated on 1.21 acres at the southwest corner of 15th Street and Little Raven Street in the Riverfront Park area of the Lower Downtown district. The 34-story tower will provide mountain and skyline views and will include 10,000 square feet of retail and a 300-space underground parking garage.
For more news and information visit Blumberg Capital Partners.
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