March 25, 2019
A partnership between Washington, D.C.-based National Real Estate Advisors, LLC, acting on behalf of an unnamed client, and PMRG/Madison Marquette, secured $75 million in financing for The Confluence, a 287-unit, luxury residential tower in downtown Denver.
The Confluence is situated on 1.21 acres at the southwest corner of 15th Street and Little Raven Street, in the Riverfront Park area of the Denver CDB. The 34-story live-work-play property was completed in 2017.
HFF’s Josh Simon and Rob Rizzi secured the 10-year, fixed-rate loan on behalf of ownership through a life company lender. Loan proceeds are being used to retire existing construction debt.
HFF previously arranged the joint venture partnership between PMRG and National in 2013 at the start of the project’s development process, and later procured construction financing for the partnership in 2015.
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