June 3, 2019
Hines and its equity partner obtained $220 million in financing for its 1144 15th Street, a 673,852-square-foot Class AA office building in Denver, CO. Eric Tupler of HFF led the team to secure a 17-year, fixed-rate permanent loan through a national life insurance company. HFF had also arranged construction financing for the project in 2015, on behalf of Hines.
The 40-story office tower was completed in 2018. In addition to the office space, 1144 15th Street has 5,770 square feet of retail and 13 stories of parking. The property represents the first high-rise office development in more than three decades in Denver. Tenants include Gates Industrial Corp., Optiv Security Inc., and Faegre Baker Daniels.
“The permanent financing we recently obtained is a testament to the building’s position in the marketplace, and to the core nature of the finished product and tenant roster,” said Hines’ Jay Despard.
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