April 8, 2016
Pearlmark, working through Holliday Fenoglio Fowler LP, has obtained refinancing to the tune of $55.1 million for its 202-room Ritz-Carlton Denver at 1881 Curtis St. HFF placed a floating-rate loan with the Canadian Imperial Bank of Commerce.
Proceeds from the loan will be used to refinance an existing loan. In 2013, HFF also helped Pearlmark secure $51 million in refinancing. The borrower acquired the Ritz-Carlton, Denver in 2008, soon after it opened. The property underwent $9.3 million in capital improvements between 2013 and 2015. The HFF team representing the borrower was led by Eric Tupler, Dan Peek and John Bourret.