HFF Arranges Loan for Denver Office Asset Sale
- Jun 26, 2019
HFF has secured a post-acquisition loan for The George—formerly known as the Symes Building—a 100,615-square-foot office building in Denver. The company worked on behalf of the borrower, a joint venture between Harbor Associates and Stockbridge Capital Group, to arrange the four-year, floating-rate loan. According to Yardi Matrix data, the asset last traded in 2018, when Harbor Associates acquired it for $24.5 million.
Built in 1906, the eight-story property was home to the Downtown Woolworth’s department store on the ground floor. Designed by New-York-based firm Hunt & Hunt, The George is now home to a mix of office and retail tenants. Located at 820 16th St., in Denver’s Midtown West area, The George provides convenient access to various dining, shopping and entertainment venues including The Colorado Convention Center, Sculpture Park, Denver Center for the Performing Arts and Ellie Caulkins Opera House at Denver Performing Arts Complex.
The joint venture plans to renovate the property to include new exterior lightning, new signage, an activated basement space with a bike barn and repair room, on-site showers and lockers and a lobby space. The office building includes 10,800 square feet of retail space.
Senior Managing Director Eric Tupler and Senior Director Leon McBroom were part of the debt team that represented the borrower.