HFF Secures Construction Loan for Denver Office Asset

The Class A office building broke ground this year and upon completion, will include a 30-story building with retail, office and parking spaces.
Block 162
Block 162

HFF has arranged a four-year construction loan for Block 162, a 595,000-square-foot Class A office tower in Denver. The company represented the borrower, a joint venture between Patrinely Group and USAA Real Estate. The loan was secured through PCCP LLC. Gensler is the architect of the project.

Located at 675 15th St., on approximately 1.1 acres, between California and Welton streets, the office development is situated in Denver’s Midtown West submarket. Additionally, the property will offer convenient access to the 16th Street Mall, the Colorado Convention Center and the Denver Center for the Performing Arts.

The 30-story building will feature 9,900 square feet of ground-level retail space and parking in three below-grade and nine above-grade decks. Block 162 broke ground in the summer of this year and upon completion in 2020, will offer 9,500 rentable square feet per floor, a 12th floor terrace with social lounge, an outdoor and indoor fitness center, bike storage and approximately 2,800 square feet of meeting space.

HFF Director Leon McBroom and Senior Managing Director Eric Tupler were part of the debt placement team that worked on behalf of the borrower.

Image courtesy of Gensler