Continuum Partners Secures Refi for Denver TOD

Block A development. Image courtesy of JLL Capital Markets

Continuum Partners has secured $23 million in refinancing for a 60,000-square-foot component of A Block, a mixed-use development in Denver. A JLL Capital Markets team led by Senior Managing Director Eric Tupler arranged the loan through HTLF.

Completed in 2017, the Class A property is part of the A Block development, a $120 million hotel, office and retail complex. The property comprises a 47,047-square-foot office building, 12,551 square feet of retail and a 200-key hotel. The 12-story hotel was not part of the loan’s collateral.

The five-story building has a steel frame construction type and masonry exterior, and features two passenger elevators, a fitness center, controlled access and 197 subterranean parking spaces. The low-rise building is LEED Silver Certified.

The development is located at 1881 16th St., in the LoDo neighborhood, right next to Union Station. The transit-oriented property is also close to the intersection of Interstate 25 and Route 287.

Union Station redevelopment

Block A is part of the Union Station project, a multibillion-dollar redevelopment. The $500 million estimated project plans to transform approximately 19.5 acres of abandoned rail yard into an urban center featuring retail, residential and office developments.

Financing for the Denver Union Station project includes a series of public and private sources. The project features approximately $200 million of local, state, federal and private developer generated funds and $300 million of federal loans. Around $3.5 billion will be invested in private development projects, according to RTD Denver.

Continuum serves as master developer, the team also including Skidmore, Owings and Merrill, as well as AECOM, Kiewit Construction and Hargreaves Associates.