DENVER—HFF has arranged $79 million in financing for The Confluence, the 288-unit, luxury residential tower in downtown Denver currently under development by PM Realty Group and National Real Estate Advisors.
Working on behalf of the PMRG/National joint venture, HFF secured a 48-month, 65% loan-to-cost construction loan through a national bank. In 2013, HFF arranged the joint venture partnership between PMRG and National to develop the high-rise tower.
The development site is situated on 1.21 acres at the southwest corner of 15th Street and Little Raven Street in the Riverfront Park area of the Lower Downtown district. The 34-story tower will provide mountain and skyline views and will include 10,000 square feet of retail and a 300-space underground parking garage. Due for completion in 2017, units will include one-, two- and three-bedroom options averaging 1,040 square feet. Community amenities will include a state-of-the-art fitness center, swimming pool with lounge and cabanas, spa, fire pit, game room, clubhouse and business center.
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David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
