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Continuum Finds News Investors for 9+CO Project
Continuum Partners recapitalized more than half of the 9+CO development, a move typically made to change a property’s equity and debt structure.
As part of the recapitalization, 9+CO’s majority equity partner, CIM Group, is out. M Development and Carlton Associates are in.
The Denver Business Journal reports M Development and Carlton Associates spent $92.5 million to become part owners of 9+CO.
The new partners and 9+CO’s original developer Continuum now jointly own 260,000 square feet of office and retail space, home to Postino, AMC and Culinary Dropout. The sale also includes the vacant property north of the movie theater. Continuum said it will continue building out the area and managing the development in partnership with the new owners. The long-term plan is to add more retail to the block.
Continuum is also developing affordable housing in Five Points and workforce housing in downtown Denver.
- ◦Financing
