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Office Development Kicks Off in Ever-Expanding RiNo
Construction financing recently kicked off the Current River North, a 12-story 238,017-square-foot class-A office development located at 3617 Delgany St. in the River North Arts District (RiNo) of downtown Denver. The construction loan totals $76.97 million and was provided by an international banking institution.
Baxter Fain, Ryan Zikas, Sarah Dinning and Rob Cronenberg of Cushman & Wakefield Denver handled the debt financing.
“This was a wonderful opportunity to work with a best-in-class client with decades of trophy office development in an ever-expanding RiNo market. Starting this process during COVID was candidly a challenging task. However, the lending market recognized the sponsorship strength combined with the ‘A’ location and incredible building design, thus presenting us with multiple options. Our ultimate lender selection came down to leverage, no pre-leasing requirement and better flexibility for the client,” said Fain.
- ◦Development
- ◦Financing
