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Patrinely, USAA Secure Construction Financing for Spec Denver Tower
Construction financing has been arranged for Block 162, a speculative Class AA office tower totaling 595,039 square feet in Denver’s central business district. HFF worked on behalf of the borrower, a joint venture between Houston-based Patrinely Group and San Antonio-based USAA Real Estate, to secure the four-year construction loan through PCCP, LLC.
Block 162 broke ground in June of 2018, and upon completion will be a core, 30-story office tower with 9,900 square feet of ground-level retail and parking in three below-grade and nine above-grade decks. The core and shell of the building is being constructed to meet LEED Gold certification, and it will be only the second office tower of 25-plus stories to be delivered in the last three decades in Denver’s CBD.
The 1.1-acre site is positioned on a corner lot at 675 15th St. in Denver’s Midtown West submarket.
HFF’s debt placement team representing the borrower included Leon McBroom and Eric Tupler.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Financing
- ◦Development