Holliday Fenoglio Fowler, L.P. (HFF) has announced $54.60 million in acquisition bridge financing for the repositioning of 930 15th Street, a 223,000-square-foot vacant office/data center building in Downtown Denver, Colorado.
The HFF team worked on behalf of the borrower, SteelWave LLC and Rialto Capital Management, to arrange the four-year, floating-rate acquisition and bridge loan through Square Mile Capital Management. Loan proceeds will be used to acquire and reposition the asset into a state-of-the-art office building.
930 15th Street is located at the corner of 15th and Curtis Street in Downtown Denver. The property served as the administrative back office center of CenturyLink for the past 20 years and is currently vacant.
Steelwave LLC and Rialto Capital Management with design by Gensler Architects will transform the asset into office space within the Denver CBD through significant renovations and modern amenities. Planned renovations include a floor-to-ceiling glass curtain wall on two facades Planned amenities include a collaboration lounge area, café and wine bar, rooftop fitness center, bike lab, rooftop event area and lounge, and conference center.
The HFF debt placement team representing the borrower included director Leon McBroom and senior managing director Eric Tupler.