Regions Midwest
$145M Construction Loan Set for Denver Tower
May 13, 2008
By: Denise L. Meyer, Contributing Correspondent

The Dallas office of Holliday Fenoglio Fowler L.P. has announced that it arranged a $140 million construction loan for 1800 Larimer (pictured). The building is a 496,000-square-foot Class A, Platinum LEED pre-certified office development in Denver, Colo.

The 22-story office tower is slated for completion in 2010. It is approximately 70 percent pre-leased to tenants including Xcel Energy, Frederick Ross Company and Citywide Bank.

HFF senior managing director Trey Morsbach and associate director Clint Corn worked exclusively on behalf of Westfield Development Partners to secure the 42-month, adjustable-rate loan through Wachovia Bank. Westfield Development Partners is the development arm of Denver-based Frederick Ross Company.

The site is between 18th and 19th Streets at Larimer Street, on the edge of Denver’s Lower Downtown area. The building will feature a raised floor air distribution system, fitness center, conference room and garden terrace.

CPN reported on other developments in Denver last week, including a 400-unit multi-family community slated for construction in the Central Platte Valley being developed by Trammell Crow Residential and Jupiter USA’s Dacono Gateway Centre.

CPN also reported on the first quarter Apartment Research Report by Marcus and Millichap Real Estate Investment Brokerage Group which forecasts new job growth, increased rents and 30 percent more new rental units on the market this year compared to 2007 in Denver.

 
Recent Midwest Headlines
Longworth Richard Longworth: Midwest Needs Strategy to Deal with Globalization
July 18, 2008
“The good news is that globalization is still fairly new--only a few decades old now,” said Richard Longworth to a packed room in Downtown Chicago this afternoon. “The bad news is that the Midwest is already behind on coping with it.”
DLC Acquires Skytop Pavilion in Cincinnati, Has $700M to Spend this Year
July 18, 2008
With more than $700 million in capital in its coffers to spend, privately-held retail real estate company DLC Management Corp. has just made its first purchase of the year, acquiring Skytop Pavilion, a grocery-anchored shopping center in Cincinnati.
Baker & Daniels Open Chicago Office
July 18, 2008
Baker & Daniels L.L.P. has opened an office at 311 South Wacker in Chicago, Ill.
Vehicle Developer Finds a 37,500SF Home in Suburban Detroit
July 18, 2008
The automotive industry in Detroit may be battered but it's not beaten. U.K.-headquartered Gibbs Technologies, a globally recognized developer of high-speed vehicles for consumer and military use, has chosen a property in Auburn Hills as the home of its new North American headquarters.
60,000SF Build-to-Suit Office Planned at 500-Acre Mixed-Use Project in Aurora
July 18, 2008
Development and construction firm Lauth has formed a joint venture with Lend Lease Communities to erect a 60,000-square-foot office building at Horizon Uptown, a 500-acre mixed-use development in Aurora, about 15 miles from Denver, Colo.