HFF Secures Financing for Denver Shopping Mall
The company worked on behalf of the borrower to arrange the fixed-rate loan for the multi-tenant property, whose roster includes Target, Chipotle and Great Clips.
By Adina Marcut
California Mall
HFF has secured the financing for the California Mall, a 42,890-square-foot retail center in downtown Denver. The company arranged the fixed-rate loan with Nationwide, on behalf of the borrower, Gart Properties.
Located at 1600 California St., on approximately 0.4 acres, the multi-tenant building is close to roughly 32 million square feet of office space and more than 132,000 employees. Additionally, the Colorado Convention Center is nearby.
Tenants at the three-story, fully leased building include Great Clips, Einstein Brothers Bagels, Red Robin Express and Chipotle. Target recently occupied the second and third floors, while Giordano’s will soon open. The mall, built in 1990, offers 42 outdoor cafes and various restaurants, including Corner Bakery Café, Panera Bread, Ink! Coffee, Modern Market, 1515 Restaurant and Hard Rock Café. The average median income within a 5-mile radius is $81,438, while within a 3-mile radius is $80,779.
Senior Managing Director Eric Tupler was part of HFF’s debt placement team that represented the borrower. Earlier this year, working on behalf of PAULS Corp., Tupler also arranged a post-acquisition financing for a multi-state industrial portfolio.
Image via Google Street View
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