JLL arranges $125M financing for The Quincy
Loan proceeds refinanced construction debt on the Class A high-rise residential tower in downtown Denver
DENVER, March 10, 2020 – JLL Capital Markets announced today that it has arranged $125 million in financing for The Quincy, a newly constructed, Class A, 359-unit, high-rise residential tower located in the heart of downtown Denver.
JLL worked on behalf of the borrower, a joint venture between 1776 Curtis, LLC and Pacific Life Insurance Company, to secure the 10-year, 3.4%, fixed-rate loan with a correspondent life insurance company lender. Loan proceeds were used to refinance the borrower’s construction loan.
The Quincy is located at the intersection of Curtis and 17th Streets, one block from the 16th Street Mall and two blocks from light rail. Completed in 2018, the 28-story building is within walking distance to more than 12.5 million square feet of office space and features spacious units averaging 872 square feet. The Quincy also includes a seven-level parking garage totaling 533 spaces and 10,135 square feet of ground-floor retail.
Units feature high-end finishes such as stainless steel appliances, slab granite countertops, contemporary backsplashes, solid wood cabinetry, wood-style flooring, walk-in closets, front-loading washers and dryers, and keyless entry. The property’s penthouse units also have wine coolers, hardwood floors, fireplaces and spacious balconies with outdoor grills. Common area amenities include a glass-sided pool, spa, outdoor kitchen, fire pits, game room with billiards table, resident lounge, indoor/outdoor fitness center, movement studio, pet spa, business center, coffee lounge and 24-hour concierge service.
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment advisory, debt placement, equity placement or a recapitalization. The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.
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JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $18.0 billion, operations in over 80 countries and a global workforce of more than 93,000 as of December 31, 2019. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.