$135.68M refinancing secured for Class A office in Downtown Denver

DENVER, Mar. 15, 2022 – JLL Capital Markets announced today that it has arranged a $135.68 million refinancing for 1125 17^th St., a Class A office building totaling 494,689 square feet in Downtown Denver, Colorado.

JLL worked on behalf of the borrower, a joint venture partnership between Hines, Pearlmark and an undisclosed LP, to secure the five-year, floating-rate bridge financing through Deutsche Bank.

1125 17^th St. is positioned on half of a city block at the corner of 17^th and Lawrence Streets in Downtown Denver. The property is located within Denver’s West CBD submarket at the convergence of LoDo and the central business district, and provides a 24-7 live-work-play environment with numerous walkable retail, multi-housing and sports and entertainment venues all nearby. With a Transit Score® of 98, 1125 17^th St. has convenient access to Denver’s Union Station, 16^th St. Mall and multiple RTD light rail stops. Additionally, the asset has direct access to Interstate 25 via Auraria and 20^th St. on ramps.

At 25 stories tall, 1125 17^th St. offers 20,000-square-foot average floorplates, parking for more than 400 vehicles and a Starbucks on the ground level. Additional tenant amenities include a basketball and bocce court, full-service fitness club, juice and smoothie bar, EV car charging stations and lounge with conference space. The property was recently renovated in 2021 and is currently 60% leased to a diverse rent roll spanning many industries, including information technology, healthcare, financial services and energy.

“To align with the changing tenant needs and workplace of the future, the building will also undergo significant renovations,” said Chris Crawford, senior managing director at Hines. “While more details will be announced in the coming weeks, plans include a reimagined front door arrival, a refreshed lobby with a concierge, a new ground floor restaurant as well as a state-of-the-art tenant conference center and exclusive rooftop terrace.”

The JLL Capital Markets team representing the borrower was led by Senior Managing Director Eric Tupler and Managing Director Chris McColpin.

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 sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

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