DENVER – PM Realty Group of Houston and National Real Estate Advisors are developing The Confluence, a 288-unit, 34-story residential tower in downtown Denver .
HFF arranged $79 million in financing, with a 48-month, 65 percent loan-to-cost construction loan through a national bank. In 2013, HFF arranged the joint venture partnership between PMRG and National to develop the high-rise tower.
The development site is situated on 1.21 acres at the southwest corner of 15th Street and Little Raven Street in the Riverfront Park area of the Lower Downtown district. The tower include 10,000 square feet of retail and a 300-space underground parking garage. Due for completion in 2017, units will include one-, two- and three-bedroom options averaging 1,040 square feet.
The HFF team representing the borrower included managing directors Rob Rizzi and Josh Simon, associate director Colin Oberg and real estate analysts Leon McBroom and Matt Gangaware.
Headquartered in Houston, PM Realty Group has a strategic presence in 30 markets.