A $125 million loan was arranged for a newly built residential high-rise in the heart of downtown Denver.
JLL Capital Markets worked on behalf of the borrower, a joint venture between 1776 Curtis LLC and Pacific Life Co., to secure the 10-year loan for The Quincy, a 359-unit Class A property at Curtis and 17th streets.
The loan includes a 3.4% fixed-rate loan was provided by a correspondent life insurance company lender. Loan proceeds were used to refinance the borrower’s construction loan. Eric Tupler, senior managing director, and Kristian Lichtenfels, senior director, of JLL Capital Markets represented the borrower.
The Quincy is situated one block from the 16th Street Mall and two blocks from a light-rail station.
Completed in 2018, the 28-story building also is within walking distance of more than 12.5 million square feet of office space.
Units, which average 872 sf, include 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 Quincy’s penthouse units also have wine coolers, hardwood floors, fireplaces and 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.
The property also includes a seven-story parking garage with 533 spaces and 10,135 sf of ground-level retail space.
