DENVER, CO – Holliday Fenoglio Fowler, L.P. (HFF) announces $83.03 million in financing for the development of Lakehouse on 17th, a 196-unit, for-sale condominium project in Denver’s Sloan’s Lake neighborhood.
HFF worked exclusively on behalf of NAVA Real Estate Development to place the floating-rate construction loan with a national bank.Lakehouse on 17th is located at 4202 W. 17th Avenue on the south side of the 177-acre Sloan’s Lake Park. The 12-story project will comprise 196 units, 13 of which will be multi-level townhomes, along with 6,000 square feet of retail.
Lakehouse on 17th will be the only waterfront high-rise in the Denver metropolitan area and will provide views of the city’s largest lake, downtown and the Rocky Mountains. The property will feature high-end finishes and amenities, including a second-floor landscaped amenity deck with community gardens, an urban farm, pool, hot tub, lounging areas and firepit. Other amenities will include a resident lounge with community kitchen, indoor/outdoor fireplace, media den and private event space, as well as a wellness center with a fitness lab, yoga studio and fresh juicing station. Lakehouse on 17th is the first residential project in Colorado to pilot and pursue WELL Building Certification from the International Well Building Institute (IWBI). The WELL Building Standard is the first to integrate human health and wellness into the design, construction and operations of the built environment in order to optimize the health of its end users.
The HFF debt placement team representing the borrower included director Brock Yaffe and managing directors Josh Simon and Bryan Clark.
“Condo development in Colorado has been limited for more than a decade, and financing Lakehouse required significant expertise to connect the dots,” stated Brian Levitt, president of NAVA. “The HFF team did an outstanding job helping NAVA finance Lakehouse as Colorado’s first registered project to pursue WELL Building Certification.”
About NAVA Real Estate Development: NAVA Real Estate Development (NAVA) is a real estate investment and development firm founded in 2013 by Denver residents Trevor Hines and Brian Levitt. NAVA strives to develop architecturally significant buildings in prime locations that blend quality, function and design. The name NAVA comes from a Hebrew word meaning “beautiful”, and NAVA is committed to creating developments that shape communities and are sensitive to their environments. The firm is positioned as an agile and innovative group to identify strategic opportunities and execute with precision.
NAVA is proud to work with the best technology, resources and teams to ensure the greatest economic, social and environmental success, for its investments and its partners.NAVA is a certified B-Corp (bcorporation.net) and part of a global movement to redefine success in business by voluntarily meeting higher standards of transparency, accountability and performance. It is one of just over 2,000 certified B Corporations that compete not just to be the best in the world, but to be the best for the world. For more about NAVA, please visit navareal.com or call 303.900.0060.
About HFF: HFF and its affiliates operate out of 26 offices and are a leading provider of commercial real estate and capital markets services to the global commercial real estate industry. HFF, together with its affiliates, offers clients a fully integrated capital markets platform, including debt placement, investment advisory, equity placement, funds marketing, M&A and corporate advisory, loan sales and loan servicing. HFF, HFF Real Estate Limited, HFF Securities L.P. and HFF Securities Limited are owned by HFF, Inc. (NYSE: HF). For more information, please visit hfflp.com or follow HFF on Twitter @HFF.