DA Davidson sells $70 million in mixed-use bonds in Glendale entertainment district
DENVER–(BUSINESS WIRE)–DA Davidson’s Special District Group, a nationally recognized team of capital market professionals, successfully secured and closed approximately $70 million in senior and subordinated notes for the Riverwalk Metropolitan District ® #2 in Glendale, Colorado.
The development, known as the Glendale Entertainment District, is located in the city’s downtown area and is a master-planned mixed-use shopping, entertainment and retail center. Glendale’s entertainment district is expected to include an Alamo Drafthouse cinema, music venues, outdoor plazas, retail stores, fine and casual restaurants, sports bars, a hotel, two parking lots and a boardwalk along Cherry Creek . At full construction, the Glendale Entertainment District is expected to include approximately 213,660 square feet of restaurant, retail, hospitality and commercial space.
DA Davidson’s Special District Group in Colorado focuses on financing public infrastructure for land development through the issuance of municipal bonds. The team partners with special districts and promoters to structure turnkey, bespoke bond transactions to optimize the best economic outcomes for clients, delivering breakthrough financial solutions with hands-on early-stage partnerships. project upon completion.
“This highly anticipated project required complex financing elements, deep team expertise and a visionary developer to help build it efficiently in a profitable and sustainable manner,” said Brooke Hutchens, Managing Director of DA Davidson. “This is a pure example of how the right fundraising tools and team can ensure the success of a project of this magnitude that will sustain a thriving Denver and its community members long into the future.”
Central Street Capital, Inc. oversees the Development Entity and provides all project administration, management, accounting and oversight. Central Street Capital invests in real estate development projects and healthcare-related businesses and operates businesses in a wide range of industries.
“The Glendale Entertainment District is a grand vision backed by years of careful and diligent planning,” said Rob Salazar, Founder and Chairman of Central Street Capital. “Aligning with the most intentional financial partners is critical to the success of this project, and DA Davidson amply fits the bill with decades of experience, specialized expertise and tools that are hard to find in our market. »
Bordered by E. Virginia Avenue to the north, Cherry Creek South Drive to the south, and S. Cherry Street to the east, Glendale Entertainment District sits along the Cherry Creek Pedestrian Trail and the banks of Cherry Creek.
The development will take place in two phases. The first phase will be anchored by the Alamo Drafthouse cinema. The second phase envisions a 120-room hotel, poolside bar, and retail and restaurant space.
The proposed hotel is a full service accommodation facility, which will be associated with a nationally affiliated premium brand. The property, which is expected to open in 2025, will include a restaurant and bar/lounge and pool bar, 4,000 square feet of meeting space, an outdoor pool and sundeck, a fitness room, a work in the hall and a pantry.
The project will begin in 2022 with Phase 1 expected to open in late 2024. For more details on Glendale Entertainment District, please visit www.GlendaleEntertainmentDistrict.com.
With decades of industry experience, DA Davidson’s Special District Group has grown significantly over the past year across the country, particularly in Colorado, Utah and Idaho, successfully achieving more than 100 transactions, totaling more than $2 billion to finance public infrastructure to support development projects. by issuing municipal bonds. For more information about the DA Davidson Special District Group, visit: https://dadavidson.com/specialdistrictgroup.
About DA Davidson Companies
DA Davidson Companies is an employee-owned financial services company providing a range of financial services and advice to individuals, businesses, institutions and municipalities nationwide. Founded in 1935 with headquarters in Great Falls, Montana, and regional headquarters in Denver, Los Angeles, New York, Omaha and Seattle, the company has approximately 1,475 employees and offices in 28 states.
Subsidiaries include: DA Davidson & Co., a full-service investment firm providing wealth management, investment banking, equity and fixed income capital markets services and advice; Davidson Investment Advisors, a professional asset management firm; DA Davidson Trust Company, a trust and wealth management company; and Davidson Fixed Income Management, a registered investment adviser that provides fixed income portfolios and advisory services. For more information, visit dadavidson.com.
About Central Street Capital
Central Street Capital, Inc. is the Salazar Family Office based in Denver, Colorado. The Salazar family has been investing in successful projects for over 25 years. They have investments in real estate development projects, health-related businesses, and operations in a wide range of industries. Central Street Capital, Inc. operates as a private investment management firm investing only the funds of the Salazar family and its affiliated entities. For more information visit www.centralstreetcapitaldenver.com