Market Overview

HFF Announces Sale of One of Downtown Denver's Most Prominent Mixed-Use Towers


Holliday Fenoglio Fowler, L.P. (HFF) announces the sale of 1600 Glenarm
Place, an iconic, mixed-use high-rise located on the 16th
Street Mall in downtown Denver, Colorado.

The HFF team marketed the asset exclusively on behalf of the seller, a
joint venture between RedPeak Properties and Allstate Investments, and
procured the buyer, Northland Investment Corporation. The tower was
purchased along with a 0.77-acre land parcel for future development
located at 14th & Glenarm.

1600 Glenarm Place was originally constructed in 1967 as an office tower
known as the Security Life Building and was subsequently converted in
2006 by RedPeak Properties into one of downtown Denver's first and most
prominent residential and retail mixed-use projects. The building
comprises 333 luxury apartment units and approximately 29,000 square
feet of commercial space, including premium frontage along Denver's 16th
Street pedestrian mall. The 31-story building has a WalkScore®
of 96
and is within walking distance of nearly 40 million square
feet of office space and two blocks of light rail access. The
residential units average approximately 980 square feet in a range of
studio, one-bedroom, two-bedroom and penthouse layouts. Resident
amenities include an outdoor terrace with barbecue grills and fireplace,
state-of-the-art fitness center with Fitness on Demand and a
yoga/Pilates studio, demonstration kitchen, cyber lounge, conference
room, movie theatre, game room, resident library and reading room, valet
parking, 24-hour concierge service and door-to-door room service from
Earl's Restaurant on the property's ground floor.

The HFF investment advisory team representing the seller included
managing director Jordan Robbins and directors Jeff Haag and Anna

"1600 Glenarm is a one-of-a-kind, legacy asset within the downtown
Denver market and by far one of the most recognizable assets in the
area," Robbins said. "RedPeak was extremely forward-looking in 2006 with
its conversion from office space into a mixed-use residential and retail
building, which has allowed 1600 Glenarm to maintain its prominent image
within the market since its completion."

"Northland recognized the irreplaceable nature of this asset, which
marks their entry into the Denver market," Robbins continued. "This,
coupled with their ability to implement an aggressive value-add
strategy, will only serve to further the property's position within

About RedPeak Properties

RedPeak Properties is a full-service apartment owner, operator,
developer and acquirer with an exclusive focus on Denver and Colorado's
Front Range. The company continually upgrades the value of its portfolio
through the thoughtful development, redevelopment and repositioning of
its assets. RedPeak strives to provide distinctive, highly amenitized
residences close to key employment centers, public transportation and
entertainment districts. RedPeak Properties' portfolio comprises more
than 2,200 units located in Capitol Hill, Cherry Creek, City Park,
Downtown Denver, Greenwood Village, Littleton, Hilltop and Washington
Park. For more information, visit

About Allstate Investments

The Allstate Corporation (NYSE:ALL) is the nation's largest publicly
held personal lines insurer, protecting approximately 16 million
households from life's uncertainties. Allstate's real estate investments
group has decades of experience and looks for core and value-add
opportunities across geographies in the United States and
internationally, and in a range of investment vehicles, such as funds,
co-investments and joint ventures. Allstate's real estate investments
include retail, multi-family, office and industrial properties. For more
information on the company's investments focus, visit

About Northland Investment Corporation

Northland Investment Corporation is a real estate private equity firm
with a core competency in the acquisition, development, management and
ownership of multifamily real estate. Northland has $5 billion of assets
under management, including more than 25,000 residential units and 2.5
million square feet of commercial space, and $3.5 billion of development
in progress.

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
or follow HFF on Twitter @HFF.

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