DENVER — Clayton Lane, a 335,000-square-foot lifestyle center in the Denver submarket of Cherry Creek, has received $48 million in financing. The center is located at the intersection of East 1st Avenue and University Boulevard, near Cherry Creek Regional Mall.
Clayton Lane is 99 percent leased to notable tenants like Whole Foods, Crate & Barrel, Arhaus Furniture, Sur La Table, White House Black Market, A Pea in the Pod, Design Within Reach and Bose.
Anchor Whole Foods, along with an adjacent Sears property, will be part of a massive redevelopment that is likely to include multiple uses like office and multifamily.
The fixed-rate, 10-year, interest-only loan was arranged by Andrew Stewart and Allison Moravec of Cronheim Mortgage. It was placed with the American General Life Insurance Company and the National Union Fire Insurance Company on behalf of the borrower, AmCap Clayton. Cronheim acted as correspondent and servicer for both lenders.