Continuum Partners has recently completed a recapitalization of over 50% of their 9+CO development, which is a common strategy used to restructure the equity and debt of a property.
As part of this process, CIM Group, the majority equity partner for 9+CO, has been replaced by new partners M Development and Carlton Associates.
According to reports from the Denver Business Journal, M Development and Carlton Associates have invested $92.5 million in order to become part owners of 9+CO.
The new partnership between Continuum Partners and its two new investors now jointly owns approximately 260,000 square feet of office and retail space within the development. This includes popular establishments such as Postino WineCafe , AMC Theatres , and Culinary Dropout . Additionally,the sale also includes an empty lot located north of the movie theater. Continuum plans on continuing construction in this area while managing overall development operations alongside their new partners. Their long-term vision for this block involves adding more retail options for visitors.
In addition to their involvement with projects like affordable housing developments in Five Pointsand workforce housing initiatives in downtown Denver,C ontinuum’s recent recapitalization efforts demonstrate their commitment towards creating thriving communities through strategic partnerships with experienced investors.
