Continuum Partners has recently completed a recapitalization of over 50% of their 9+CO development. This strategic move is often done to restructure the equity and debt of a property.
As part of this recapitalization, CIM Group, the majority equity partner for 9+CO, has been replaced by M Development and Carlton Associates.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 partial owners of 9+CO.
The new partners will now jointly own approximately 260,000 square feet of office and retail space within the development. This includes popular establishments such as Postino, AMC Theaters, and Culinary Dropout. Additionally,the sale also includes an empty lot located north of the movie theater. Continuum will continue managing and developing this area in collaboration with their new partners with plans to add more retail options in the future.
In addition to their work on 9+CO project,Cotinuum is also actively involved in other developments such as affordable housing projects in Five Pointsand workforce housing initiatives downtown Denver.
