D.A. Davidson Sells $70MM in Bonds for Mixed-Use, Entertainment District in Glendale

DENVER--(BUSINESS WIRE)--D.A. Davidson’s Special District Group, a nationally recognized team of capital market professionals, has successfully priced and closed approximately $70MM of senior and subordinate bonds for Riverwalk Metropolitan District (MD) No. 2 in Glendale, Colorado.

The development, known as the Glendale Entertainment District, is located within the city’s downtown area, and is a master planned mixed-use retail, entertainment and commercial center. Glendale Entertainment District is anticipated to include an Alamo Drafthouse Cinema, live concert venues, outdoor plazas, retail shops, fine dining and casual restaurants, sports bars, a hotel, two parking structures and a boardwalk along Cherry Creek. At full build-out, the Glendale Entertainment District is anticipated to consist of approximately 213,660 square feet of restaurant, retail, hospitality and commercial space.

D.A. 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 developers to structure turnkey and tailored bond transactions to optimize the best economic outcome for clients, driving groundbreaking financial solutions with hands-on partnerships from project inception to completion.

“This highly anticipated project required complex financing elements, deep team expertise and a visionary developer to help effectively build it out in a cost-effective and sustainable manner,” said Brooke Hutchens, managing director at D.A. Davidson. “It’s a pure example of how the right financing tools and team can ensure the successful delivery of a project of this scale that will support a thriving Denver and its community members long into the future.”

Central Street Capital, Inc. oversees the development entity and provides all administrative, management, accounting and oversight of the project. Central Street Capital invests in real estate development projects and healthcare-related companies and operates businesses across a wide range of industries.

“The Glendale Entertainment District is a big vision backed by years of thorough and diligent planning,” said Rob Salazar, founder and president of Central Street Capital. “Critical to this project’s success is aligning with the most intentional financial partners, and D.A. Davidson more than fit the bill with decades of experience, specialized expertise and the tools not easily found 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 pedestrian-friendly Cherry Creek trail and the banks of Cherry Creek.

The development will occur in two phases. The first phase will be anchored by the Alamo Drafthouse Cinema. Phase two contemplates a 120-room hotel, pool deck bar and retail and restaurant space.

The proposed hotel is a full-service lodging facility, which will be associated with an upscale, nationally affiliated brand. The property, which is anticipated to open in 2025, will feature a restaurant and bar/lounge and a pool bar, 4,000 square feet of meeting space, an outdoor pool and sundeck, a fitness room, a lobby workstation and a market pantry.

The project will break ground in 2022 and Phase 1 is slated for a grand opening in late 2024. For further details on Glendale Entertainment District, please visit www.GlendaleEntertainmentDistrict.com.

Powered by decades of industry experience, D.A. Davidson’s Special District Group has significantly grown this past year across the nation, especially in Colorado, Utah and Idaho, successfully completing more than 100 transactions, totaling more than $2 billion to fund public infrastructure to support development projects through the issuance of municipal bonds. For more information on D.A. Davidson’s Special District Group, visit: https://dadavidson.com/specialdistrictgroup.

About D.A. Davidson Companies

D.A. Davidson Companies is an employee-owned financial services firm offering a range of financial services and advice to individuals, corporations, institutions and municipalities nationwide. Founded in 1935 with corporate 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: D.A. 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; D.A. Davidson Trust Company, a trust and wealth management company; and Davidson Fixed Income Management, a registered investment adviser providing fixed income portfolio and advisory services. For more information, visit dadavidson.com.

About Central Street Capital

Central Street Capital, Inc. is the Family Office of the Salazar Family based in Denver, Colorado. The Salazar Family has invested in successful projects for over 25 years. They have investments in real estate development projects, healthcare-related companies, and operating businesses in a wide range of industries. Central Street Capital, Inc. operates as a private investment management company investing only the funds of the Salazar Family and its affiliated entities. For more information, visit www.centralstreetcapitaldenver.com