DENVER — Investment funds managed by Morgan Stanley Real Estate Investing (MSREI) have acquired a seniors housing portfolio for $305 million. Kayne Anderson was the seller. Totaling 463 units, the portfolio features three communities located near Denver. “We are pleased to acquire this high-quality portfolio of seniors housing communities, which has demonstrated strong historical performance,” says Will Milam, head of U.S. investments at MSREI. “As people age, their real estate needs evolve, and as the first baby boomers are turning 80 this year, demand for seniors housing is rising rapidly. We expect this sector to grow nearly 5 percent annually over the next five years as this population cohort expands.” MorningStar will continue to operate the communities on behalf of the new ownership. Funds managed by MSREI currently have an ownership interest in approximately 30 senior living communities comprising 3,000 units across the United States.
DENVER — Redpeak Properties has obtained $33.2 million in agency acquisition financing for Monaco Row, a garden-style apartment property in Denver. Tony Nargi and Eric Tupler of JLL Capital Market’s Debt Advisory team originated the five-year, fixed-rate Fannie Mae loan, which will be serviced by JLL Real Estate Capital. Located at 4665 S. Monaco St., Monaco Row features 196 one- and two-bedroom apartments spread across 16 residential buildings on 8.9 acres. Many units include direct-access garages and offer Rocky Mountain views. Community amenities include a pool, spa, fitness center, resident lounge and pet spa. The property was built in 2013.
CASTLE ROCK, COLO. — McWhinney has purchased Red Hawk Crossings, a build-to-rent townhome property at the Wolfensberger Road and Prairie Hawk Drive intersection in Castle Rock. Terms of the acquisition were not released. Built in 2015, Red Hawk Crossings features 60 three-bedroom/2.5-bath townhomes with direct-access two-car garages. McWhinney plans to implement a renovation program and operational enhancements. Asset Living will provide property management services for the asset.
FORT COLLINS AND WINDSOR, COLO. — Senior Living Investment Brokerage (SLIB) has arranged the sale of a skilled nursing and assisted living portfolio in Colorado. Located in Fort Collins and Windsor, the portfolio totals 445 beds and 269,105 square feet across the buildings. A Chicago-based REIT acquired the portfolio from the local seller. A Utah-based operator will manage the properties on behalf of the new ownership. Vince Viverito, Jason Punzel, Ryan Saul and Jeff Binder of SLIB brokered the transaction on behalf of the seller.
GOLDEN, COLO. — New York-based Integra Real Estate Capital has arranged a $5.4 million loan for the financing of Interplaza West, a 31,675-square-foot retail center located in Golden, approximately 12 miles west of Denver. Russell Kimyagarov of Integra secured the financing through a credit union lender. Petco anchors Interplaza West, which is 90 percent leased. Additional tenants include Adio Health Center and Great Clips.
BRIGHTON AND COLORADO SPRINGS, COLO. — Bespoke Holdings Co. has completed the disposition of a two-property industrial outdoor storage (IOS) portfolio totaling 67,508 square feet in the Denver and Colorado Springs metro areas. Alterra IOS acquired the portfolio for an undisclosed price. Located at 995 N. 5th Ave. in Brighton, the property features a 4,890-square-foot building on a 4.6-acre site with 2.4 percent site coverage. Built in 1982, the steel-constructed facility features a clear height of 14 feet and two drive-in doors. The property was fully leased to a major national equipment rental company at the time of sale. Located at 3240-3250 Astrozon Blvd. in Colorado Springs, the asset spans 62,618 square feet across 6.9 acres with 20.8 percent site coverage. Constructed in 1981 with recent improvements including a 2018 standing-seam metal roof installation, the facility features a clear height of 18 feet, 10 drive-in doors and railroad spur access. The property is fully leased to an established lumber and building materials company. Peter Merrion and Robert Key of JLL Capital Markets represented the seller, while Parker Pearson of Alterra IOS represented the buyer.
AURORA, COLO. — A commingled real estate fund managed by Kennedy Wilson has acquired The Fletcher Southlands, a multifamily property in Aurora, for $94.7 million. Completed in 2021, the three-story community features 320 one-, two-, three- and four-bedroom garden-style apartments with open floor plans. The community offers a low-density living environment, ample parking, a fitness center, pool, dog park and communal game and dining spaces.
DENVER, COLO. — Preleasing has begun at The Parson, a 309-unit high-rise Greystar is developing in Denver’s Golden Triangle neighborhood. The project is slated for completion next year. According to Zillow, monthly asking rents range from $2,055 for a studio to $13,690 for a three-bedroom penthouse. The Parson features 4,100 square feet of retail space. Amenities include a fifth-floor pool with views of the Rocky Mountains, a two-story gym with a sauna and a yoga lawn, concierge services, shared workspaces and an indoor and outdoor dog park. Ziegler Cooper was the architect.
GRAND JUNCTION, COLO. — Malman Real Estate has arranged the acquisition of 1048 Independent Avenue, a 65,568-square-foot flex industrial property in Grand Junction. YuanYuan Li, Fengmei Zou and Independent Estate LLC sold the asset to 1048 Independent LLC for $5.5 million. Michael Kraus and Jake Malman of Malman Real Estate represented the buyer in the off-market transaction.
PARKER, COLO. — Trevey Commercial Real Estate has arranged the sale of Greg’s Auto Repair Building, a 9,104-square-foot freestanding commercial property situated on 0.77 acres at 10310 S. Dransfeldt Road in Parker. Bellagnu Land Holdings LLC (formerly Greg’s Auto Repair) sold the the property to 10310 Dransfeldt LLC for $3.3 million. The new owner plans to lease the building to Crash Champions, which is currently operating a facility in the adjacent building. Mitch Trevey and Nick Beach of Trevey Commercial Real Estate represented the seller, while Scott Churchley of Cresa represented the buyer in the transaction.
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