DENVER — JLL Capital Markets has arranged the sale of Washington Center, a shopping center located at 812-858 E. 120th Ave. and 11874-11890 Washington St. in Denver. Northglenn LLC sold the property to a local investment firm for $10.3 million. At the time of sale, the 50,445-square-foot center was 92 percent leased with 19 tenants across 21 suites. Current tenants include CSL Plasma, Smashburger, Subway and established local businesses. Jason Schmidt and Austin Snedden of JLL represented the seller in the transaction. Rob Bova of JLL arranged a fixed-rate loan from a bank for the buyer.
Colorado
DENVER — Colliers has directed the sale of Momentum at First Creek, an apartment property located at 5500 Telluride St. in Denver. A local Colorado-based developer sold the asset to a private out-of-state investment firm for $56 million. Completed in 2023, Momentum at First Creek offers 200 apartments, a resort-style pool, an outdoor chef-inspired kitchen with a pizza oven, a fitness center and a clubhouse featuring a game room and collaborative workspaces. Craig Stack, Bill Morkes and Nate Moyer of Colliers represented the seller in the transaction. Colliers Debt and Structured Finance team secured financing for the property on behalf of the buyer.
CBRE Secures $70M Refinancing for 24Fifty at University Park Multifamily Property in Denver
by Amy Works
DENVER — CBRE has arranged a $70 million refinancing for 24Fifty at University Park, a multifamily community in Denver. Brad Zampa, Mike Walker, Brady O’Donnell and Jill Haug of CBRE secured the five-year, floating-rate loan from a national debt fund for the borrower, DivcoWest. Located at 2450 S. University Blvd., 24Fifty features 252 studio, one- and two-bedroom units with modern finishes, stainless steel appliances, quartz countertops and in-unit washers/dryers. Community amenities include a rooftop pool and spa, an indoor lap pool, an outdoor terrace and grilling area, a fitness center, resident lounge and structured parking, as well as fully leased ground-floor retail space. The mid-rise community was built in 2019.
Pinnacle Real Estate Advisors Brokers Sale of 20,034 SF Medical Office Property in Littleton, Colorado
by Amy Works
LITTLETON, COLO. — Pinnacle Real Estate Advisors has arranged the sale of Chatfield Plaza, a medical office property situated within Ken Caryl Business Park in Littleton. The asset traded for $3.2 million. Located at 10789 Bradford Road, the 20,034-square-foot building is home to 10 tenants, abundant parking and upgraded solar paneling on the roof. RC Myles, Eric Shaw and Kianna Starin of Pinnacle Real Estate Advisors represented the seller, while Craig Myles and Joe Owston represented the buyer in the deal. The names of the seller and buyer were not released.
COLORADO SPRINGS, COLO. — CBRE has brokered the $20.5 million sale of the Shops at Dublin Commons, a retail strip center in Colorado Springs. Parker Brown, Matthew Henrichs and Brad Lyons of CBRE represented John Winsor of Olive Real Estate Partners in the transaction. Located at 5925 and 5935 Dublin Blvd., the 34,104-square-foot strip center was built in 2016 and 2018, respectively.
WINDSOR, COLO. — Prospect Station LLC, as part of a 1031 exchange, has completed the sale of a Class A industrial property located at 7365 Greendale Road in Windsor. NMH Greendale LLC acquired the building for $11.2 million in an off-market transaction. Travis Ackerman of Cushman & Wakefield represented the seller, while Standard Commercial’s Ian Ciagstone represented the buyer in the deal. The 39,000-square-foot building features two overhead grade doors, a dock-high door, 20- to 24-foot clear heights, 3-phase 1,200-amp power and a 9,000-square-foot mezzanine. Additionally, the property offers ample parking, efficient circulation, sprinklers throughout and light industrial zoning.
Boulder Group Arranges $5.9M Sale of Caliber Collision-Occupied Retail Property in Denver
by Amy Works
DENVER — The Boulder Group has brokered the acquisition of a single-tenant property located at 18300 E. 66th Ave. in Denver. A Colorado-based 1031 exchange investor acquired the asset from a Northeast-based partnership for $5.9 million. Caliber Collision occupies the 16,785-square-foot property, which was built in 2021, on a long-term, triple-net lease. Caliber Collision is the largest repair company in the United States with more than 1,800 locations across 41 states. Zach Wright and Brandon Wright of The Boulder Group represented the buyer in the deal.
MONUMENT, COLO. — Inland Real Estate Acquisitions has negotiated and closed the purchase of Jackson Creek Senior Living, a 132-unit seniors housing property in Monument, approximately 20 miles north of Colorado Springs. Mark Cosenza of Inland Acquisitions, with assistance from Brett Smith of The Inland Real Estate Group, Law Department, completed the transaction. Constructed in 2017 at 16601 Jackson Creek Parkway, Jackson Creek features 27 independent living, 75 assisted living and 30 memory care units. The community also features a collective dining room with chef-prepared meals, a bistro, library, fitness center, salon, movie theater, complimentary transportation, daily resident safety checks and 24-hour concierge service. Additionally, the property is located 1.5 miles from the Tri-Lakes Health Pavilion and nine miles from UCHealth Memorial Hospital in Colorado Springs. Dial Senior Living will manage the property, which has maintained an average occupancy of 96 percent over the last year.
Granite Capital Group Divests of 105-Unit Multifamily Property in Fort Collins, Colorado
by Amy Works
FORT COLLINS, COLO. — California-based Granite Capital Group has sold Enclave Rigden Farm, a multifamily property in Fort Collins, to Avanti Residential for $40.8 million, or $389,285 per unit. Located at 2758 Iowa Drive, Enclave Ridge Farm features 105 townhome-style apartments with direct access to car garages and private patios. Built in 2007, the property was 95 percent occupied at the time of sale. Robert Bratley, Jack Sanders, Mike Grippi and Pamela Koster of Berkadia represented the seller in the transaction. The Berkadia team also arranged financing for the deal.
Sweet Creek Capital to Develop 70-Unit Rental Townhome Community in Castle Pines, Colorado
by Amy Works
CASTLE PINES, COLO. — Sweet Creek Capital, a newly launched Denver-based real estate investment and development firm, is developing The Peaks at Canyons, a rental townhome property in Castle Pines. The project is being developed in partnership with Oakwood Homes, with construction financing provided by FirstBank, now part of PNC. Slated for completion in late 2027, the community will feature 40 three-bedroom and 30 four-bedroom residences, each with 3.5 bathrooms and a private attached two-car garage. Ranging from 1,410 square feet to 1,760 square feet, the townhomes will feature modern architecture, quartz countertops, vinyl plank flooring, smart home technology, stainless steel appliances and nine-foot ceilings. Community amenities will include The Exchange Coffee House and The Canyon House Kitchen + Cocktails, two community-focused gathering spots providing dining, social space and year-round programming. The project is located within The Canyons master-planned community at the intersection of Canyonside Boulevard and Canyon Forge Drive.
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