REBusinessOnline

Colorado

Rivendell Global Real Estate Buys Multifamily Community in Boulder for $15.6M

BOULDER, COLO. — Rivendell Global Real Estate has acquired a 26-unit apartment community in Boulder known as 17-Walnut for $15.6 million. The community is situated in the East End corridor of downtown. The sale closed at $654 per square foot, the highest price for a multifamily community within 750 miles of the property, according to ARA Newmark, which represented the seller, Element Properties, in this transaction. Nearby office activity includes Twitter moving into a new..

April 20, 2017

Berkeley Point Capital Provides $250.5M Loan for Acquisition of Multifamily Portfolio in Western Region

WASHINGTON, OREGON, COLORADO AND ARIZONA — Berkeley Point Capital has provided a $250.5 million loan for the acquisition of a multifamily portfolio located in the western United States. Starwood Capital Group acquired the portfolio from Holland Partners. Built between 1985 and 2002, the portfolio comprises 2,136 units across 11 properties in Washington, Oregon, Colorado and Arizona. Berkeley Point Capital used Freddie Mac’s Adjustable-Rate Mortgages (ARM) product to provide the..

April 7, 2017

Boulder Housing Authority Purchases Tantra Lake Apartments for $45.6M

BOULDER, COLO. — The Boulder Housing Authority has acquired the 185-unit Tantra Lake Apartments in Boulder for $45.6 million. The garden-style community is located at 1000 W. Moorhead Circle. Tantra Lake is situated about three miles southeast of downtown Boulder and the University of Colorado Boulder campus. Community amenities include a heated indoor swimming pool, hot tub, outdoor basketball and tennis courts, grilling areas, playground, 24-hour fitness facility, resident lounge,..

April 5, 2017

Westminster Apartment Community Sells for $2.3M

WESTMINSTER, COLO. — A private investor has acquired a 16-unit apartment community in Westminster for $2.3 million. The community is located at 7461 Quitman St. The property contains two buildings with two-bedroom residences. Sevak Keshishian and Lance Krachey of Marcus & Millichap represented the buyer.

April 3, 2017

Ashford Hospitality Prime Acquires Park Hyatt Beaver Creek in Colorado for $145.5M

BEAVER CREEK, COLO. — Ashford Hospitality Prime Inc. (NYSE: AHP) has acquired the 190-room Park Hyatt Beaver Creek Resort & Spa in Beaver Creek, Colo., for $145.5 million. The seller was not disclosed. The property amenities include ski-in and ski-out access; a heated outdoor pool and five outdoor hot tubs beneath a mountain waterfall; an outdoor fire pit; spa; fitness club; and onsite ski rental and boot fitting. The hotel also features 20,000 square feet of flexible indoor and..

April 3, 2017

Tropical Smoothie Cafe Plans Expansion in Colorado

DENVER — Tropical Smoothie Cafe plans for continued development in Colorado, targeting Denver, Colorado Springs and Centennial to expand its presence through franchise growth. Tropical Smoothie currently has three locations in Colorado. Spearheading Tropical Smoothie's expansion throughout Colorado is husband-and-wife team Craig and Dianne LeMieux, area developers for the region. The LeMieuxs purchased area developer rights to the market in April 2016, along with two existing locations in..

March 30, 2017

Pinnacle Arranges $1.9M Sale of 12-Unit Property Near the University of Denver

DENVER — Pinnacle Real Estate Advisors LLC has arranged the $1.9 million sale of a 12-unit housing community located one block from the University of Denver campus. Jeff Johnson and Matt Ritter of Pinnacle represented the undisclosed seller, and Peter Sengelmann and Jeff Johnson of Pinnacle represented the undisclosed buyer in the transaction.

March 30, 2017

Extra Innings: Colorado Rockies Sign $215M, 30-Year Lease at Coors Field

DENVER — The Colorado Rockies baseball club has signed a 30-year lease worth $215 million to continue to play at Coors Field in Denver. The Major League Baseball (MLB) team’s existing 22-year lease at the 50,480-seat ballpark was set to expire today. The Rockies signed the new lease deal with the owner of Coors Field, the Denver Metropolitan Major League Baseball Stadium District, a regional agency that comprises seven Denver-area counties. “In addition to successfully meeting the..

March 30, 2017

Boulder Community Health Buys 6.1 Acres in Colorado to Build 40,000 SF Medical Office

ERIE, COLO. — Boulder Community Health has acquired 6.1 acres of land located at the northwest corner of Erie Parkway and South Briggs Street in Erie. The price was not disclosed. The group plans to build a 40,000-square-foot medical office building on the site, complete with an urgent care facility. Construction is set to begin late this year, with completion in the fourth quarter of 2018. The property sits adjacent to Erie Community Park and the Erie Community Center, along the main..

March 29, 2017

Griffis Residential Obtains $81.9M Acquisition Loan for Skye 2905 Urban Flats in Denver

DENVER — Griffis Residential has obtained an $81.9M acquisition loan to purchase the 400-unit Skye 2905 Urban Flats apartment community in Denver. The property is situated across from 20th Street from the Union Station neighborhood. The property was formerly named Skye 2905. HFF’s Eric Tupler and Josh Simon represented the borrower to place the 10-year, 3.98-percent, fixed-rate loan with five years of interest-only payments. A correspondent life insurance company provided the..

March 28, 2017