Colorado

Faris Lee Negotiates $14.4M Sale of Thornton Town Center in Thornton, Colorado

by Amy Works April 25, 2024

THORNTON, COLO. — Faris Lee Investments has arranged the sale of Thornton Town Center. The retail property is located at the southeast corner of Interstate 25 Freeway and E. 104th Street in Thornton, a suburb north of Denver. A Southern California-based private investor sold the property to a Southern California-based value-add investor for $14.4 million. Thornton Town Center offers 265,181 square feet of retail space. Don MacLellan of Faris Lee Investments represented the seller and procured the buyer in the deal.

April 25, 2024

Acquisitions Colorado Healthcare Western

MedProperties Realty Acquires PAM Health-Occupied Rehab Hospital in Greeley, Colorado

by Amy Works April 22, 2024

GREELEY, COLO. — MedProperties Realty Advisors LLC has acquired a rehab hospital located at 6810 W. 10th St. in Greeley, approximately 50 miles north of Denver. Terms of the acquisition were not released. PAM Health occupies the 51,500-square-foot building, which was completed earlier this year, features 42 in-patient rooms. Capital One and Siemens Financial Services provided debt for the transaction.

April 22, 2024

Acquisitions Colorado Industrial Self-Storage Western

Marcus & Millichap Negotiates Sale of 486-Unit AC Self Storage in Colorado Springs

by Amy Works April 18, 2024

COLORADO SPRINGS, COLO. — The LeClaire-Schlosser Group of Marcus & Millichap has brokered the sale of AC Self Storage, a self-storage facility in Colorado Springs. SmartStop Self Storage REIT acquired the asset from a Southern California-based limited liability company for an undisclosed price. Totaling 77,720 square feet, AC Self Storage consists of 16 single-story buildings comprising 486 non-climate-controlled drive-up units, 105 parking spaces and 30 office spaces. Facility amenities include a leasing office with retail display, security monitoring, perimeter fencing, elevated signage at all ingress/egress point, high-door units, expansion potential and wide-drive aisles. Adam Schlosser and Keith Phillips of The LeClaire-Schlosser Group of Marcus & Millichap represented the buyer and secured the seller in the transaction.

April 18, 2024

Colorado Development Multifamily Seniors Housing Western

MorningStar Senior Living Opens 160-Unit Community in Centennial, Colorado

by Amy Works April 17, 2024

CENTENNIAL, COLO. — MorningStar Senior Living and Edgemark Development have opened MorningStar at Holly Park, a 160-unit seniors housing property in Centennial. Situated on three acres at 6675 S. Holly St., MorningStar at Holly Park offers 85 independent living, 50 assisted living and 25 memory care units in a four-story residential building. Community amenities include an indoor pool, fitness center, therapy center, dining venues, several private courtyards and a rooftop club room and terrace with city and mountain views. The project team includes Rosemann & Associates as architect, JHL Constructors as general contractor and Thoma-Holec Design as interior designer. MorningStar and Edgemark co-developed and co-own the community.

April 17, 2024

Acquisitions Colorado Multifamily Western

Kaufman Hagan Commercial Real Estate Brokers $2.8M Sale of Multifamily Building in Denver

by Amy Works April 15, 2024

DENVER — Kaufman Hagan Commercial Real Estate has arranged the sale of a townhome-style apartment building, located at 1005-1017 W. 14th Ave. in downtown Denver. The property traded for $2.8 million, or $350,000 per unit. The 15,033-square-foot building offers eight apartments. Brandon Kaufman of Kaufman Hagan Commercial Real Estate represented the undisclosed seller and buyer in the deal.

April 15, 2024

Colorado Development Healthcare Mixed-Use Office Retail Western

TM Crowley, NLGCM Plan 23-Acre The Highlands at Thornton Mixed-Use Project in Colorado

by Amy Works April 11, 2024

THORNTON, COLO. — Indianapolis-based TM Crowley & Associates has partnered with Atlanta-based NLG Capital Management (NLGCM), a division of The Net Lease Group, to develop The Highlands at Thornton, a mixed-use property at the northeast intersection of Quebec Street and 136th Avenue in Thornton. Situated on 23 acres, the project will offer more than 101,925 square feet of retail, commercial and medical office space. CVS Caremark will anchor the development. Lisa Vela and Jay Landt of Colliers will handle leasing efforts for the project.

April 11, 2024

Acquisitions Colorado Company News Multifamily New York Northeast Top Stories Western

Blackstone Agrees to Acquire Apartment REIT AIR Communities for $10B, Take Company Private

by Taylor Williams April 8, 2024

NEW YORK CITY AND DENVER — Private equity behemoth Blackstone (NYSE: BX) has agreed to acquire AIR Communities (NYSE: AIRC) for $10 billion in an all-cash deal that would take the Denver-based multifamily REIT private. The deal is expected to close during the third quarter. AIR Communities, which is formally named Apartment Income REIT Corp., owns 76 multifamily properties totaling roughly 27,000 units across 10 states and Washington D.C. The properties are primarily concentrated in coastal markets such as Los Angeles, Miami and Boston. Under the terms of the deal, Blackstone will also assume all of AIR Communities’ outstanding debt. Blackstone also plans to invest more than $400 million to maintain and improve the existing communities in the portfolio. The purchase price of $39.12 per share represents a premium of 25 percent to AIR Communities’ closing share price on April 5, 2024, the last full day of trading prior to the announcement. The price also represents a 25 percent premium to AIR Communities’ weighted average share price over the previous 30 days. “AIR Communities represents the highest quality, large-scale apartment portfolio we have ever acquired and is located in markets where multifamily fundamentals are strong,” says Nadeem Meghji, global co-head …

April 8, 2024

Acquisitions Colorado Industrial Western

Graham Street Realty Sells 144,464 SF Commerce Square Industrial Property in Denver

by Amy Works April 3, 2024

DENVER — Graham Street Realty (GSR), an affiliate of Hamilton Zanze, has completed the disposition of Commerce Square, a light industrial facility located in the Interstate 70 East submarket in Denver. Terms of the transaction were not released. GSR originally purchased Commerce Square in December 2020. The asset comprises 144,464 rentable square feet of shallow-bay light space across two Class B buildings. Commerce Square offers above-standard loading capabilities, front park/rear load orientation, 18-foot clear heights, dock and drive-in loading capabilities and 265 parking spaces. At the time of sale, the property was 96.4 percent leased. Paramount Property Co., an Oakland, Calif.-based GSR affiliate, managed Commerce Square during GSR’s ownership of the asset.

April 3, 2024

Acquisitions Colorado Office Western

Coldwell Banker Brokers $7.3M Acquisition of Office Building in Longmont, Colorado

by Amy Works April 3, 2024

LONGMONT, COLO. — Coldwell Banker Commercial Realty has arranged the sale of an office and research and development building in Longmont, approximately 35 miles north of Denver. Mountain View Fire Protection District acquired the asset from Gunbarrel Properties LLC for $7.3 million. Constructed in 1998, the two-story building features 36,900 square feet of space. The property is located at 6328 Monarch Park Place. Brian Campbell of Coldwell Banker Commercial Realty represented the buyer in the deal.

April 3, 2024

Colorado Development Multifamily Western

Cortland Begins Construction of 294-Unit Cortland Peterson Multifamily Property in Colorado Springs

by Amy Works April 2, 2024

COLORADO SPRINGS, COLO. — Cortland has commenced construction of Cortland Peterson, an apartment community located near Peterson Space Force Base in Colorado Springs. The initial phase of the 294-unit project is slated for completion in summer 2025, with the final phase scheduled for delivery in summer 2026. Consisting of two-, three- and four-story buildings, the community will offer a mix of living options for residents. Units will feature granite countertops and matte black fixtures in the kitchens and bathrooms, smart locks, Nest thermostats and hardwood flooring. Community amenities will include a large courtyard with a pool, cabanas, a hot tub, an outdoor grill and kitchen, a fire pit, fitness center and a leash-free dog park. Additionally, Cortland Peterson will offer a fourth-story sky lounge with a bar and views of Pikes Peak. The project is a joint venture with Promus Realty Properties, Iviron Capital Partners and BMO Bank.

April 2, 2024

Newer Posts

Older Posts