Colorado

Thompson Thrift Divests of Citadel at Castle Pines Multifamily Property Near Denver

by Amy Works November 19, 2024

CASTLE PINES, CALIF. — Thompson Thrift has completed the disposition of Citadel at Castle Pines, a 214-unit apartment community in the Denver suburb of Castle Pines. Terms of the transaction were not released. Matt Barnett, Jake Young and Taylor Payne of Walker & Dunlop brokered the sale. Located at 353 Edge View Circle, Citadel at Castle Pines features 154 one- and two-story paired villa-style homes and 60 three-story townhomes. Completed in December 2023, the one-, two-, three- and four-bedroom apartments include designer interiors, quartz countertops, stainless steel and energy-efficient appliances, attached garages and full-size washers/dryers. Community amenities include a resident social lounge, pickleball courts, a 24/7 fully equipped fitness center, resort-style pool and spa, poolside cabanas and grills, a dog park and dog spa.

November 19, 2024

Acquisitions Colorado Hospitality Western

Marcus & Millichap Negotiates Sale of 94-Room Extended-Stay Hotel in Westminster, Colorado

by Amy Works November 18, 2024

WESTMINSTER, COLO. — Marcus & Millichap has negotiated the sale of Residence Inn by Marriott Denver North Westminster, Colorado in Westminster, a suburb 12 miles north of Denver. Dallas-based NewcrestImage sold the extended-stay hotel to Archer Capital Group for an undisclosed price. Chris Gomes of Marcus & Millichap represented the seller. Gomes, along with Allan Miller and Christy McDougall of Marcus & Millichap, procured the buyer. Adam Lewis is Marcus & Millichap’s broker of record in Colorado. Located at 5010 W. 88th Place, the four-story Residence Inn by Marriott offers 94 extended-stay suites with kitchens, separate living areas and modern amenities.

November 18, 2024

Colorado Loans Multifamily Oregon Western

BWE Arranges $260M Loan for Refinancing of National Multifamily Portfolio

by Kristin Harlow November 14, 2024

DENVER AND BEAVERTON, ORE. — BWE, the commercial finance firm formerly known as Bellwether Enterprise Real Estate Capital, has arranged a $260 million loan for the refinancing of a national portfolio of six multifamily properties totaling roughly 1,500 units. Two of the properties — Hartley Flats and Studio LoHi — are located in Denver, and a third, Victory Flats, is located in Beaverton, Ore. The other properties in the portfolio are in Austin and Charlotte. All properties were constructed within the past decade, and the portfolio had an occupancy rate of approximately 95 percent at the time of the loan closing. Northwestern Mutual provided the five-year loan, which was structured with a 5.07 percent interest rate, full-term interest-only payments and a 55 percent loan-to-value ratio. The borrower was not disclosed.

November 14, 2024

Acquisitions Colorado Loans Retail Western

KPR Centers Receives $33.9M in Financing to Acquire University Hills Retail Center in Denver

by Amy Works November 14, 2024

DENVER — KPR Centers has received $33.9 million in financing for the acquisition of University Hills, a grocery-anchored shopping center in Denver. The name of the seller and final sales price were not released. Sunny Sajnani and Travis Headapohl of Institutional Property Advisors (IPA) Capital Markets arranged the five-year life company financing, which includes fixed-rate, full-term interest-only payments and prepayment open at par for the last year. Tom Lagos of IPA retail investment sales procured the buyer in the sales transaction. At the time of sale, University Hills was fully occupied. Tenants include King Soopers, Michaels, Marshalls, Office Depot and Ulta.

November 14, 2024

1375-Interquest-Pkwy-Colorado-Springs-CO

Acquisitions Colorado Net Lease Restaurant Retail Western

RBR Interquest Sells Fuzzy’s Taco Shop-Occupied Restaurant Property in Colorado Springs for $3.5M

by Amy Works November 13, 2024

COLORADO SPRINGS, COLO. — RBR Interquest R E LLC has completed the sale of a restaurant property at 1375 Interquest Parkway in Colorado Springs to Patterson Living Trust for $3.5 million, or $678 per square foot. Jared Goodman, Anne Spry, Aki Palmer and Cole VanMeveren of Cushman & Wakefield represented the seller in the deal. Fuzzy’s Taco Shop, a fast-casual restaurant serving Baja-style Mexican food, occupies the 5,160-square-foot property on a triple-net lease basis. Situated on 1.5 acres, the property features a large patio and 60 parking spaces.

November 13, 2024

Acquisitions Colorado Industrial Western

Malman Commercial Real Estate Negotiates $4.5M Sale of Industrial Building in Denver

by Amy Works November 11, 2024

DENVER — Malman Commercial Real Estate has arranged the sale of 4600 Ironton Street, an industrial property in Denver. GS Ironton LLC sold the asset to Aspen Ironton LLC for $4.5 million. The property offers 37,636 square feet of industrial space. Jake Malman and Dan Prevedel of Malman Commercial Real Estate represented the seller, while Taylor Roy, also with Malman, represented the buyer in the deal.

November 11, 2024

Acquisitions Colorado Restaurant Retail Western

Quantum Directs $1.8M Sale of Starbucks-Occupied Retail Property in Lakewood, Colorado

by Amy Works November 11, 2024

LAKEWOOD, COLO. — Quantum Real Estate Advisors has arranged the sale of a freestanding retail building in Lakewood. A West Coast-based private trust sold the asset to a West Coast-based family for $1.8 million. Starbucks Coffee occupies the property, which was sold for 100 percent of list price. Nick Hilgendorf and Zack Hilgendorf of Quantum Real Estate Advisors represented the seller, while Matt Lipson of Northmarq represented the buyer in the transaction.

November 11, 2024

Acquisitions Colorado Industrial Western

Tepuy Properties Buys Glass Recycling Facility in Broomfield, Colorado for $4.7M

by Amy Works November 6, 2024

BROOMFIELD, COLO. — Tepuy Properties has acquired an industrial facility located at 11331 Dillon Road in Broomfield for $4.7 million. Jaime Pletcher of Gibbons White represented the buyer, while Matthew Trone of Cushman & Wakefield represented the undisclosed seller in the deal. Glass to Glass Denver, a subsidiary of Owens-Illinois, occupies the 27,116-square-foot glass recycling facility. The tenant specializes in transforming post-consumer glass into high-quality, reusable glass for manufacturers. The company processes a variety of glass materials, including bottles, jars and containers, for reuse in manufacturing new glass products. Built in 1973, the facility is located off Highway 287 and E-470, providing direct access to Denver International Airport.

November 6, 2024

Acquisitions Colorado Multifamily Western

Global Investment Manager Sells 302-Unit One City Block Apartment Community in Uptown Denver

by Amy Works November 5, 2024

DENVER — A global investment manager has completed the disposition of One City Block, a multifamily property in Denver’s Uptown neighborhood. InterCapital Group and Pamera North America acquired the asset for an undisclosed price. Built in 2013, One City Block offers 302 apartments spread across four four-story buildings, as well as a lap pool, private courtyard, fitness center, yoga studio, four rooftop decks, lounges and 10,000 square feet of ground-floor retail space. Shane Ozment, Terrance Hunt, Chris Hart and Brad Schlafer of CBRE represented the seller, while Cord Ernst provided in-house representation for Pamera North America in the deal.

November 5, 2024

Acquisitions Colorado Multifamily Western

Pinnacle Real Estate Advisors Directs $13.5M Sale of Willowbrook Crossing Multifamily Community in Westminster, Colorado

by Amy Works November 5, 2024

WESTMINSTER, COLO. — Pinnacle Real Estate Advisors has brokered the sale of Willowbrook Crossing, an apartment property in Westminster. The asset traded for $13.5 million, or $142,105 per unit. Willowbrook Crossing features 95 studio and one-bedroom apartments. Josh Newell and Jake Waxter of The Newell Team at Pinnacle Real Estate Advisors represented the undisclosed seller and the undisclosed buyer in the deal.

November 5, 2024

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