REBusinessOnline

Trailbreak Partners Acquires Confluence at Three Springs Apartments in Durango, Colorado for $35.2M

DURANGO, COLO. — Trailbreak Partners, a Denver-based private equity firm, has purchased Confluence at Three Springs Apartments, located at 150 Confluence Ave. in Durango. GF Properties Group sold the asset for $35.2 million.Built in 2016 and 2018, Confluence at Three Springs features 171 units in a mix of one- and two-bedroom apartments and three commercial tenants, including a Mexican restaurant, a yoga studio and a bridal boutique. Community amenities include direct hiking trail access, …

Acquisitions, Colorado, Multifamily, Western

Oak Coast Properties Divests of Pembrooke on the Green Apartments in Denver for $163M

DENVER — Los Angeles-based Oak Coast Properties has completed the disposition of Pembrooke on the Green Apartments, located at 10700 E. Dartmouth Ave. in southeast Denver. An undisclosed buyer acquired the asset for $163 million.The 37-building property features 959 units in a mix of studio, one-bedroom and two-bedroom units, heated swimming pools, a fitness center, soccer field, playground, dog park and two clubhouses. In 2016, Oak Coast originally purchased the community, which was …

Acquisitions, Colorado, Multifamily, Western

Buchanan Street Partners Buys The Vibe Apartments in Fort Collins from Milestone Development Group for $74M

FORT COLLINS, CALIF. — Buchanan Street Partners has purchased The Vibe Apartments, a multifamily community located at the south end of Fort Collins. Milestone Development Group sold the asset for $74 million.Built in 2018 on 10 acres, The Vibe features 276 residences spread across 12 buildings. At the time of sale, the property was 93 percent occupied.Buchanan plans to implement modest operational changes to The Vibe and position it as a stabilized core asset to benefit from the …

Acquisitions, Colorado, Multifamily, Western

Rocky Mountain Industrials Receives Final Approval for 620-Acre, Rail-Served Industrial Park in Colorado

ADAMS COUNTY, COLO. — The Adams County Board of Commissioners has unanimously approved the final development plan for Rocky Mountain Industrials’ Rocky Mountain Rail Park.Situated in unincorporated Adams County, Rocky Mountain Rail Park is planned as a 620-acre, rail-served industrial park at Manila Road and Interstate 70, adjacent to the Colorado Air and Space Port. Construction is slated to start in fourth-quarter 2020 with the ability for buyers to start building in spring

Colorado, Development, Industrial, Western

Bellwether Enterprise Arranges $47.6M Bond Financing for Affordable Housing Project in Colorado

LAKEWOOD, COLO. — Bellwether Enterprise Real Estate Capital has arranged $47.6 million in bond financing for the construction of The Notable, an affordable multifamily property in Lakewood.Anthea Martin of Bellwether Enterprise’s Denver office originated the loan on behalf of the borrower, Zocalo Development. Jim Gillespie and Ilya Weinstein of Bellwether Enterprise’s New York office led the private placement.Located at 730 Simms St., The Notable is a proposed five-story, 218-unit …

Colorado, Development, Loans, Multifamily, Western

Connor Group Acquires 300-Unit Broadstone Lowry Multifamily Community in Denver

DENVER — Dayton, Ohio-based The Connor Group has purchased Broadstone Lowry, an apartment property located at 8505 Lowry Blvd. in Denver. Alliance Residential sold the asset for an undisclosed price.Built in 2019, Broadstone Lowry features 300 apartments with designer kitchens, hardwood-style plank flooring, stainless steel appliances, walk-in closets with built-in shelving, and patios and decks. Community amenities include a resort-style pool, spa, pool-side cabanas, outdoor kitchen and …

Acquisitions, Colorado, Multifamily, Western

Marcus & Millichap Brokers Sale of Bank of the West-Occupied Property in Colorado

SUPERIOR, COLO. — Marcus & Millichap has arranged the sale of a retail property located at 400 Center Drive in Superior. An out-of-state family trust sold the asset to a California-based investor for $2.1 million.Bank of the West occupies the 3,532-square-foot building on an absolute triple-net lease with 2.5 years remaining on the term. Built in 2004, the property is situated on a 0.94-acre lot less than half a mile from U.S. 26.Drew Isaac, Ryan Bowlby and James Rassenfoss of …

Acquisitions, Colorado, Retail, Western

NAI Arranges $2.7M Sale of Retail Asset in Wheat Ridge, Colorado

WHEAT RIDGE, COLO. — NAI Shames Makovsky has negotiated the sale of a retail building located at 9830 W. I-70 Frontage Road South in Wheat Ridge. Lag B’Omer Partnership and Lag B’Omer LLC sold the asset to Going Green LLC for $2.7 million.The property features 19,200 square feet of retail space. Jake Malman and Sandy Feld of NAI Shames Makovsky represented the seller in the

Acquisitions, Colorado, Retail, Western

Mountain View Capital Acquires Volta at Voyager Apartment Community in Colorado Springs for $52.6M

COLORADO SPRINGS, COLO. — Mountain View Capital has acquired Volta at Voyager in Colorado Springs for $52.6 million. The 200-unit apartment community includes a dog park and spa, pool, clubhouse and fitness center. Units range in size from 696 to 1,300 square feet. Mack Nelson and Christopher White of JLL represented the seller, BY Development. Josh Simon and Kristian Lichtenfels of JLL arranged $37.5 million in acquisition financing on behalf of the buyer. A national insurance company …

Acquisitions, Colorado, Multifamily, Western

Trion Properties Acquires 288-Unit Multifamily Community in Suburban Denver for $38M

NORTHGLENN, COLO. — Trion Properties has acquired The View at North Peak in the Denver suburb of Northglenn for $38 million. The 288-unit apartment community marks Trion’s first acquisition in the Denver market. Built in 1970, the property features one- and two-bedroom units with two swimming pools. Trion plans to rebrand the community as View Apartments and make interior and exterior improvements. Craig Stack and Bill Morkes of Colliers International represented both the buyer and the …

Acquisitions, Colorado, Multifamily, Western
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