REBusinessOnline

Marcus & Millichap Brokers $8.3M Sale of Seniors Housing Community in Lakewood, Colorado

LAKEWOOD, COLO. — Marcus & Millichap has arranged the sale of The Homestead at Lakewood, a seniors housing property located at 2121 Wadsworth Blvd. in Lakewood. An undisclosed buyer acquired the property for $8.3 million.Greg Parker and Greg Price of Marcus & Millichap’s Denver office represented the seller, a private investor, in the deal. Phillip Gause of Marcus & Millichap Capital Corp. arranged acquisition financing for the buyer.Constructed in 1999 under the …

Acquisitions, Colorado, Multifamily, Seniors Housing, Western

Brickstone Partners Acquires Two Student Housing Communities Near Colorado State University for $81M

FORT COLLINS, COLO. — Brickstone Partners has acquired two student housing communities near the Colorado State University campus in Fort Collins for $81 million. The 288-unit portfolio includes Landmark and Stone Creek apartment properties.The new ownership is set to begin comprehensive upgrades on the properties, which will include modernizing units with the addition of new flooring, kitchen and bathroom cabinets, quartz countertops, stainless steel appliances, upgraded doors, lighting …

Acquisitions, Colorado, Multifamily, Student Housing, Western

McWhinney, PGIM to Break Ground on FoundryLine Multifamily High-Rise in Denver

DENVER — A joint venture between McWhinney and PGIM Real Estate will break ground this month on FoundryLine, an apartment community in Denver. Completion of the 17-story project is slated for mid-2023.Situated in Denver’s River North Arts District, FoundryLine will feature 348 apartments ranging from studio units to three-bedroom layouts and top-floor penthouses, with 30 units dedicated as attainable homes for qualifying residents who meet City of Denver income requirements.Located …

Colorado, Development, Multifamily, Western

Marcus & Millichap Arranges $5.1M Sale of Pecos Square Retail Property in Denver

DENVER — Marcus & Millichap has arranged the sale of Pecos Square, a multi-tenant retail property located at 1777 and 1717 W. 38th Ave. in Denver. A private investor acquired the asset from a private partnership for $5.1 million.Built in 1988, Pecos Square features 10,729 square feet of retail space and was 100 percent occupied at the time of sale. The property consists of 81 percent corporate leases with an average occupancy of 18 years. The asset also features a standalone Burger …

Acquisitions, Colorado, Restaurant, Retail, Western

Watermark Residential Sells For-Rent Townhome Community Near Denver to RedPeak for $33.5M

AURORA, COLO. — Watermark Residential, a wholly owned affiliate of Indianapolis-based Thompson Thrift, has completed the disposition of The Townhomes at Dayton Station, a leased townhome community in Aurora. RedPeak acquired the asset for $33.5 million.Located at 3899 S. Dallas St., the property features 12 three-story buildings offering a total of 63 townhomes for renters. Each private-entry townhome features a three- or four-bedroom layout, two-car garage, ample storage, gourmet …

Acquisitions, Colorado, Multifamily, Western

Capstone Negotiates $8M Acquisition of Sherman Commons Multifamily Property in Denver

DENVER — Capstone has brokered the sale of Sherman Commons, a 35-unit apartment community located at 10 S. Sherman St. in Denver’s West Washington Park neighborhood. An undisclosed buyer acquired the asset from an undisclosed seller for $8 million.The property offers a studio unit, 24 one-bedroom units and 10 two-bedroom units, as well as 34 off-street tenant parking spaces. This year, the building underwent renovations including new windows, stairs and landings.Brandon Kaufman and …

Acquisitions, Colorado, Multifamily, Western

Marcus & Millichap Brokers $3.9M Sale of Rodeway Inn in Evans, Colorado

EVANS, COLO. — Marcus & Millichap has brokered the sale of a Rodeway Inn hotel location at 3015 Eighth Ave. in Evans.Neville Rustomjee of Marcus & Millichap’s Denver office represented the seller, a limited liability company, and secured and assisted the buyer, also a limited liability company.Rodeway Inn features 96 guest rooms in an exterior corridor configuration. The buyer will implement a franchise property improvement plan and additional improvements to the

Acquisitions, Colorado, Hospitality, Western

KeyBank Provides $18.4M in Financing for Mixed-Income Multifamily Property in Colorado Springs

COLORADO SPRINGS, COLO. — KeyBank Community Development Lending and Investment (CDLI) has provided an $18.4 million bridge loan to TWG for the renovation and update of an apartment community in Colorado Springs.Built in 2003, Rosemont on Shadow Mountain features 144 mixed-income units, with 86 rent-restricted apartments and 58 market-rate units, spread across seven three-story, garden-style buildings. TWG plans to update the units, while preserving the affordability of the property. Once …

Affordable Housing, Colorado, Loans, Multifamily, Western

John Buck Co., Element Properties Break Ground on 86-Unit Apartment Community in Boulder

BOULDER, COLO. — Chicago-based The John Buck Co. and Boulder-based Element Properties have broken ground for Platform, a multifamily property within S’PARK, a 6.8-acre mixed-use, mixed-income multifamily development in Boulder.Situated on 1.2 acres at 3350 Bluff St., Platform will feature 86 apartments in a mix of studio, one-, two- and three-bedroom apartments, as well as ground-level retail space. Residents of Platform will also be able to use the amenities of Timber, a sister …

Colorado, Development, Multifamily, Western

Mill Creek Residential Sells 197-Unit Modera Cap Hill Apartments in Denver

DENVER — Mill Creek Residential has completed the disposition of Modera Cap Hill, a multifamily property located in Denver’s Capitol Hill neighborhood. The name of the buyer and acquisition price were not released.Located at 1200 Grant St., Modera Cap Hill feature 197 studio, one- and two-bedroom floor plans averaging 782 square feet. Units feature private patios or balconies, high ceilings and premium finishes.Community amenities include a fitness studio and yoga room, pet spa, …

Acquisitions, Colorado, Multifamily, Western
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