Colorado

JLL Arranges $14.7M Refinancing for Tennyson Place Apartment Community in Denver

by Amy Works October 16, 2019

DENVER — JLL has secured a $14.7 million loan for the refinancing of Tennyson Place, an apartment community in Northwest Denver’s Berkeley neighborhood. The borrower is Allante Properties and Investments. Brock Yaffe and Josh Simon of JLL Capital Markets arranged the fixed-rate, balance-sheet loan for the borrower. Proceeds were used to refinance an existing loan. Located at 3885 N. Tennyson St., the property features 81 apartments in a mix of studio and one-bedroom units ranging from 365 square feet to 769 square feet. Community amenities include an indoor/outdoor community room, business center, 24-hour fitness center, sky deck, pet spa and garage parking. The property was built in 2017.

October 16, 2019

Acquisitions Colorado Office Western

Broe Real Estate Buys 41,030 SF Office Building in Colorado, Plans Medical Office Conversion

by Amy Works October 16, 2019

LITTLETON, COLO. — Broe Real Estate Group (BREG), an affiliate of Denver-based The Broe Group, has purchased an office building located on 4.7 acres at 1501 W. Mineral Ave. in Littleton. WorldVenture sold the asset, which was its former headquarters, for an undisclosed price. The property was constructed in 1999. The buyer plans to convert the two-story, 41,030-square-foot building into medical office space. This project is the BREG’s fifth transaction supporting medical office repositioning in the past 12 months, bringing nearly 600,000 square feet of medical office space to market. Jeff Wood and Monica Wiley of CBRE represented the seller in the deal.

October 16, 2019

Acquisitions Colorado Industrial Western

Pinnacle Real Estate Advisors Brokers $11M Sale of Huron Business Center Near Denver

by Amy Works October 14, 2019

NORTHGLENN, COLO. — Pinnacle Real Estate Advisors has arranged the sale of Huron Business Center, an industrial facility in Northglenn, 15 miles north of Denver. An undisclosed seller sold the property for $11 million, or $140.69 per square foot. The name of the buyer was not released. Located at 405-475 W. 115th Ave., the asset features 78,187 square feet of industrial space. Matt Lewallen and Kevin Calame of Pinnacle Real Estate Advisors represented the seller in the deal.

October 14, 2019

Colorado Development Multifamily Student Housing Western

Landmark Properties Developing 780-Bed Student Housing Community Near Colorado State

by Amy Works October 11, 2019

FORT COLLINS, COLO. — Landmark Properties has started construction of The Standard at Fort Collins, a 780-bed community serving students and young professionals near Colorado State University in Fort Collins. The community is set for completion in fall 2020. The property will offer studio, one-, two-, three-, four- and five-bedroom units. Shared amenities will include a rooftop swimming pool, coffee bar, study lounge, private study rooms, a 24-hour fitness center, clubhouse, grilling spaces and outdoor courtyards. Katerra is serving as general contractor for the project.

October 11, 2019

Acquisitions Colorado Retail Western

CIM Group Sells University Center Retail Property in Fort Collins for $23.7M

by Amy Works October 9, 2019

FORT COLLINS, COLO. — CIM Group has completed the sale of University Center, a grocery-anchored retail property located in Fort Collins. An undisclosed buyer acquired the asset for $23.7 million. Built in 1953 and remodeled in 2004, University Center features 68,334 square feet on 6.5 acres. The property is fully leased to two tenants: a natural foods grocery chain and Wilbur’s Total Beverage. The single-story building is attached to the north end of a larger shopping center. Brad Lyons, Mike Winn and Tim Richey of CBRE represented the seller.

October 9, 2019

Colorado Development Multifamily Western

Rooney Properties Opens 176-Unit Timnath Trail at Riverbend Apartments in Colorado

by Amy Works October 8, 2019

TIMNATH, COLO. — Rooney Properties has opened Timnath Trail at Riverbend Apartment Homes, a multifamily property located in Timnath, located between Denver and Fort Collins. The property is the first multifamily development ever built in the city, according to the developer. Timnath Trail at Riverbend features 176 apartments in a mix of garden-style and townhome layouts with a variety of one-, two- and three-bedroom floorplans ranging between 700 square feet and 1,200 square feet. Unit finishes include solid-wood doors, granite countertops, nine-foot ceilings and integrated technologies. Community amenities include a heated swimming pool, whirlpool, bike and ski maintenance facility, outdoor kitchen, bike rentals, car charging stations and fitness center. Denver-based Mission Rock Residential manages the property.

October 8, 2019

Acquisitions Colorado Multifamily Western

Brass Enterprises Sells 328-Unit Multifamily Property in Denver for $99.2M

by Amy Works October 4, 2019

DENVER — Toronto-based Brass Enterprises has completed the sale of Lugano Cherry Creek, an apartment community located at 9601 E. Iliff Ave. in Denver. Minneapolis-based IRET acquired the property for $99.2 million, or $302,591 per unit. Built in 2010, the five-story asset features 328 apartments and 13,262 square feet of retail space. Units feature spacious floor plans, at least nine-foot ceilings, a patio or balcony on every unit, and select loft units. Community amenities include an outdoor resort-style swimming pool and spa with heated deck, 24-hour fitness center, 4.5-acre private park, outdoor lounge with fire pit and two structured parking garages. Terrance Hunt and Shane Ozment of Newmark Knight Frank represented the seller in the deal. The buyer, IRET, is a listed REIT with more than $1.8 billion in multifamily assets across the Midwest.

October 4, 2019

Acquisitions Colorado Multifamily Western

Nexus Commercial Arranges $3.7M Sale of Silver Leaf Apartments in Metro Denver

by Amy Works October 2, 2019

LITTLETON, COLO. — Nexus Commercial Realty has arranged the sale of Silver Leaf Apartments, a 22-unit multifamily property located in 5635 S. Bannock St. in Littleton. An undisclosed buyer acquired the asset for $3.7 million. The newly renovated asset features 12 two-bedroom apartments, six one-bedroom units and four studio apartments. The buyer plans to integrate the property into its existing Littleton portfolio and increase rents as the units turn. Brandon Kaufman and Nik MacCarter of Nexus Commercial Realty represented the undisclosed seller and buyer in the deal.

October 2, 2019

Colorado Development Multifamily Western

Pollack Shores Real Estate to Develop 201-Unit Multifamily Property in Boulder, Colorado

by Amy Works October 1, 2019

BOULDER, COLO. — Pollack Shores Real Estate Group has acquired an 8.55-acre land parcel, located at 4750 Broadway in Boulder, for an undisclosed price. The fully entitled, shovel-ready development site was formerly the Colorado National Guard headquarters. Pollack Shores plans to develop The Armory Boulder, a 201-unit market-rate apartment and townhome community, on the site by 2021. Matrix Residential, a Pollack Shores company, will manage the property. The Armory Boulder will be Pollack Shores’ first development in the Boulder market. Chris Cowan and John Jugl Jr. of Newmark Knight Frank represented the joint sellers, Bruce Dierking of Armory Community LLC and Jim Loftus of Loftus Development, in the transaction.

October 1, 2019

Acquisitions Colorado Multifamily Western

Heitman Purchases 161-Unit Multifamily Community in Boulder, Colorado

by Amy Works September 30, 2019

BOULDER, COLO. — Heitman has purchased The Boulders, an apartment community located at 2850 Kalmia Ave. in Boulder. Broadshore Capital Partners sold the asset for an undisclosed price. Shane Ozment, Terrance Hunt, Justin Hunt and Andy Hellman of Newmark Knight Frank Multifamily represented the seller in the deal. Constructed in 1993, The Boulders features 161 apartments and offers access to the city’s 155-mile trail system. The buyer plans to renovate the property’s units to stay competitive in the market.

September 30, 2019

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