Colorado

Bascom Group, Axton Group Buy Two Apartment Properties in Colorado Springs for $41.1M

by Amy Works June 18, 2019

COLORADO SPRINGS, COLO. — The Bascom Group, in partnership with an affiliate of The Axton Group, has acquired Summer Grove Apartments and Tanglewood Apartment Homes, two adjacent multifamily communities in Colorado Springs, for a total consideration of $41.1 million. The joint venture purchased the 374-unit Summer Grove Apartments, located at 3802 Half Turn Road, for $31 million, or $82,887 per unit. The 112-unit Tanglewood property, located at 3803 Half Turn Road, cost $10.1 million, or $90,625 per unit. Jake Young of CBRE brokered the transaction, while Brian Eisendrath and Annie Rice, also of CBRE, arranged debt financing with Don Broderick and Erik Frandsen of TCF Bank.

June 18, 2019

Lincoln-Springs-Apts-Colorado-Springs-CO

Acquisitions Colorado Multifamily Western

Pinnacle Real Estate Negotiates $19.5M Sale of Lincoln Springs Apartments in Colorado Springs

by Amy Works June 17, 2019

COLORADO SPRINGS, COLO. — Pinnacle Real Estate Advisors has arranged the sale of Lincoln Springs Apartments, a multifamily property located in Colorado Springs. Monarch REI LLC acquired the property for $19.5 million. Located at 1770 S. Chelton Road, the value-add property features 180 apartment units. Mike Krebsback of Pinnacle Real Estate Advisors represented the buyer in the deal. The name of the seller was not released.

June 17, 2019

Acquisitions Colorado Industrial Net Lease Western

Unique Properties Brokers $4.1M Sale of Industrial Property in Denver

by Amy Works June 12, 2019

DENVER — Unique Properties / TCN Worldwide has negotiated the sale of an industrial asset, located at 6400 Washington St. in Denver. Gibraltar Property Management acquired the property from North Denver Group Co-Tenancy for $4.1 million. Situated on 4.7 acres, the asset consists of a 14,540-square-foot industrial service and rental center. The property features a large storage yard, oversized drive-in doors and a showroom area. At the time of sale, the property was fully leased to United Rentals under an absolute triple-net lease basis. Brett MacDougall and Michael DeSantis of Unique Properties / TCN Worldwide represented the buyer and seller in the transaction.

June 12, 2019

Acquisitions Colorado Retail Western

Pinnacle Real Estate Advisors Arranges $7.2M Acquisition of Arvada West Town Center Retail Asset in Colorado

by Amy Works June 7, 2019

ARVADA, COLO. — Pinnacle Real Estate Advisors has arranged the purchase of The Arvada West Town Center, a retail strip center in Arvada, a suburb roughly 10 miles northwest of Denver. Courtyard on Vine St LLC and William Penn Apartments LLC acquired the asset for $7.2 million to complete a 1031 exchange. The name of the seller was not released. Located at 14455-14715 W. 64th Ave., the property features 40,859 square feet of retail space. Jeff Johnson and Andrew Monette of Pinnacle Real Estate Advisors represented the buyers in the deal.

June 7, 2019

Acquisitions Colorado Industrial Western

CBRE Arranges Sale of Four Industrial Buildings at Airways Business Center in Aurora, Colorado

by Amy Works June 5, 2019

AURORA, COLO. — CBRE has brokered the sale of four buildings at Airways Business Center, a Class A warehouse distribution center in Aurora. EastGroup Properties acquired the asset from Principal Global Investors for an undisclosed price. Built in 2007 and 2008, the four buildings — 2, 4, 5 and 6 — offer a total of 382,137 square feet of industrial space. At the time of sale, a mix of 11 tenants fully occupied the assets. Doug Viseur, Todd Witty, Tyler Carner, Jeremy Ballenger, Jessica Ostermick and Jim Bolt of CBRE’s Denver office represented the seller in the deal.

June 5, 2019

Acquisitions Colorado Industrial Western

Unique Properties Negotiates $12.4M Acquisition of Single-Tenant Industrial Building in Colorado

by Amy Works June 5, 2019

CENTENNIAL, COLO. — Unique Properties has brokered the purchase of a single-tenant industrial building located at 7909 S. Chambers Road in Centennial. Tim Finholm and Sam Leger of Unique Properties represented the undisclosed buyer in the deal. Additional terms of the deal were not released. Constructed in 2018, the 52,000-square-foot industrial building was a build-to-suit for RoadSafe Traffic Systems, a long-term tenant. Situated on 7.9 acres, the property features a large fenced yard.

June 5, 2019

Acquisitions Colorado Office Western

CBRE Arranges $5.8M Sale of Monaco Tower Office Asset in Denver

by Amy Works June 4, 2019

DENVER — CBRE has brokered the sale of Monaco Tower, a Class B, value-add office building in the Glendale submarket of Denver. Benjamin Borgers, a local certified public accountant, acquired the property from an entity managed by Stabilis Capital Management for $5.8 million. Located at 925 S. Niagara St., the six-story, 63,170-square-foot building was built in 1974. At the time of sale, 16 tenants occupied the property. Monica Wiley and Jeff Wood of CBRE’s Denver office represented the seller in the transaction.

June 4, 2019

Colorado Loans Office Western

HFF Arranges $220M in Financing for 40-Story Office Tower in Denver

by Amy Works June 3, 2019

DENVER — HFF has secured $220 million in financing for 1144 15th Street, a 40-story, Class AA office tower in Denver. Eric Tupler of HFF worked on behalf of Hines and its equity partner to arrange a 17-year, fixed-rate permanent loan through a national life insurance company. Completed in 2018, the 673,852-square-foot core office tower features 5,770 square feet of ground-level retail space and 13 stories of parking for a total of 858 parking spaces. Current tenants include Gates Industrial Corp., Optiv Security Inc. and Faegra Baker Daniels. In 2015, HFF arranged construction financing for the project on behalf of Hines.

June 3, 2019

Acquisitions Colorado Multifamily Western

RedPeak Property Acquires 66-Unit Safari Club Apartments in Denver for $16.8M

by Amy Works May 31, 2019

DENVER — RedPeak Property has purchased Safari Club Apartments, a multifamily building in Denver. An undisclosed seller sold the asset for $16.8 million. Located at 990 Logan St., the property features 66 apartments. Marc Lippitt, Scott Shwayder and Justin Herman of Greystone Unique Apartment Group represented the seller in the transaction.

May 31, 2019

Colorado Development Retail Western

Evergreen Devco, City Street Investors Break Ground on The Shops at Beeler Park in Denver

by Amy Works May 30, 2019

DENVER — A joint venture between Evergreen Devco and City Street Investors has broken ground on The Shops at Beeler Park, located at the northwest corner of 56th Avenue and Central Park Boulevard in Denver’s Stapleton neighborhood. Situated on 6.8 acres, The Shops at Beeler Park will feature two multi-tenant buildings and five single-tenant buildings offering a total of 16,500 square feet of retail space. Completion is slated for November. The project team includes Farnsworth Group as architect and Waner Construction Co. as contractor. Evergreen has already sold two pads to Hello Car Wash and Stapleton Endodontics, and plans to sell or lease the remaining portion of the project to other neighborhood service and restaurant pad users. Allen Lampert and Steve Markey of David, Hicks & Lambert Brokerage, along with Pat McHenry of City Street Investors, are handling the leasing for the property.

May 30, 2019

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