Colorado

Pinnacle Real Estate Arranges $1.2M Acquisition of Single-Tenant Retail Property in Colorado

by Amy Works August 27, 2018

CAÑON CITY, COLO. — Pinnacle Real Estate Advisors has brokered the acquisition of a retail property located at 2765 E. Main St. in Cañon City. An undisclosed buyer purchased the property for $1.2 million, or $56.82 per square foot. Zach Wright, Rob Edwards and Tom Ethington of Pinnacle’s The Edwards | Enthington Team represented the buyer, while Jeffrey Hirschfield of Antonoff & Co. Brokerage represented the undisclosed seller in the deal. Office Depot occupies the 20,679-square-foot building, which was built in 2007 on 1.76 acres.

August 27, 2018

Acquisitions Colorado Multifamily Western

ARA Newmark Brokers $7.6M Sale of Apartment Property in Boulder

by Amy Works August 22, 2018

BOULDER, COLO. — ARA Newmark has arranged the sale of 2037 Walnut, a multifamily asset located one block from Pearl Street in Boulder. An undisclosed buyer acquired the property from Boulder-based Element Properties for $7.6 million. Constructed in 1981 and renovated in 2014, the property features 26 one-bedroom units, averaging 400 square feet, with private patios. Recent renovations included new kitchens and bathrooms, stainless steel appliances, engineering hardwood floors and energy-efficient appliances. Andy Hellman and Justin Hunt of ARA Newmark represented the seller in the transaction.

August 22, 2018

Acquisitions Colorado Retail Western

Quantum Real Estate Arranges $1.2M Sale of Retail Building in Gunnison, Colorado

by Amy Works August 22, 2018

GUNNISON, COLO. — Quantum Real Estate Advisors has arranged the sale of a multi-tenant retail building located at 720-730 N. Main St. in Gunnison. A Crested Butte, Colo.-based individual investor acquired the property for $1.2 million. At the time of sale, the 8,848-square-foot property was fully occupied by a variety of tenants, including Domino’s and Verizon. Zack Hilgendorf of Quantum Real Estate represented the seller, a Phoenix-based individual investor, in the transaction.

August 22, 2018

Colorado Development Multifamily Western

Origin Investments, SEEC Enterprises to Develop 150-Unit Brick Stone Apartments in Denver

by Amy Works August 16, 2018

DENVER — Chicago-based Origin Development has partnered with Boulder-based SEEC Enterprises to develop Brick Stone Apartments on 56th Street, a garden-style multifamily development in a burgeoning corridor of Denver. Situated on 5.5 acres, the $35 million Brick Stone Apartments will comprise seven three-story buildings, a clubhouse and a pool house. The 150-unit community will feature 42 one-bedroom/one-bath units, averaging 735 square feet; 78 two-bedroom/two-bath units, averaging 1,035 square feet; and 30 three-bedroom/two-bath units, averaging approximately 1,350 square feet. In-unit amenities will include stainless steel appliances, in-unit washer and dryer, designer cabinets, walk-in closets and high-speed connectivity. Community amenities will include a fitness center, swimming pool, and entertainment features such as dog and bike wash stations and direct access to the First Creek trail. Brick Stone Apartments is expected to be delivered in phases beginning in the second quarter of 2019.

August 16, 2018

Acquisitions Colorado Multifamily Western

Pinnacle Real Estate Negotiates $2.8M Sale of Multifamily Property Near Denver

by Amy Works August 16, 2018

WHEAT RIDGE, COLO. — Pinnacle Real Estate Advisors has arranged the sale of a multifamily property located at 6050-6054 W. 38th Ave. in Wheat Ridge, a western suburb of Denver. A local buyer acquired the asset for $2.8 million, or $149.55 per square foot. The asset includes a 19-unit multifamily building and 27 garages/storage units. Josh Newell of Pinnacle Real Estate represented the buyer and undisclosed seller in the deal.

August 16, 2018

Acquisitions Colorado Mixed-Use Office Retail Western

NavPoint Real Estate Negotiates $6.5M Sale of Mixed-Use Property in Boulder

by Amy Works August 15, 2018

BOULDER, COLO. — NavPoint Real Estate Group has arranged the sale of a multi-tenant retail/medical office property located at 3280-3300 28th St. in Boulder. REM Investment sold the property to Peterman Properties for $6.5 million. The property features 39,368 square feet of retail and medical office space. John Witt and Matt Call of NavPoint Real Estate Group represented the seller in the deal.

August 15, 2018

Colorado Loans Multifamily Western

FMF Littleton Receives $63M Refinancing for 385-Unit Apartment Community in Metro Denver

by Amy Works August 10, 2018

LITTLETON, COLO. — FMF Littleton has received $63 million in financing for HiLine at Littleton Commons, a multifamily property located within the Highlands Ranch/Lone Tree submarket of Littleton, south of Denver. Josh Simon of HFF secured a five-year, 4.15 percent fixed-rate loan through a life company lender for the borrower. Loan proceeds were used to recapitalize the property and refinance existing construction financing. The loan features a full-term interest-only period, with flexible prepayment and the ability to advance future loan proceeds at a future date. Completed in 2016, the property features 385 units in a mix of one-, two- and three-bedroom units and 620 parking spaces, including attached and detached garages. Community amenities include an outdoor pool, hot tub, tanning deck with cabanas, outdoor kitchen and grilling area, 24-hour fitness center, clubhouse, billiards table, business center and dog park with dog wash station.

August 10, 2018

Colorado Loans Office Western

FM Capital Originates $5.4M Loan for 280,000 SF Office Complex in Colorado Springs

by Amy Works August 10, 2018

COLORADO SPRINGS, COLO. — FM Capital has secured a $5.4 million bridge loan for an office complex located in Colorado Springs. The undisclosed borrower purchased the asset through the Ten-X platform. FM Capital originated the loan within seven days of acquisition. At the time of sale, the 280,000-square-foot asset was home to two Fortune 500 company call centers.

August 10, 2018

Acquisitions Colorado Multifamily Western

Oak Coast Properties, BMC Investments Buy St. Mortiz Apartments in Metro Denver for $78M

by Amy Works August 9, 2018

LAKEWOOD, COLO. — Oak Coast Properties and BMC Investments have acquired St. Mortiz Apartments, a multifamily property located adjacent to the Colfax Retail Corridor in Lakewood, a suburb of Denver. The partnership acquired the property for $78 million. Built in 1986, St. Mortiz Apartments features 360 units, a dog park, pool and spa, gas fire pits, fitness center, basketball court, putting green and business center. The buyers plan to renovate the community, including the common areas and amenities. BLDG Management will manage the property. Charles Halladay, Brock Yaffe and Rick Salinas of HFF’s debt placement team assisted in securing a $55 million acquisition loan for the buyers through Freddie Mac’s CME Program. Shane Ozment of ARA Newmark in Denver represented the buyers in the deal.

August 9, 2018

Colorado Development Retail Western

Kimco Unveils $14.5 Million Redevelopment Plans for Village on the Park in Colorado

by Amy Works August 9, 2018

AURORA, COLO. — Kimco Realty Corp. has unveiled plans for its $14.5 million redevelopment of Village on the Park, a 179,862-square-foot shopping center in Aurora. As part of the redevelopment, Kimco will demolish and reconstruct the four currently vacant retail spaces located south of Ross Dress for Less. The company has signed a lease with Old Navy to occupy a 13,800-square-foot space in the new section. America’s Best Contacts & Eyeglasses will fill a 3,515-square-foot space located on the pad adjacent to TJ Maxx. Kimco will break ground on the redevelopment this fall, with completion scheduled for summer 2019. America’s Best Contacts & Eyeglasses is expected to open this year.

August 9, 2018

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