Colorado

Equus Investment Partnership XI to Purchase 150,656 SF Office Building in Metro Denver

by Amy Works June 19, 2018

BROOMFIELD, COLO. — Equus Investment Partnership XI, an equity fund managed by Equus Capital Partners, has received $18.8 million in financing for the purchase of 370 Interlocken Blvd. The 150,656-square-foot, Class A office building is located in Broomfield, a northwest suburb of Denver. Leon McBroom and Eric Tupler of HFF secured the seven-year, fixed-rate loans through Guggenheim Partners for the borrower. Completed in 1998 and renovated in 2017, the six-story building features a two-story lobby with a fireplace, touchscreen directory, WiFi access, a fitness center with showers and lockers, a high-end tenant lounge and a bike storage center. At the time of financing, the property was 94 percent leased to a variety of tenants, including Stantec, CliftonLarsonAllen and New York Life Insurance Co.

June 19, 2018

Acquisitions Colorado Office Western

Pinnacle Brokers $1.3M Sale of Office Property in Aurora, Colorado

by Amy Works June 14, 2018

AURORA, COLO. — Pinnacle Real Estate Advisors has arranged the sale of an office property located at 651 Chambers Road in Aurora. A church acquired the property from Life Skills International for $1.3 million. Built in 1978, the property features 16,500 square feet of office space. Corey Sandberg and Jeff Johnson of Pinnacle represented the seller in the deal.

June 14, 2018

Acquisitions Colorado Retail Western

Pinnacle Real Estate Negotiates $3M Sale of Single-Tenant Retail Property in Denver

by Amy Works June 12, 2018

DENVER — Pinnacle Real Estate Advisors has arranged the sale of a single-tenant retail property located at 1200 W. Alameda Ave. in Denver. A local Colorado buyer acquired the property for $3 million. 7-Eleven occupies the 3,000-square-foot property, which was constructed in 2018, on a net-leased basis. Rob Edwards and Tom Ethington of Pinnacle represented the seller, a Colorado developer, in the deal.

June 12, 2018

Colorado Loans Office Western

HFF Secures Refinancing for 366,184 SF Office Building in Denver

by Amy Works June 1, 2018

DENVER — HFF has arranged refinancing for Stanford Place II, an 18-story Class A office building located in the north end of Denver Technological Center. The borrower is Lowe Enterprises Investors. Eric Tupler of HFF arranged the two-year, floating-rate loan with extension options through a national bridge lender. The loan amount was not disclosed. Completed in 1982, 22 tenants occupy the 366,184-square-foot building, with Western Union as anchor tenant.

June 1, 2018

Colorado Loans Retail Western

Newmark Arranges $43.4M in Financing for 285,000 SF Shopping Center in Colorado

by Amy Works May 31, 2018

LAKEWOOD, COLO. — San Francisco-based Newmark has arranged $43.4 million in financing for Lakewood City Commons, a shopping center located at 7740 W. Alameda Ave. in Lakewood. Mark Ritchie and Jasmine Polson of Newmark arranged the financing for the undisclosed borrower. The 15-year loan, which features a 30-year amortization schedule, was funded through a correspondent life insurance company. Newmark will service the loan. The borrower plans to use the long-term financing to pay off an existing CMBS loan, cover transaction costs and recoup a portion of its equity. At the time of financing, the 285,000-square-foot property was 95 percent occupied. Tenants include Ross Dress for Less, Old Navy, Michaels and King Soopers, a supermarket brand of Kroger.

May 31, 2018

Acquisitions Colorado Multifamily Western

Pinnacle Real Estate Negotiates $7.4M Sale of Multifamily Building in Denver

by Amy Works May 31, 2018

DENVER — Pinnacle Real Estate Advisors has arranged the sale of The Hanford House, a multifamily property located at 809 Dexter St. in Denver. RGD Properties sold the property to an undisclosed buyer for $7.4 million, or $330 per square foot. The building features 22,431 square feet. Kevin Calame of Pinnacle Real Estate represented the seller in the in the transaction.

May 31, 2018

Acquisitions Colorado Multifamily Western

Nexus Commercial Realty Brokers $102.2M Acquisition of Seven-Property Multifamily Portfolio in Colorado Springs

by Amy Works May 25, 2018

COLORADO SPRINGS, COLO. — Nexus Commercial Realty has arranged the acquisition of a multifamily portfolio in Colorado Springs. Denver-based Slipstream Properties purchased the seven-building portfolio from a Colorado Springs-based apartment owner for a total consideration of $102.2 million. Adam Riddle and Jason Koch of Nexus Commercial Realty represented the buyer and seller in the deal. The properties are: Pine Creek Village Apartments, a 312-unit property that sold for $29.2 million. Shannon Glen Apartments, a 192-unit property that sold for $17.8 million. Cedar Creek Club Apartments, a 175-unit community that sold for $14.2 million. El Vecino Apartments, a 174-apartment community that sold for $12.2 million. 162-unit South Pointe Apartments, which sold for $13.3 million. 84-unit Timbers Apartments that sold for $7.3 million. New Horizons Apartments, a 79-unit property that sold for $8 million.

May 25, 2018

Acquisitions Colorado Multifamily Western

Bascom Group Acquires 275-Unit Multifamily Community in Denver for $92.5M

by Amy Works May 25, 2018

DENVER — The Bascom Group has purchased Modera at Observatory Park Apartments, a newly constructed infill apartment community located in Denver, from an undisclosed seller. The price was $92.5 million, or $336,364 per unit. Built in 2017, the property features 275 Class A apartment units. Mill Creek Residential will manage the property. Charles Halladay, Jamie Kline and Brock Yaffe of HFF arranged $66.7 million in acquisition financing through TH Real Estate for the purchase. Tim Shunta of National Realty Advisors brokered the acquisition. Since 2005, Bascom and its affiliates have acquired 30 multifamily properties in the Colorado market, totaling 11,057 units.

May 25, 2018

Acquisitions Colorado Multifamily Seniors Housing Western

Confluent Sells 69,000 SF Seniors Housing Property in Fort Collins to Kayne Anderson

by Amy Works May 22, 2018

FORT COLLINS, COLO. — Confluent Senior Living has sold MorningStar of Fort Collins, an assisted living and memory care community in Fort Collins. Kayne Anderson Real Estate purchased the property for an undisclosed price. Confluent co-developed the project with MorningStar Senior Living, which will stay on as operator following the transaction. The 79-unit, 69,000-square-foot community opened in December 2015.

May 22, 2018

Colorado Development Multifamily Western

Legacy Partners Delivers Phase II of 276-Unit Apartment Development in Metro Denver

by Amy Works May 21, 2018

WESTMINSTER, COLO. — Legacy Partners has delivered the first apartments in the second phase of Legacy on the Promenade in Westminster Promenade. This phase features 37 of the planned 276 apartment homes, averaging 923 square feet. Additionally, this the second phase includes the opening of a permanent leasing office and the completion of the clubhouse amenities, including a two-story fitness center, yoga studio, game room with billiards table, and two conference rooms with laptop television displays. The first phase, which began preleasing last year, includes 24 live/work residences and townhomes starting at more than 1,500 square feet with four distinct floor plans. Each of the two- and three-bedroom apartments consist of three floors and an attached two-car garage. Additional amenities at Legacy on the Promenade will include a garden courtyard, a pool with an outdoor kitchen, resident lounge areas and a business center. Humphreys & Partners Architects provided architectural services for the project.

May 21, 2018

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