Colorado

Castle Lanterra Acquires 201-Unit Apartment Building in Metro Denver

by Amy Works April 23, 2018

LAKEWOOD, COLO. – New York-based Castle Lanterra Properties has purchased The Ranch at Bear Creek, a multifamily property located at 3324 S. Field St. in Lakewood, about seven miles southwest of Denver. The acquisition price and name of the seller were not released. Built in 1973, the property features 118 two- and three-bedroom townhomes, 54 two-bedroom units and 29 one-bedroom apartments. Community amenities include a remodeled clubhouse, newly constructed fitness center, two swimming pools, a business center, a spin and yoga room with fitness on demand, an outdoor grilling area with new gas grills, an outdoor lounge with gas fire pit and a recreation room.

April 23, 2018

Acquisitions Colorado Loans Multifamily Seniors Housing Western

CBRE Arranges Sale of, Acquisition Financing for, 85-Unit Seniors Housing Community in Suburban Denver

by Amy Works April 23, 2018

LITTLETON, COLO. – CBRE has arranged the sale of MorningStar of Littleton, an 85-unit assisted living and memory care community in the Denver suburb of Littleton. A joint venture between Kayne Anderson Real Estate and MorningStar Senior Living acquired the property from an institutional investor for an undisclosed price. Lisa Widmier of CBRE’s National Senior Housing team represented the seller. Aron Will, also with CBRE National Senior Housing group, arranged $20.5 million in acquisition financing on behalf of the buyers. CBRE Multifamily Capital originated the 10-year, fixed-rate, interest-only loan through Fannie Mae. MorningStar has operated the property since its completion in 2006, and will continue to do so following the acquisition.

April 23, 2018

Acquisitions Colorado Retail Western

Pinnacle Brokers $5M Sale of 8,318 SF Retail Property in Castle Rock, Colorado

by Amy Works April 20, 2018

CASTLE ROCK, COLO. – Pinnacle Real Estate Advisors has arranged the sale of a multi-tenant retail property located at 1341 New Beale St. in Castle Rock. A Colorado-based developer sold the property to a California-based private investor for $5 million, or $601 per square foot, in a 1031 exchange. The newly built property features 8,318 square feet of retail space. At the time of sale, the property was fully occupied by Potbelly Sandwich Shop, Smoothie King, European Wax Center, Fine Nails and Beau Thai.

April 20, 2018

Acquisitions Colorado Multifamily Western

Pinnacle Arranges $6.9M Sale of 22,236 SF Mixed-Use Building in Denver

by Amy Works April 19, 2018

DENVER – Pinnacle Real Estate Advisors has arranged the sale of Zuma Lofts, a mixed-use building located at 3455 W. 38th Ave. in Denver. Zuma Lofts LLC sold the property to RLC Zuma LLC for $6.9 million. The 22,236-square-foot building features 18 multifamily units and two ground-level retail units. Matt Lewallen of Pinnacle represented the buyer and seller in the deal.

April 19, 2018

Colorado Restaurant Retail Western

Chipotle Undertakes Environmental Sustainability Project

by Nellie Day April 10, 2018

DENVER — Chipotle Mexican Grill plans to divert half of all of its restaurant waste from landfills by 2020. Since 2015, the Denver-based fast-casual restaurant chain has made strides toward reducing the amount of food and packaging waste bound for landfills, increasing its diversion rate from 31 percent that year to 40 percent in 2017. To reach this goal, Chipotle and its partners are implementing several best practices to reduce the amount of food waste, adjust services, recycle and compost waste, audit its programs and donate leftover food.

April 10, 2018

Colorado Multifamily Seniors Housing Western

Zocalo Community Development to Open 159-Unit Active Adult Community Near Denver

by Nellie Day April 6, 2018

LITTLETON, COLO. — Zocalo Community Development is preparing to open Vita, a 159-unit active adult community in the Denver suburb of Littleton. KTGY Architecture + Planning designed the community, which is restricted to residents over 55 years of age. The developer is seeking LEED Gold certification. The community features a variety of mixed-use features, including walking/biking trails, art galleries, antique shops, specialty shops, clothing boutiques, restaurants and bars. It is also located one block from an RTD Light Rail station, providing easy access to downtown Denver and the airport. Zocalo, a Denver-based developer, expects to open Vita in May.

April 6, 2018

Colorado Industrial Western

Clarion Partners Buys 3.7 MSF PAULS Nationwide Industrial Portfolio

by Nellie Day April 5, 2018

DENVER — Clarion Partners has purchased a 3.7 million-square-foot industrial portfolio for $200 million. The portfolio is situated in four states. The Denver portion of the portfolio includes more than 1.9 million square feet, marking Denver’s single largest industrial transaction on record, according to Clarion. This portion has been renamed Clarion Gateway. Clarion Gateway includes 14 Class A logistics properties situated in the Airport submarket, the region’s primary distribution corridor. The properties were constructed between 1995 and 2015. They feature ESFR sprinkler systems, dock-high and drive-in loading, and clear heights ranging from 22 ft. to 32 ft. The Denver portfolio is currently 96.5 percent leased. The remainder of the portfolio focuses on supply chain markets, including two Las Vegas properties totaling 698,300 square feet. The buildings are all new Class A construction, built in 2016 or 2017, with low office finishes and clear heights ranging from 32 feet to 36 feet. Tenants across the portfolio span a mix of global, national and local companies, including United Parcel Service, Simmons, M S International, Whirlpool, SITCO Lumber and Cardinal Health. The portfolio is diversified by industry with no single tenant occupying more than 13 percent of the total rentable area. CBRE represented …

April 5, 2018

Colorado Multifamily Western

Security Properties Buys 220-Unit Apartment Complex in Colorado Springs for $41M

by Nellie Day April 3, 2018

COLORADO SPRINGS, COLO. — Security Properties has purchased the 220-unit Willows at Printers Park apartment complex in Colorado Springs for $41 million. The community is located at 2205 Willow Tree Grove, two miles east of downtown. Willows at Printers Park contains one- to three-bedroom apartments with well-appointed kitchens, walk-in closets, in-unit full-size washers and dryers, and private patios/balconies. Amenities include a swimming pool, clubhouse with a small kitchen and attached business center, playground, and fire pit gazebo. Security Properties plans to upgrade the property, continuing the unit renovations initiated by prior ownership, adding aesthetic upgrades to the clubhouse and expanding the amenity offerings. Security Properties-affiliate Security Properties Residential will manage the property.

April 3, 2018

Colorado Multifamily Western

Nexus Commercial Facilitates $4.5M Sale of Apartment Building in Denver

by Nellie Day April 2, 2018

DENVER — Nexus Commercial Real Estate has arranged the sale of Glenview Apartments, a multifamily property located at 16300 R. Colfax Ave. in Denver. Odgen Park Town Homes sold the property to 16300 Colfax Avenue Holdco LLC for $4.5 million. Situated on 1.8 acres, the 31,096-square-foot building features 48 apartment units in a mix of one- and two-bedroom layouts. Jason Koch of Nexus represented the seller and buyer in the deal.

April 2, 2018

Acquisitions Colorado Office Restaurant Retail Western

M&J Wilkow, MetLife Buy 1.7 MSF Shopping Center in Metro Denver

by Amy Works March 30, 2018

AURORA, COLO. — M&J Wilkow Ltd., along with MetLife Investment Management, has acquired The Southlands, a retail center located in southeast Aurora. Developed in 2005, the 1.7 million-square-foot complex features retail and office space. Tenants include AMC Theatres, Dick’s Sporting Goods, H&M, Bed Bath & Beyond, Barnes and Noble, Ross Dress for Less, Ulta Beauty and Best Buy. Additionally, the center consists of a traditional power center component, an open-air lifestyle component (known as the Town Center) with fashion, food and entertainment and office space totaling more than 917,000 square feet. Southlands is the third retail center co-owned by M&J Wilkow and MetLife. The name of the seller and acquisition price were not released.

March 30, 2018

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