ENGLEWOOD, COLO. — Newmark Knight Frank has arranged the sale of an industrial property located at 8640 S. Peoria St. Building No. 6 in Englewood, a suburb of Denver. IBC Concord IV LLC sold the 42,720-square-foot asset to Peoria Street Properties LLC for $7 million. Keith Bell, Jason Addlesperger and David Lee of Newmark Knight Frank represented the seller, while CBRE represented the buyer in the transaction.
DENVER — Xenia Hotels & Resorts has purchased The Ritz-Carlton Denver, located at 1811 Curtis St. in downtown Denver, for $100.2 million, approximately $496,000 per key. The acquisition was funded with cash available on the company’s balance sheet. The 14-story hotel features 202 oversized rooms, including 47 suites, 13,000 square feet of meeting space, The Ritz-Carlton Spa and Elway’s Restaurant. The hotel is part of a mixed-use development that includes 25 luxury residences and 193 apartment units. The Ritz-Carlton, Denver is the 39th hotel in Xenia’s portfolio of primarily luxury and upper upscale hotels. It the company’s second Ritz-Carlton hotel.
DENVER — HFF has arranged financing for the development of Solera at Cherry Creek, a Class A seniors housing development in the Cherry Creek neighborhood of Denver. Solera at Cherry Creek will comprise 64 assisted living apartments and 32 memory care units within a three-story building totaling approximately 55,000 rentable square feet. A joint venture between affiliates of Banner Senior, Solera Senior Living and Wheelock Street Capital are developing the property. Rosemann & Associates is designing the community, which is scheduled for completion in 2019. The HFF team representing the borrower included David Fasano, Sarah Anderson and Brock Yaffe. A national bank is providing the nonrecourse loan. The amount of the financing was not disclosed.
GUNNISON, COLO. — Quantum Real Estate Advisors has arranged the sale of a retail property located at 800-810 N. Main St. in Gunnison. An individual investor from Crested Butte, Colo., acquired the multi-tenant building from an Aspen, Colo.-based individual for $1 million. At the time of sale, the 11,700-square-foot property was fully leased to a number of local tenants with long-term occupancy. Zack Hilgendorf of Quantum Real Estate represented the seller in the transaction.
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.
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.
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.
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.
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.
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.