Colorado

Continuum Partners Receives $110M Refinancing for Mixed-Use Project in Downtown Denver

by Amy Works October 12, 2018

DENVER — Denver-based Continuum Partners has received $110 million in financing for A Block, a mixed-use development located in downtown Denver. The 310,055-square-foot project features the 200-key Kimpton Hotel Born, located at 1600 Wewatta St., and a 54,976-square-foot Class A office building with ground-level retail space and a 197-space parking garage, located at 1881 16th St. Completed in 2017, A Block has two separate components: the 12-story Hotel Born and the five-story office and retail portion. The hotel features 13,937 square feet of flexible meeting space, a fitness center, business center, ground-floor retail space and two food and beverage options, Citizen Rail Restaurant in the hotel lobby and Tavernetta. The fully occupied office building features 7,929 square feet of retail space leased to national tenants. Eric Tupler, Leon McBroom and Tyler Dumon of HFF arranged the floating-rate loan with a national bank. Loan proceeds will be used to retire the existing construction financing, which was placed by HFF in 2015.

October 12, 2018

Acquisitions Colorado Industrial Western

Newmark Knight Frank Arranges $29M Sale of Office Property in Broomfield, Colorado

by Amy Works October 12, 2018

BROOMFIELD, COLO. — Newmark Knight Frank has brokered the sale of an office building located at 370 Interlocken Blvd. in Broomfield. RREF III-P Interlocken LLC sold the property to IPXI Interlocken Investors LLC for $29 million. The property features 150,656 square feet of office space. John Jugl and Paul Donahue of Newmark Knight Frank represented the seller, while CBRE represented the buyer in the deal.

October 12, 2018

Colorado Development Retail Western

Confluent Development Nears Completion of Multi-Tenant Retail Center in Colorado Springs

by Amy Works October 11, 2018

COLORADO SPRINGS, COLO. — Confluent Development is nearing completion of an 8,265-square-foot, multi-tenant retail center in Colorado Springs. The property will be home to a 3,800-square-foot Snooze: an A.M. Eatery restaurant and a 1,491-square-foot Bishops Cuts/Color barbershop. Both locations are set to open in early 2019. The project is designed to also house a third future retailer in the remaining 3,000 square feet of space. Studio DH Architecture served as the architect on the project and Epic Construction as the general contractor.

October 11, 2018

Colorado Loans Mixed-Use Multifamily Retail Western

HFF Arranges $50M in Financing for Mixed-Use Development in Denver

by Amy Works October 10, 2018

DENVER — HFF has arranged $50 million in financing for 210 St. Paul, the first phase of The St. Paul Collection, a mixed-use residential and retail property in Denver’s Cherry Creek North neighborhood. The borrower is BMC Investments. Brock Yaffe of HFF secured the 11-year, non-recourse, full-term, interest-only, fixed-rate loan through Freddie Mac’s Lease-Up Loan Program. The loan will replace existing construction financing and will be serviced by HFF, a Freddie Mac Multifamily Approved Seller/Servicer for Conventional Loans. Located at the intersection of St. Paul Street and Second Avenue, The St. Paul Collection is a two-phase development. Completed in June, 210 St. Paul features 81 residences in a mix of one-, two- and three-bedroom floorplans, as well as penthouses, ranging in size from 770 square feet to 2,800 square feet. Additionally, the property includes 11,000 square feet of retail space leased to CB2. The second phase, which is not part of this financing, will bring an additional 84 residential units and 44,000 square feet of retail space. Designed by 4240 Architecture, the property features condo-quality finishes and modern open layouts with oversized living spaces, gourmet kitchens, full bathroom suites with heated floors, built-in closet systems, in-house automation, custom hardwood flooring, …

October 10, 2018

Colorado Development Multifamily Seniors Housing Western

Ridge Senior Living Tops Out $150M Seniors Housing Development in Metro Denver

by Amy Works October 4, 2018

LAKEWOOD, COLO. — The Ridge Senior Living has completed vertical construction of The Ridge at Pinehurst, an 18-acre independent living, assisted living and memory care community in the first-ring Denver suburb of Lakewood. Development costs are estimated at $150 million for the project. When completed, the community will offer 222 independent living units, 96 assisted living units and 42 memory care units. Construction is scheduled for completion in fall 2019. The community will offer residents views of the Rocky Mountains, Marston Lake and downtown Denver, as well as a number of amenities including an on-site health and wellness center. The Ridge partnered with Denver-based companies Shaw Construction and Lantz-Boggio Architects to execute the project. The Ridge Senior Living is a developer with two existing communities in the Salt Lake City area. The new development will be its first expansion outside Utah.

October 4, 2018

Acquisitions Colorado Retail Western

NAI Shames Makovsky Brokers Two Retail Property Sales in Metro Denver Totaling $4.5M

by Amy Works September 28, 2018

DENVER AND WHEAT RIDGE, COLO. — NAI Shames Makovsky has arranged the sales of two retail properties located in metro Denver totaling $4.5 million. In the first transaction, Second and Broadway LLC sold a 4,821-square-foot property located at 141 Broadway in Denver. KRF Post LLC acquired the property for $3 million. Sandy Feld and Jake Malman of NAI Shames Makovksy represented both parties in the deal. In the second transaction, All Sacred Holdings LLC purchased a 7,205-square-foot property at 7700 W. 44th Ave. in Wheat Ridge. Patrick Nichols Associates LLC sold the property for $1.5 million. Todd Silverman and Paul Cattin of NAI Shames Makovsky represented the seller in the deal.

September 28, 2018

Acquisitions Colorado Retail Western

Pinnacle Real Estate Brokers $2.7M Sale of Retail Building in Denver

by Amy Works September 26, 2018

DENVER — Pinnacle Real Estate Advisors has arranged the sale of a retail building located at 476 S. Broadway in Denver. An undisclosed buyer acquired the property for $2.7 million, or $114.83 per square foot. Situated in the Washington Park West neighborhood of Denver, the building features 23,513 square feet of retail space. Le Grues Flower and Gifts will continue to occupy the space. Cody Stambaugh of the Stambaugh|Sengelmann Team of Pinnacle Real Estate Advisors assisted the buyer and undisclosed seller in the deal.

September 26, 2018

Acquisitions Colorado Industrial Office Western

Colony Northstar Sells 78,787 SF Office/Warehouse Property in Denver for $7M

by Amy Works September 21, 2018

DENVER — Colony Northstar has completed the sale of an office/warehouse facility located at 1550 W. Evans Ave. in Denver. Calhoun Street Industrial and Matrix Group acquired the property for $7 million. Matrix Group will assume the leasing and management of the property. Situated within the West Evans Industrial Park, the 78,787-square-foot property was built in 1975 and was 93 percent leased at the time of sale. The asset features twin-t construction, 18-foot clear heights and a combination of drive-in loading and dock-high doors. Jason White, Ryan Sitov and Carmon Hicks of JLL Denver negotiated the transaction.

September 21, 2018

Acquisitions Colorado Multifamily Western

Equity Residential Purchases 354-Unit Multifamily Tower in Denver

by Amy Works September 19, 2018

DENVER — Equity Residential has acquired SkyHouse Uptown, a high-rise multifamily community located in Denver. Simpson Housing and Novare Group sold the property for an undisclosed price. David Martin, Pamela Koster and Mike Grippi of JLL represented the sellers in the deal. Completed in 2017, the property features 354 residential units, 6,650 square feet of street-level retail space and parking for 485 vehicles. On-site amenities include a rooftop pool, open-air lounge, fireplaces, outdoor grilling stations, fitness and business centers, a clubhouse/game room, storage units, bike, ski and snowboard storage and a 24/7 concierge.

September 19, 2018

Acquisitions California Colorado Multifamily Oregon Top Stories Washington Western

CapitaLand Acquires Multifamily Portfolio in Western U.S. for $835M

by Camren Skelton September 19, 2018

SINGAPORE — CapitaLand has acquired a multifamily portfolio located throughout the metropolitan areas of Seattle, Portland, Los Angeles and Denver for $835 million. The Singapore-based real estate company acquired the assets through its wholly owned international business unit, CapitaLand International. The 16-property, Class B portfolio includes 3,787 units, representing a price per unit of approximately $220,000. The acquisition will more than double CapitaLand’s investment in the U.S. to over $1.5 billion, as well as increase its presence in the market to more than 6,500 units. “The stable, reliable cash flows of these Class B multifamily properties make this suburban portfolio more attractive than the higher-priced urban core segment,” says Gerald Yong, CEO of CapitaLand International. “Situated in well-established, well-connected rental communities, this portfolio of low-rise and garden-style properties continue to be a strong draw for middle-income and skilled professionals working in surrounding employment hubs.” The portfolio includes five properties located in Seattle, three in Portland, three in the greater Los Angeles area and five in Denver. All of the properties in the portfolio were more than 90 percent occupied at the time of sale, with an average length of stay of two years. Community amenities across the portfolio include swimming …

September 19, 2018

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