Colorado

LMC, Weitz Co. Top Out 18-Story, 329-Unit Multifamily Development in Downtown Denver

by Amy Works June 25, 2018

DENVER — Developer LMC, A Lennar Co., and general contractor The Weitz Co. have topped out vertical construction for Radiant, a high-rise multifamily property located in downtown Denver. The 18-story, 486,000-square-foot tower will feature 329 apartment units, an amenity deck with a pool and hot tub on the fifth floor, a fitness center and patio on the sixth floor, a club room on the 17th floor, and a four-level parking garage. Situated in Denver’s Welton corridor, the project is located on the L Route of the Regional Transportation District Light Rail System offering a transit-oriented living options for residents. Designed by RNL, the property is slated for completion in June 2019.

June 25, 2018

Acquisitions Colorado Hospitality Western

Marcus & Mililchap Brokers $9.2M Sale of 92-Room Hotel in Metro Denver

by Amy Works June 22, 2018

ENGLEWOOD, COLO. — Marcus & Millichap has arranged the sale of a Holiday Inn Express & Suites, a 92-room hotel located at 7380 S. Clinton St. within Denver Tech Center in Englewood. A private seller sold the property for $9.2 million. The buyer plans to complete a property improvement plan to convert the property into an EVEN Hotel by InterContinental Hotels Group. Neville Rustomjee of Marcus & Millichap represented the seller and buyer, a Florida-based private investor, in the transaction.

June 22, 2018

Colorado Development Hospitality Western

Soul Community Planet Opens Inaugural Hotel in Colorado Springs After $6M Renovation

by Amy Works June 21, 2018

COLORADO SPRINGS, COLO. — Soul Community Planet (SCP) has opened its first SCP Hotel. The renovated property is located in Colorado Springs. Located at the base of Pikes Peak, the 98,000-square-foot hotel features 176 guest rooms crafted with reclaimed and beetle-kill wood and sustainable elements; a 2,000-square-foot lobby with co-working spaces, a 500-square-foot meeting room and free WiFi for guests; and SCP Fit, a 12,000-square-foot full-service health and wellness club. SCP Hotels offer a holistic hospitality concept for travelers and the surrounding community through services and the extensive use of green materials, eco-friendly products, solar energy, sustainable practice and water-conserving fixtures. The hotel is in its final stages of a $6 million, nine-month renovation, with a soft opening scheduled for June 27.

June 21, 2018

Acquisitions Colorado Healthcare Office Western

Quantum Commercial Brokers $2.9M Sale of Medical Office Building in Colorado Springs

by Amy Works June 20, 2018

COLORADO SPRINGS, COLO. — Quantum Commercial Group has arranged the sale of a medical office building located at 1699 Medical Center Point in Colorado Springs. A private investor, 601 El Camino Real LLC, acquired the property for $2.9 million. The building features 9,585 square feet of medical office space. Kay Folan of Quantum Residential Group and Mary Frances Cowan of Quantum Commercial Group represented the seller, 1699 Medical Center Point LLC. Steve Ghirardo and Nick Ghirardo of Ghirardo Real Estate Group represented the buyer in the deal.

June 20, 2018

Acquisitions Colorado Loans Office Western

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

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