Colorado

Griffis Residential Purchases 296-Unit Apartment Complex in Downtown Denver for $100M

by Nellie Day December 20, 2017

DENVER — Griffis Residential has acquired The Huron, a new 296-unit apartment community in downtown Denver, for $100 million. The Class A+ community is located at 2975 Huron St. The Huron is situated just blocks from Coors Field in the Union Station North neighborhood. The property is also a few blocks from Union Station and a recently announced mixed-use development, which will include a Rockies Hall of Fame, outdoor public gathering area, hotel and office space. The Huron was built in 2016. Property amenities include a lounge with a tech bar, three theater screening rooms, a fitness center, controlled access and concierge service. Terrance Hunt, Shane Ozment, Jeff Hawks, Doug Andrews and Chris Cowan represented the seller, Edwards Cos., in this transaction.

December 20, 2017

Colorado Multifamily Seniors Housing Western

CA Senior Living Starts Construction of Mid-Rise Community Near Denver

by Nellie Day December 19, 2017

ENGLEWOOD, COLO. — CA Senior Living LLC, the seniors housing investment and development division of Chicago-based CA Ventures, has started construction of Atria Englewood, a 130-unit seniors housing community in the Denver suburb of Englewood. Atria Senior Living will operate the seven-story community, which will offer a mix of assisted living and memory care apartments. The property is scheduled to open in summer 2019. When complete, Atria Englewood will offer a total of 106 assisted living apartments, with floor plans ranging from 380 to 1,200 square feet. The remaining 24 apartments will be for memory care. Atria Englewood represents CA Senior Living’s plans to build infill, mid-rise seniors housing near major metros.

December 19, 2017

Colorado Retail Western

Confluent Breaks Ground on Grocery Component of 20,000 SF Retail Project in Colorado

by Nellie Day December 19, 2017

CENTENNIAL, COLO. — Confluent Development has broken ground on the grocery portion of a 20,000-square-foot retail project located within The Ridge, a mixed-use development in the Denver suburb of Centennial. Upon completion, the project will feature three freestanding retail buildings. Confluent Development is partnering with Equity Ventures Commercial Development to deliver a 13,300-square-foot, build-to-suit building for Natural Grocers. The organic grocer will move into the new space in the third quarter of 2018. The project also includes a 2,000-square-foot, freestanding Starbucks Coffee, which opened in September. The third portion of the project will add an additional freestanding building, totaling 4,200 square feet. The Ridge mixed-use development includes a Holiday Inn, Centennial Gun Club, two office buildings and additional retail and restaurant buildings.

December 19, 2017

Colorado Loans Multifamily Western

Crestone Partners Obtains $70.6M in Financing for 10-Story Office Tower in Denver

by Nellie Day December 18, 2017

DENVER — Crestone Partners has obtained $70.6 million in financing for Granite Place at Village Center, a 299,568-square-foot office tower in the Denver submarket of Greenwood Village. The 10-story building is located at 6165 S. Willow Drive. The property is fully leased to Charter Communications and CSG International. HFF secured the six-year, fixed-rate, interest-only loan through Principal Real Estate Investors. Loan proceeds were used to acquire the property. The borrower was not disclosed.

December 18, 2017

Colorado Multifamily Western

LaSalle Buys 422-Unit Apartment Complex in Highlands Ranch, Colorado

by Nellie Day December 15, 2017

HIGHLANDS RANCH, COLO. — LaSalle Investment Management has purchased the 422-unit Legacy at Highlands Ranch just south of Denver for an undisclosed sum. The community is located at 355 W. Burgundy St. in Highlands Ranch. Legacy at Highlands Ranch was built in 1999. It is expected to benefit from an extension of the Light Rail, which will connect Highlands Ranch to the broader Denver area and downtown’s Union Station. LaSalle plans to update the asset’s interiors and common areas. LaSalle purchased this multifamily property on behalf of its U.S. core open-end real estate fund, LaSalle Property Fund.

December 15, 2017

Colorado Multifamily Student Housing Western

Whiting-Turner Starts Construction of 700-Bed Residence Hall at the University of Colorado Boulder

by Nellie Day December 14, 2017

BOULDER, COLO. — Construction is underway on Williams Village East, a 178,000-square-foot, 700-bed residence hall located at the University of Colorado Boulder. The design-build team for the project consists of KWK Architects, alm2s and Whiting-Turner Contracting Co. The $96.7 million residence hall is being built in accordance with LEED Gold standards, and will include solar panels, LED lighting, recycling areas, occupancy sensor lighting, green outlets and thermostats in each room. The development — which targets upperclassman — will open for occupancy in August 2019.

December 14, 2017

Colorado Retail Western

Faris Lee Arranges $6.1M Sale of Walgreens Property in Metro Denver

by Nellie Day December 14, 2017

NORTHGLENN, COLO. — Faris Lee Investments has arranged the $6.1 million sale of a 14,990-square-foot retail property triple-net-leased to Walgreens in Northglenn, located 20 miles north of Denver. Shaun Riley of Faris Lee Investments arranged the transaction on behalf of the seller, P&A Northglenn LLC. Rob Edwards of Pinnacle Real Estate Advisors LLC represented the buyer, Governors Park Lofts LLC. The property is adjacent to a power center anchored by Super Target, Sprouts, Barnes & Noble, Cost Plus and Marshalls.

December 14, 2017

Colorado Multifamily Western

IRET Properties Purchases 274-Unit Apartment Complex in Denver for $90.6M

by Nellie Day December 8, 2017

DENVER — IRET Properties has purchased the 274-unit Dylan Apartments in Denver’s River North Art District (RiNo) for $90.6 million. The community is located at 3201 Brighton Blvd. Terrance Hunt, Shane Ozment and Chris Cowan of ARA Newmark represented the unnamed seller in this transaction.

December 8, 2017

Colorado Multifamily Seniors Housing Western

Avenida Partners Starts Construction of 230-Unit Active Adult Community Near Denver

by Nellie Day December 8, 2017

LAKEWOOD, COLO. — Avenida Partners has started the construction of Avenida Lakewood, a 230-unit age-restricted community in the Denver suburb of Lakewood. KTGY Architecture + Planning designed the project, which is located six miles from downtown Denver. The four-story community is located on 6.1 acres and is restricted to residents age 55 and older. Avenida Lakewood is part of the Oak Station Marketplace mixed-use development serving the newly-constructed W Light Rail Oak Station. The apartments at Avenida Lakewood range in size from 793 square feet to 1,238 square feet and include a mix of 92 one-bedroom apartments and 138 two-bedroom apartments. The presale office is slated to open in May 2018. The community grand opening is planned for spring 2019. Avenida Partners LLC is a real estate development, investment and property management firm focused solely on building active adult, market-rate rental communities. Headquartered in Newport Beach, Calif., the company has current developments in Oklahoma, Tennessee, Colorado and Illinois.

December 8, 2017

Colorado Loans Office Western

J.P. Morgan Asset Management Obtains $75.3M Loan to Buy Three-Building Office Portfolio in Boulder

by Nellie Day December 6, 2017

BOULDER, COLO. — J.P. Morgan Asset Management has obtained $75.3 million in acquisition financing to purchase a three-property office portfolio in Boulder. The portfolio includes 1050 Walnut Street, 1881 9th Street and 1900 15th Street. The Class A assets are situated just a few blocks from Boulder’s vibrant Pearl Street Mall. J.P. Morgan acted on behalf of institutional investors in this acquisition. Deutsche Bank provided the five-year, floating rate loan. JLL’s Capital Markets team secured the loan.

December 6, 2017

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