Colorado

Boulder Housing Authority Purchases Tantra Lake Apartments for $45.6M

by Nellie Day April 5, 2017

BOULDER, COLO. — The Boulder Housing Authority has acquired the 185-unit Tantra Lake Apartments in Boulder for $45.6 million. The garden-style community is located at 1000 W. Moorhead Circle. Tantra Lake is situated about three miles southeast of downtown Boulder and the University of Colorado Boulder campus. Community amenities include a heated indoor swimming pool, hot tub, outdoor basketball and tennis courts, grilling areas, playground, 24-hour fitness facility, resident lounge, business center, man-made lake and views of the Rocky Mountains. HFF’s Matthew Lawton and Jordan Robbins represented the seller, Waterton, in this transaction.

April 5, 2017

Colorado Multifamily Western

Westminster Apartment Community Sells for $2.3M

by Nellie Day April 3, 2017

WESTMINSTER, COLO. — A private investor has acquired a 16-unit apartment community in Westminster for $2.3 million. The community is located at 7461 Quitman St. The property contains two buildings with two-bedroom residences. Sevak Keshishian and Lance Krachey of Marcus & Millichap represented the buyer.

April 3, 2017

Colorado Hospitality Top Stories Western

Ashford Hospitality Prime Acquires Park Hyatt Beaver Creek in Colorado for $145.5M

by Katie Sloan April 3, 2017

BEAVER CREEK, COLO. — Ashford Hospitality Prime Inc. (NYSE: AHP) has acquired the 190-room Park Hyatt Beaver Creek Resort & Spa in Beaver Creek, Colo., for $145.5 million. The seller was not disclosed. The property amenities include ski-in and ski-out access; a heated outdoor pool and five outdoor hot tubs beneath a mountain waterfall; an outdoor fire pit; spa; fitness club; and onsite ski rental and boot fitting. The hotel also features 20,000 square feet of flexible indoor and outdoor meeting space, and dining options including a bar and grill, café and a complimentary s’mores happy hour held daily at the fire pit. Concurrent with the acquisition, Ashford Hospitality Prime received a $67.5 million, non-recourse mortgage loan. The financing features interest-only payments, and provides for a floating interest rate of LIBOR plus 2.75 percent with a two-year term and three one-year extension options. The property will continue to be operated as a Park Hyatt under a management agreement with Hyatt. Ashford Hospitality Prime is a real estate investment trust focused on investing in luxury hotels and resorts. The company’s stock closed on Friday, March 31 at $10.61 per share, down from $11.67 one year ago. — Katie Sloan

April 3, 2017

Colorado Restaurant Retail Western

Tropical Smoothie Cafe Plans Expansion in Colorado

by Nellie Day March 30, 2017

DENVER — Tropical Smoothie Cafe plans for continued development in Colorado, targeting Denver, Colorado Springs and Centennial to expand its presence through franchise growth. Tropical Smoothie currently has three locations in Colorado. Spearheading Tropical Smoothie’s expansion throughout Colorado is husband-and-wife team Craig and Dianne LeMieux, area developers for the region. The LeMieuxs purchased area developer rights to the market in April 2016, along with two existing locations in Centennial. In addition to their development efforts in Colorado, the LeMieuxs are also Tropical Smoothie area developers in Michigan and Ohio. They currently have a total of 58 open locations throughout their markets, with an additional 39 cafes in development. Over the past three years, Tropical Smoothie Cafe has sold over 450 franchises nationwide. This year, the food and smoothie franchise plans to open 100 restaurants nationwide, focusing on franchise opportunities in markets such as Indianapolis, Nashville, Houston, Dallas, Cincinnati and Minneapolis, among others. By 2020, Tropical Smoothie Cafe aims to have 1,000 stores open across the U.S.

March 30, 2017

Colorado Multifamily Student Housing Western

Pinnacle Arranges $1.9M Sale of 12-Unit Property Near the University of Denver

by Nellie Day March 30, 2017

DENVER — Pinnacle Real Estate Advisors LLC has arranged the $1.9 million sale of a 12-unit housing community located one block from the University of Denver campus. Jeff Johnson and Matt Ritter of Pinnacle represented the undisclosed seller, and Peter Sengelmann and Jeff Johnson of Pinnacle represented the undisclosed buyer in the transaction.

March 30, 2017

Colorado Retail Top Stories Western

Extra Innings: Colorado Rockies Sign $215M, 30-Year Lease at Coors Field

by John Nelson March 30, 2017

DENVER — The Colorado Rockies baseball club has signed a 30-year lease worth $215 million to continue to play at Coors Field in Denver. The Major League Baseball (MLB) team’s existing 22-year lease at the 50,480-seat ballpark was set to expire today. The Rockies signed the new lease deal with the owner of Coors Field, the Denver Metropolitan Major League Baseball Stadium District, a regional agency that comprises seven Denver-area counties. “In addition to successfully meeting the objectives the Rockies and the Stadium District had from the beginning — keeping baseball in Colorado in a world-class facility at no cost to the taxpayers — we are proud that Coors Field will continue to be a vital part of a vibrant city, state and region,” says Dick Monfort, owner, chairman and CEO of the Colorado Rockies. The lease features three separate five-year extension options and will expire in 2047, when the ballpark will be 53 years old. The team will pay $1 million in annual rent and $1.5 million in contributions to the capital repairs fund, which totals $75 million for the life of the lease. The team will also lease the ballpark’s West Lot, a 291-space parking lot that is …

March 30, 2017

Colorado Office Western

Boulder Community Health Buys 6.1 Acres in Colorado to Build 40,000 SF Medical Office

by Nellie Day March 29, 2017

ERIE, COLO. — Boulder Community Health has acquired 6.1 acres of land located at the northwest corner of Erie Parkway and South Briggs Street in Erie. The price was not disclosed. The group plans to build a 40,000-square-foot medical office building on the site, complete with an urgent care facility. Construction is set to begin late this year, with completion in the fourth quarter of 2018. The property sits adjacent to Erie Community Park and the Erie Community Center, along the main corridor into the historic downtown area.

March 29, 2017

Colorado Loans Multifamily Western

Griffis Residential Obtains $81.9M Acquisition Loan for Skye 2905 Urban Flats in Denver

by Nellie Day March 28, 2017

DENVER — Griffis Residential has obtained an $81.9M acquisition loan to purchase the 400-unit Skye 2905 Urban Flats apartment community in Denver. The property is situated across from 20th Street from the Union Station neighborhood. The property was formerly named Skye 2905. HFF’s Eric Tupler and Josh Simon represented the borrower to place the 10-year, 3.98-percent, fixed-rate loan with five years of interest-only payments. A correspondent life insurance company provided the capital.

March 28, 2017

Colorado Industrial Western

Pet Scoop Leases Industrial Space in Denver

by Nellie Day March 28, 2017

DENVER — Pet Scoop has leased a 10,000-square-foot of industrial space in Denver. The space is located at 1260 West Byers Place. Pet Scoop is the largest private dog waste contractor in the state. Nick Schill of Pinnacle Real Estate Advisors represented Pet Scoop in this transaction.

March 28, 2017

Colorado Hospitality Western

Rockies Lodging Capital Buys Two Hotels in Fort Collins

by Nellie Day March 27, 2017

FORT COLLINS, COLO. — Rockies Lodging Capital has purchased two hotels in Fort Collins for an undisclosed sum. The hotels include the 113-room Residence Inn and the 112-room Courtyard located at 1127 and 1200 Oakridge Drive, respectively. The properties are situated in the center of Fort Collins’ main commercial corridor. CBRE Hotels’ Mark Darrington and Larry Kaplan represented the seller, Southwest Value Partners, in this transaction.

March 27, 2017

Newer Posts

Older Posts