DENVER — Swisslog Healthcare has signed a 10-year lease for 29,731 square feet of office space in Denver. The space is situated within the 90-acre Circle Point Corporate Campus at Circle Point 2. The lease was part of Swisslog Healthcare’s goal to relocate its global headquarters from the Montbello industrial neighborhood to the tech-savvy Northwest Corridor. JLL’s Jason White, Billy Byrne and Mitch Zatz represented the material transport, medication management and supply chain management services and solutions provider. The company will take occupancy in January 2018.
FORT COLLINS, COLO. — Cress Capital has purchased a 500,000-square-foot office and flex industrial portfolio in Fort Collins. The property is known as the Prospect Portfolio. It was built between 1984 and 2004. Prospect Portfolio is situated near the intersection of Prospect and Timberline, one mile west of I-25.
LAMAR, COLO., MONTE VISTA, COLO., AND MYRTLE POINT, ORE. — Lancaster Pollard has arranged $9.5 million in FHA financing for Summit Healthcare REIT. The loans will refinance the acquisition loans on three skilled nursing facilities in the Western United States. The three facilities are Juniper Village at Lamar, a 60-unit skilled facility in Lamar; Juniper Village at Monte Vista, a 58-unit facility in Monte Vista; and Myrtle Point Care Center in Myrtle Point, which features 28 units of skilled nursing and 18 units of assisted living. Jason Dopoulos led the transaction for Lancaster Pollard. The financing, which has a 30-year term, lowered the fixed interest rate on the properties. Summit is a public, non-traded company that recently transitioned from an industrial REIT to a healthcare REIT.
DENVER — Church’s Chicken has entered into a multi-year development deal with Goalz Restaurant Group LLC to develop 20 Church’s Chicken restaurants per year in six states. The agreement, which will affect expansion in Colorado, as well as Florida, Kentucky, Ohio, North Carolina and South Carolina, is Church’s largest ever with a single operator. For the new development deal, Shawn Eby, president of Goalz Restaurant Group, partnered with American Development Partners (ADP) for development of the restaurants. ADP will invest capital to fund real estate acquisitions, construction and design. ADP will be Goalz’s build-to-suit landlord.
GUNNISON, COLO. — A limited liability company has acquired the 107-room Holiday Inn Express & Suites Gunnison for $9.7 million. The hotel is located at 910 E. Tomichi Ave., southeast of Grand Junction. The LLC plans to improve the hotel. Gordon Allred, Shane Hanrahan and Neville Rustomjee of Marcus & Millichap represented the buyer. Allred and Rustomjee also represented the seller, another LLC, in this transaction.
DENVER — Union Investment has purchased the Triangle Building, a 21,000-square-foot office building in Denver, for $154 million. The building is situated directly opposite Union Station in the Lower Downtown district. The Triangle Building is 98 percent leased to tenants like media firm Liberty Global, WeWork and software company AutoDesk. The seller was a joint venture between an affiliate of Starwood Capital Group and East West Partners.
BRUSH, COLO. — Lancaster Pollard has closed $34.7 million in financing for the refinancing and expansion of Eben Ezer Lutheran Care Center in Brush, approximately 90 miles northeast of Denver. In addition to refinancing existing debt with long-term, fixed-rate financing, the loan will allow for construction of 46 units of memory care in three buildings, a 54-unit assisted living building and new physical therapy area. The expansion will also include a new kitchen, laundry and central receiving facilities, as well as the demolition of several existing structures. Rob McAdams led the transaction for Lancaster Pollard.
SUPERIOR, COLO. — DSP Builders has started construction of a 60,000-square-foot medical office building in Superior. The four-story Superior Medical Center will be situated at the southeast corner of U.S. Highway 36 and McCaslin Boulevard. The $18.5 million project is slated for completion by early 2018. It is 50 percent pre-leased to tenants like Boulder Community Health (BCH), Touchstone Imaging and Cornerstone Orthopedics & Sports Medicine. John Gustafson of Newmark Grubb Knight Frank is overseeing leasing for the building. Intergroup Architects designed the property.
DENVER — New York Life Real Estate Investors has originated a $51.8 million loan for the 306-unit Alta Cherry Hills apartment complex in Denver. The community is located at 3650 S. Broadway. The mortgage has a seven-year term. The funds were used to purchase the property. Michael Ortlip of Grandbridge Real Estate Capital acted as the mortgage broker. The borrower was Bell Partners. The seller was not disclosed
ENGLEWOOD, COLO. — A fund advised by CBRE Global Investors has acquired the 438-unit Alexan CityCenter apartment complex in Englewood for $97 million. The community is located at 801 Englewood Parkway. The garden-style property will be renamed ArtWalk CityCenter. It also features 13,000 square feet of ground-floor retail. The asset is connected to the Englewood Light Rail station, which provides direct access to downtown Denver, Mile High Stadium, Union Station and the airport. CBRE Global Investors has identified Denver has a target market for the group.