Colorado

BMC Investments, Oak Coast Properties Buy Timber Lodge Apartments Near Denver for $40.5M

by Nellie Day January 31, 2017

THORNTON, COLO. — A joint venture between BMC Investments and Oak Coast Properties has purchased the 390-unit Timber Lodge Apartments in Thornton for $40.5 million. The asset is located nine miles north of downtown Denver. Timber Lodge was built in 1972. It has recently undergone a $6.9 million capital improvement program that renovated many of the units. The community is currently 94 percent occupied. HFF’s Brock Yaffe and Charles Halladay assisted in securing a $13.8 million supplemental loan for the buyer through Freddie Mac’s CME Program. HFF will service the securitized loan.

January 31, 2017

Colorado Industrial Western

Sierra Pacific Industries Purchases Crossroads Commerce Park in Denver

by Nellie Day January 31, 2017

DENVER — Sierra Pacific Industries has purchased the 52,566-square-foot Crossroads Commerce Park in Denver for an undisclosed sum. The property is located at the northwest corner of 52nd Avenue and Washington Street in unincorporated Adams County. Construction on the facility commenced last summer and was completed this week. Murray & Stafford is the general contractor and Ware Malcomb is the architect. Colorado Business Bank provided financing. The Newmark Grubb Knight Frank team of Mike Wafer, Tim D’Angelo and Mike Wafer Jr. represented the seller, Trammell Crow Co., in this transaction. The team also handled the leasing and marketing for Crossroads.

January 31, 2017

Colorado Multifamily Student Housing Western

H. Katz, Coastal Ridge Acquire 712-Bed Student Housing Community Near Colorado State

by Nellie Day January 27, 2017

FORT COLLINS, COLO. — A joint venture between H. Katz Capital Group and Coastal Ridge Real Estate has acquired Aspen Heights Fort Collins, a 712-bed community located near Colorado State University in Fort Collins. The price was not disclosed. Coastal Ridge has taken over management of the property, and is in the process of re-branding the community as The Outpost. The development offers two-, three-, four- and five-bedroom apartment-style units and cottages, with private bathrooms and guest half-baths, washers and dryers, and walk-in closets. Community amenities include a 24-hour fitness center, yoga studio, resort-style pool, hot tub, outdoor grills, a clubhouse, computer lab, sand volleyball court, movie theater, study lounge, tanning beds and a private shuttle. The property was sold by TSB Realty. TSB Capital Advisors assisted the joint venture in procuring a senior loan through Walker Dunlop and Freddie Mac.

January 27, 2017

Colorado Office Western

Fidelity National Opens Newest National Commercial Services Division in Colorado

by Nellie Day January 26, 2017

DENVER — Fidelity National Title Group (FNTG) has opened its newest National Commercial Services (NCS) division in Colorado. This division will combine the resources of several FNTG commercial brands under one roof, including Chicago Title, Fidelity National Title, Commonwealth Land Title and Heritage Title. The NCS Colorado division will be led by senior vice presidents Tony Matlock, Lance Capel, Darren Hone and Stephanie Taylor. Fidelity National Financial is the parent company to National Commercial Services, Colorado. It provides title insurance, mortgage services and diversified services.

January 26, 2017

Colorado Loans Office Western

Goldman Sachs, Pearlmark Receives $93.5M in Financing to Acquire Denver Office Building

by Nellie Day January 24, 2017

DENVER — A joint venture between Goldman, Sachs & Co. and Pearlmark has received $93.5 million in financing for the acquisition of a 492,799-square-foot office building in Denver. The Class A space is located at 1125 17th St. It occupies an entire city block on the corner of 17th and Lawrence streets where the Central Business District and Lower Downtown (LoDo) converge. The 25-story tower is 85.2 percent leased to JP Morgan Chase & Co. and Halliburton, among others. On-site amenities include a fitness club, juice and smoothie bar, basketball and bocce courts, and underground parking. HFF’s Eric Tupler and Josh Simon secured the four-year, floating-rate loan through Bank of America.

January 24, 2017

Colorado Hospitality Loans Western

Focus Property Group Receives $69M Loan for Hilton Garden Inn in Denver

by Nellie Day January 20, 2017

DENVER — Focus Property Group has received $69 million in financing to develop a 12-story Hilton Garden Inn in Denver. The hotel is situated at 20th Street and Chestnut Place. It sits adjacent to Denver’s Union Station. The Hilton Garden Inn is being built around the historic Denver Hose Company No. 1 building, which will be restored and incorporated into the hotel. The 42-month, fixed- and floating-rate structured financing included $18 million in mezzanine debt as well as $8 million in preferred equity. Bank of the Ozarks served as the senior lender, Artemis Real Estate Partners served as the mezzanine lender and EverWest Real Estate Partners served as the preferred equity lender. Marc Sallette, David Treadwell, Mike Cantwell and Olga Lepow of CBRE Hotels’ Debt & Structured Finance secured the financing.

January 20, 2017

Colorado Industrial Loans Western

Pauls Receives $73M Refinancing for 14-Building Industrial Portfolio in Aurora

by Nellie Day January 19, 2017

DENVER — Pauls has received a $73 million loan to refinance a 14-building industrial portfolio in Aurora. The portfolio totals 1.9 million square feet of Class A distribution warehouse space. Properties included in the portfolio feature clear heights between 22’ to 32’ and buildings sizes ranging from 72,000 square feet to 347,840 square feet. All buildings were constructed between 1996 and 2015. The buildings are leased to 40 tenants, including Whole Foods Market, VWR International, Simmons Company and MSI International. They are situated on a total of 111.7 acres in the East I-70/Montbello industrial submarket in northeast Denver. The two 10-year, fixed-rate, full-term, interest-only loans were placed with Nationwide Life Insurance Co. The funds were used to refinance an existing life company loan and a construction loan. HFF’s Kristian Lichtenfels and Eric Tupler arranged the loans.

January 19, 2017

Colorado Hospitality Western

Schulte Hospitality Buys Hyatt Place in Colorado Springs

by Nellie Day January 10, 2017

COLORADO SPRINGS, COLO. — Schulte Hospitality has purchased the 126-room Hyatt Place in Colorado Springs for an undisclosed sum. The hotel is located at 503 W. Garden of the Gods Road. CBRE Hotels’ Larry Kaplan and Mark Darrington represented the seller, a joint venture between Sage Hospitality and Whitman Peterson, in this transaction.

January 10, 2017

Colorado Loans Multifamily Western

George Smith Partners Secures $41M for the Vineyards Apartments in Colorado Springs

by Nellie Day January 3, 2017

COLORADO SPRINGS, COLO. — George Smith Partners has arranged $41 million in acquisition financing for the Vineyards, a 300-unit apartment community in Colorado Springs. The community is located at 4350 Mira Linda Point. The private real estate investment and development company that purchased the asset plans to renovate all units and upgrade the community’s landscaping and on-site amenities, including the clubhouse, fitness center, leasing offices and business center. The non-recourse loan features a fixed 4.31 percent interest rate with nine years of interest-only payments. George Smith Partners’ Jonathan Lee arranged the financing, which Walker and Dunlop provided.

January 3, 2017

Colorado Multifamily Western

Alexan Sloan’s Lake Apartments in Denver Sells for $102.8M

by Nellie Day December 22, 2016

DENVER — Castle Lanterra has acquired the 369-unit Alexan Sloan’s Lake apartment community in Denver for $102.8 million. The community is located at 1550 Raleigh St. Alexan Sloan’s Lake features 9,000 square feet of first-floor retail. The property is part of a 19-acre mixed-use redevelopment of the former Saint Anthony Hospital campus. The development will eventually contain up to 150,000 square feet of retail and office space. Jeff Hawks, Terrance Hunt, Doug Andrews, Shane Ozment and Chris Cowan of ARA Newmark represented the seller, a joint venture between Trammell Crow Residential and an institutional investor.

December 22, 2016

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