GREELEY, COLO. — Steadfast Apartment REIT has purchased the 224-unit PeakView at T-bone Ranch in Greeley for an undisclosed sum. The community is located at 4750 W. 29th St. It is situated adjacent to the University of Northern Colorado. Terrance Hunt, Shane Ozment, Doug Andrews and Jeff Hawks of ARA Newmark represented the seller, Buckley Brothers, in this transaction.
DENVER — OliverMcMillan, in partnership with Invesco Real Estate, has acquired Clayton Lane, a mixed-use property located in Denver’s Cherry Creek North, for an undisclosed price. Whole Foods Market and Crate & Barrel anchor Clayton Lane, which features over 182,000 square feet of retail across six separate buildings. The property also features underground parking.
NEW YORK CITY — Affiliates of American Realty Capital (ARC) Hospitality Trust have purchased a six-property hotel portfolio from Summit Hotel Properties (NYSE: INN) for $108.3 million. The portfolio contains a total of 707 Marriott- and Hilton-branded rooms throughout the states of Washington and Colorado. Properties included in the transaction are the 84-room Fairfield Inn & Suites in Spokane and the 144-room Fairfield Inn & Suites in Bellevue, Wash.; the 120-room Hilton Garden Inn and 75-room Hampton Inn in Fort Collins, Colo.; and the 160-room Fairfield Inn & Suites and 124-room SpringHill Suites in Denver. The latest six-property portfolio acquisition brings ARC’s lodging holdings to 142 hotels totaling 17,351 rooms across 32 states. Crestline Hotels and Resorts and Interstate Hotels & Resorts will manage the new acquisitions. ARC drew on its term loan facility to finance the transaction. Deutsche Bank AG New York Branch and Deutsche Bank Securities arranged that portion of the financing. Summit also provided a $27.5 million loan to ARC, which included $7.5 million for earnest money. The remaining balance was applied toward the six-hotel purchase price. The loan has an initial maturity date of Feb. 11, 2017, with two, one-year extension options. Proceeds from the latest sale …
LITTLETON, COLO. — An unidentified, out-of-state buyer has purchased the 54-unit Broadridge Apartments in Littleton for $8.3 million. The community is located at 6900 S. Bannock St. It was built in 1965. Jeff Johnson and Matt Ritter of Pinnacle’s Johnson Ritter Team represented the buyer, while the firm’s Josh Newell represented the seller in this transaction.
DENVER — A 20-unit apartment building in Denver has sold to an unnamed buyer for $2.7 million. The community is located at 4353-4373 Clay St. Kevin Calame and Matt Lewallen of Pinnacle Real Estate Advisors represented both the buyer and seller in this transaction.
HIGHLANDS RANCH, COLO. — Erickson Senior Living has completed the Phase II expansion of Wind Crest, a continuing care retirement community (CCRC) in the Denver suburb of Highlands Ranch. Texas-based design firm studioSIX5 started the project with Erickson in 2012, adding a second neighborhood and spreading out amenities rather than concentrating them in a central community area. Erickson is a Baltimore-based owner/operator of CCRCs. The company manages eight communities totaling 5,787 units, according to June numbers from the American Seniors Housing Association.
LONGMONT, COLO. — U.S. Engineering has purchased a 106,180-square-foot industrial building in Berthoud for $7.7 million. The facility is located at 390 Mountain View Drive, just north of Longmont. It was built in 1999. The full-service mechanical contractor plans to occupy the entire building. Bruce Mawhinnie of Newmark Grubb Knight Frank represented the buyer. Matt Trone, Sam Slaton and Steve Hager represented the seller, PTI USA Manufacturing.
DENVER — Advenir has purchased a 292-unit apartment community in Denver for $42 million. The community, formerly known as Cypress Point, has been rebranded as Advenir at Cherry Creek South. It is located at 1211 S. Quebec Way. Advenir at Cherry Creek South was built in 1979. The property underwent $2 million in exterior, interior and common-area renovations. Advenir plans to pump an additional $3 million into the community.
DENVER — Jensen Precast has purchased a 143,960-square-foot industrial facility in the Denver submarket of Lockeford for an undisclosed sum. The facility is located at 12101 E. Brandt Road. The space will serve as an expansion of the precast concrete company’s existing facility. The seller is NCI Building Systems. Eric Dienstbach of Binswanger, along with John Fondale of Newmark Cornish & Carey, executed the transaction.
FORT COLLINS, COLO. — NorthMarq has arranged a $3.7 million refinancing for 3636 and 3700 S. College Ave. in Fort Collins. The collateral consists of two freestanding retail buildings totaling 35,211 square feet. The center is home to a mix of local and regional tenants including Men’s Wearhouse. Mark Jeffries and Conor McCahill of NorthMarq arranged the financing for the borrower.