Colorado

Wood Partners Buys the Grove at City Center in Aurora

by Nellie Day January 29, 2016

AURORA, COLO. — Wood Partners has purchased the Grove at City Center, a 420-unit apartment complex in Aurora, for an undisclosed sum. The community is located at 14304 E. Tennessee Ave., about 20 miles east of Denver. Wood Partners plans to continue the renovation efforts that were initially started by the unnamed seller. The Grove is less than half a mile from the Aurora Metro Center Rail Station, which will open mid-year. It is also situated near employment centers like the Anschutz Medical Campus, Fitzsimons Innovation District, Denver Tech Center and Denver International Airport.

January 29, 2016

Colorado Multifamily Western

Littleton Apartment Building Sells for $8.3M

by Nellie Day January 28, 2016

LITTLETON, COLO. — A 54-unit apartment building in Littleton has sold to an out-of-state buyer for $8.3 million. The community, called Broadridge Apartments, is located at 6900 S. Bannock St. It was built in 1965. Jeff Johnson and Matt Ritter, with the Johnson Ritter Team of Pinnacle Real Estate Advisors represented the buyer. Josh Newell of the same firm represented the seller.

January 28, 2016

Colorado Loans Retail Western

NorthMarq Arranges $28M Refinancing of Glenwood Meadows in Colorado

by Nellie Day January 25, 2016

GLENWOOD SPRINGS, COLO. — NorthMarq has arranged the $28 million refinance of Glenwood Meadows, a 145,000-square-foot shopping center located in Glenwood Springs, approximately 150 miles west of Denver. Tenants at the center include Chili’s, Petco, Vitamin Cottage, Bed Bath & Beyond and Ulta Beauty. Target and Lowe’s anchor the center, neither of which are part of the subject collateral. Paul Bruder and Conor McCahill of NorthMarq arranged the refinancing for the borrower through a life insurance company.

January 25, 2016

Colorado Multifamily Western

Denver Apartment Community Sells for $2.8M

by Nellie Day January 25, 2016

DENVER — An unnamed buyer has purchased a 17-unit apartment complex in Denver for $2.8 million. The community is located at 2441 S. York St. It underwent a renovation prior to sale. Mark Goodman and Paul Schneider of Pinnacle Real Estate Advisors represented the buyer. Kevin Calame and Matt Lewallen of the same firm represented the seller.

January 25, 2016

Colorado Office Western

Iliff Office Park in Aurora Sells for $2.4M

by Nellie Day January 21, 2016

AURORA, COLO. — A private investor has purchased Iliff Office Park, an 89,384-square-foot office campus in Aurora, for $2.4 million. The park is located at 2323 South Troy St., about 10 miles southwest of downtown Denver. The Class B property contains six buildings connected through a second-story, concourse-style floor. It also contains a common-area courtyard, as well as a newly completed tenant monument sign. Clayton Primm of Marcus & Millichap represented the buyer. Brian C. Smith of the same firm represented the seller, another private investor, in this transaction.

January 21, 2016

Colorado Hospitality Western

Ethika Funds Acquisition, Repositioning of Vail Cascade Resort and Spa

by Nellie Day January 20, 2016

VAIL, COLO. — Ethika Investments has funded the acquisition and repositioning of the 292-room Vail Cascade Resort and Spa. The resort is located at 1300 Westhaven Drive in Vail, approximately 90 miles west of Denver. Vail Cascade is one of the city’s only true ski-in/ski-out hotels. Ethika has also allocated additional capital for a $35 million property repositioning. This project will commence in the second quarter of 2016. The renovations will completely redesign the resort, including upgrades to the ski valet, enhanced outfitting services, refreshed culinary alternatives, and updates to the resort’s 45,000 square feet of meeting space and 78,000-square-foot athletic club. Amenity upgrades will include luxury bedding, new four- and five-fixture bathrooms and a new on-site spa. This project represents the 17th investment from Ethika’s Diversified Opportunity Real Estate Fund and the fund’s first investment in Colorado.

January 20, 2016

Colorado Multifamily Western

Braddock & Logan Buys Canyons at Saddle Rock in Aurora for $56.7M

by Nellie Day January 20, 2016

AURORA, COLO. — Braddock & Logan has purchased the 263-unit Canyons at Saddle Rock apartment community in Aurora for $56.7 million. The Class A community is located at 6850 South Versailles Way, about 25 miles southeast of downtown Denver. The property was 95 percent occupied at the time of sale. This property was Braddock & Logan’s first acquisition in metro Denver. Jeff Hawks, Doug Andrews, Terrance Hunt and Shane Ozment of ARA Newmark represented the seller, Inland Private Capital Corporation, in this transaction.

January 20, 2016

Colorado Multifamily Seniors Housing Western

Arcapita, MorningStar Acquire Three Seniors Housing Communities in Colorado for $85M

by Nellie Day January 18, 2016

DENVER and COLORADO SPRINGS, COLO. — A joint venture of Arcapita, a global investment management firm, and MorningStar Senior Living, an owner/operator based in Denver, has acquired a three-community seniors housing portfolio in Denver and Colorado Springs for $85 million. The portfolio totals 196 units of assisted living and memory care. The communities were built in 2013 and 2014. The names of the communities were not disclosed. MorningStar will operate the communities. Arcapita, which is based in the small middle-eastern island country of Bahrain, plans on many more U.S. seniors housing acquisitions in the near future. The investment firm previously acquired, managed and sold a $1.5 billion seniors housing portfolio in the U.S. and U.K. Colorado was specifically targeted because its seniors population is projected to grow at twice the national average over the next five years, according to Martin Tan, Arcapita’s chief investment officer.

January 18, 2016

Colorado Retail Western

Village at the Peaks in Colorado Adds Four New Retailers

by Nellie Day January 18, 2016

LONGMONT, COLO. — Village at the Peaks, a national parks-themed shopping center located on the grounds of the former Twin Peaks Mall in Longmont, has added four new tenants. Newly signed retailers include Boulder, Colorado-based Ozo Coffee Co., Mathnasium, The Sleep Number and Brain Balance Achievement Center. The property is currently over 85 percent leased to a total of 29 retailers including Whole Foods Market, Sam’s Club and Regal Cinemas.

January 18, 2016

Colorado Retail Western

Pinnacle Arranges Sale of Retail Property in Colorado for $5M

by Nellie Day January 11, 2016

PARKER, COLO. — Pinnacle Real Estate Advisors has arranged the $5 million sale of 12311 Pine Bluffs Way, a 20,230-square-foot retail building located in Parker. Pete Foster of Pinnacle represented the buyer, The SmartCap Group Inc., in the transaction.

January 11, 2016

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