Colorado

HFF Arranges Joint Venture Equity and Financing for Denver Pavilions

by Nellie Day August 17, 2015

DENVER — Holliday Fenoglio Fowler (HFF) has arranged joint venture equity and financing for a recapitalization of Denver Pavilions, a 351,347-square-foot, open-air regional shopping mall located in downtown Denver. Mary Sullivan, John Jugl and Eric Tupler of HFF worked on behalf of the owner, Gart Properties, to arrange a joint venture equity partnership with MetLife Real Estate Investors, and to place a 10-year, fixed-rate loan for the partnership with Cornerstone Real Estate Advisers. The 95 percent leased center was renovated in 2010, and is home to tenants including H&M, United Artists theater, Lucky Strike Lanes, Hard Rock Café, Coyote Ugly Saloon, Barnes and Noble, Forever 21, Banana Republic and BareMinerals.

August 17, 2015

Colorado Multifamily Seniors Housing Western

Morningstar to Open Four New Seniors Housing Communities in 2015

by Nellie Day August 14, 2015

DENVER — MorningStar Senior Living plans to open four new senior communities throughout the Southwest before the end of 2015. MorningStar Assisted Living & Memory Care of Boulder will open Sept. 11 in Boulder, Colo. The $25 million community will offer 94 suites (48 for assisted living; 46 for memory care). MorningStar Assisted Living & Memory Care at Arrowhead will open Sept. 25 in Glendale, Ariz. The $18 million community will offer 85 suites (60 for assisted living; 25 for memory care). MorningStar Assisted Living & Memory Care of Fort Collins will open in early December in Fort Collins, Colo. The $18 million community will offer 79 suites (55 for assisted living; 24 for memory care). MorningStar Assisted Living & Memory Care of Albuquerque will open in December in Albuquerque, N.M. The $17 million community will offer 69 suites (48 for assisted living; 21 for memory care). Based in Denver, MorningStar Senior Living is an operator, owner and developer of senior living communities. The company has over 2,600 units currently under management or in development across 23 communities in seven states.

August 14, 2015

Colorado Retail Western

Cushman & Wakefield Arranges $20.1M Sale of City Center Marketplace

by Nellie Day August 10, 2015

AURORA, COLO. — Cushman & Wakefield has arranged the $20.1 million sale of City Center Marketplace, a 234,255-square-foot shopping center located in the Denver suburb of Aurora. The center is home to tenants including 24 Hour Fitness, Office Depot, Sherwin Williams, DaVita and Family Dollar. Jon Hendrickson and Aaron Johnson of Cushman & Wakefield represented the seller, a Colorado-based private partnership, in the transaction.

August 10, 2015

Colorado Retail Western

Orchard Town Center Adds Seven New Tenants

by Nellie Day August 6, 2015

WESTMINSTER, COLO. — Orchard Town Center, a 914,000-square-foot open-air regional retail center located in Westminster, has added seven new tenants to its roster. Additions include a newly opened Bitto Bistro; a 2,673-square-foot Crushed Red to open in August; a 3,085-square-foot 20/20 EyeVenue to open in September; a 6,644-square-foot Katie Eile to open in October; and a 4,500-square-foot Rusty Bucket Restaurant and Tavern, a 23,000-square-foot Marshalls, and a 5,000-square-foot Maurices, all to open in spring 2016. Other recent openings include a 7,500-square-foot DXL and a 4,346-square-foot Panera Bread. Phoenix-based Vestar, who acquired the property in 2014 in a joint venture with UBS, oversees property management, leasing and marketing at Orchard Town Center.

August 6, 2015

Colorado Retail Western

Pine Tree Commercial Buys Arvada Marketplace-Connection Near Denver

by Nellie Day August 5, 2015

DENVER — Pine Tree Commercial Realty has acquired Arvada Marketplace-Connection, a 367,510-square-foot shopping center in the Denver submarket of Arvada, for $54.9 million. The center is located at the intersection of Wadsworth Boulevard and interstates 70 and 76. Arvada Marketplace-Connection was built in 1987. A 142,491-square-foot Sam’s Club anchors the center. Other notable tenants include Sports Authority, Dollar Tree and Youfit health club. CBRE’s Brad Lyons executed the transaction. The seller was RPAI. Bank of America provided the financing.

August 5, 2015

Colorado Industrial Loans Western

NorthMarq Arranges $59M in Financing for Colorado Technology Center Portfolio

by Nellie Day July 27, 2015

LOUISVILLE, COLO. — The Colorado Technology Center Portfolio, which contains a total of 631,135 square feet of light industrial space, has received $59 million in financing. The seven-building portfolio was fully leased, and all are situated within the Colorado Technology Center in Louisville, northwest of Denver. Steve Bye and Conor McCahill of NorthMarq Capital’s Denver office arranged the financing with an undisclosed investment bank. The non-recourse loan structure involved a 10-year, fixed-rate term with interest-only payments for three years, followed by a 30-year amortization schedule.

July 27, 2015

Colorado Multifamily Western

Denver Apartment Building Sells for $2.8M

by Nellie Day July 23, 2015

DENVER — A local multifamily investor has purchased a 20-unit apartment building in Denver for $2.8 million. The community is located at 833 Dexter St. The new investor also owns a few other properties within the same neighborhood. Matt Lewallan and Kevin Calame of Pinnacle Real Estate Advisors represented the buyer.

July 23, 2015

Colorado Office Western

Dayton Office Park in Greenwood Village Sells for $6.6M

by Nellie Day July 16, 2015

GREENWOOD VILLAGE, COLO. – Dayton Office Park, a 90,300-square-foot office park in the Denver submarket of Greenwood Village, has sold to an unnamed buyer for $6.6 million. The three-building complex is located at 6535-6565-6595 S. Dayton Street. The buildings were constructed between 1983 and 1985. The local seller was represented by Brandon Gouker of Pinnacle Real Estate Advisors.

July 16, 2015

Colorado Multifamily Western

LaSalle Investment Management Buys Mixed-Use Building in Denver

by Nellie Day July 15, 2015

DENVER — LaSalle Investment Management has purchased 16M, a mixed-use project in Downtown Denver’s LoDo (lower downtown) district, for an undisclosed sum. The Class AA property will be located at the southwest corner of the 16th Street Mall and Market Street. The 189,284-square-foot trophy property features ground-floor restaurant space, five stories of office space and 36 luxury apartments on the upper four floors. It also contains a rooftop terrace, fitness center and three levels of underground parking. The new development will serve as the regional headquarters of Morgan Stanley, D.A. Davidson and The ONE Group, which operates upscale restaurants and lounges. It will also be home to the first U.S. location of STK Rebel, an upscale, trendy steakhouse that is sister properties with the popular restaurant STK. 16M will also feature Panera Bread and Garbanzo Mediterranean Grill. This is the third property LaSalle has acquired within the LoDo market. It purchased Millennium Financial Center and Writer Square in September 2013.

July 15, 2015

Colorado Retail Western

Retail Strip Center in Pueblo Sells for $3M

by Nellie Day June 25, 2015

PUEBLO, COLO. – A 7,371-square-foot retail strip center in Pueblo has sold to a local private investor for $3 million. The center is located at 1425 US Highway 50 West. It is full occupied by McAlister’s Deli, Papa John’s Pizza and Open MRI. The McAlister’s Deli franchisee has agreed to enter into a new 15-year, triple-net master lease once this transaction has closed. It will contain two, 10-year renewal options. The buyer was represented by Drew Isaac and Howard Stark of Marcus & Millichap’s Denver office. The seller, a private investor, was represented by Barry Higgins and David Lee of the same firm.

June 25, 2015

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