CLIFTON, COLO. — Inspire Communities has purchased the 431-site Candlewood Park MHC in Clifton for an undisclosed sum. The all-age manufactured housing community is located at 424 32 Road, adjacent to Grand Junction. KeyBank Real Estate Capital provided financing for the deal. Inspire Communities represented itself in this transaction. Jeff Mueller of Mueller & Hoffman represented the seller. Inspire Communities also recently purchased the 477-site Whisper Creek RV Resort in Fort Myers, Fla. “These investments fit our criteria for acquiring market-leading manufactured housing communities where we can add homes and improve operations,” says Erik Rollain, Inspire Communities’ CIO. “We are excited to acquire our second RV resort and we hope to make additional investments in Florida and in Colorado.”
DENVER — Prologis has purchased a 40-acre industrial site in Central Denver for an undisclosed sum. The infill site is located at 6030 Washington St. The area is undergoing a significant redevelopment, which may displace a number of industrial tenants who will need to seek out new spaces within the area. Some of the most notable projects include the redevelopment of the National Western Stock Show, the reconstruction of I-70 between Brighton and Colorado boulevards and the continued transformation of the RiNo district. Matt Trone, Steve Hager and Sam Slaton of Cushman & Wakefield represented the seller, Northwest Pipe Co., in this transaction. The team will also act as Prologis’ leasing agents.
AURORA, COLO. — KeyBank Real Estate Capital has arranged $55.3 million in acquisition financing to the 467-unit Highline Village Apartment Homes in Aurora. The community is located at 490 S. Joplin St. It was built in 1984. Tim DeWispelaere arranged the financing.
DENVER — Oak Coast Properties has acquired Pembrooke on the Green Apartments, a 959-unit multifamily community located in Denver, for $129 million. The 37-building property is located at 10700 E. Dartmouth Ave., close to the Denver Technological Center, downtown Denver, Fitzsimons Life Science District and Denver International Airport. The community was 95 percent occupied at the time of sale, and offers a mix of studio, one- and two-bedroom units with fireplaces, frost-free refrigerators and walk-in closets. Shared amenities at the complex include a barbecue and picnic area, a business center, carports, two clubhouses, community kitchen, dog park, fitness center, two heated swimming pools, sauna, laundry rooms, playground, soccer field, splash park and walking path. The company has set aside $1.9 million for capital improvements, which will include upgrades to landscaping and outdoor furniture; concrete and stair repairs; roof and gutter repairs; steel fixes; exterior upgrades to the leasing office, pools, clubhouses and laundry rooms; and mechanical work including electrical and plumbing. Renovations are scheduled to begin immediately. Charles Halladay, Lee Redmond and Brock Yaffe of HFF’s debt placement team assisted in securing a $103 million Freddie Mac loan for the acquisition of the property. Miami-based Pensam Residential provided a portion of the …
DENVER — Family casual-dining franchise Quaker Steak & Lube has increased its franchise development efforts and is seeking entrepreneurs interested in opening multiple restaurants in Colorado. The chain also plans to expand within Florida, Indiana, Kentucky, Michigan, Ohio, Pennsylvania, South Carolina, Tennessee and Wisconsin. Earlier this year the TA Restaurant Group acquired Quaker Steak & Lube. The TA Restaurant Group is a division of TravelCenters of America, a Fortune 500 company. The more than 750 locations in the TA Restaurant Group’s operation include 10 proprietary and nearly 30 franchised restaurant brands nationwide. Quaker Steak & Lube, founded over 40 years ago in Pennsylvania in a renovated filling station, now includes over 50 locations in 14 states across the U.S. Since opening its first restaurant in 1967, the TA Restaurant Group includes more than 750 quick-service restaurants, full-service restaurants and other food outlets. The TA Restaurant Group is a division of TravelCenters of America LLC, which offers diesel and gasoline fueling, restaurants, truck repair facilities, convenience stores and other services in 43 states and in Canada.
BROOMFIELD, COLO. — CraftWorks Restaurants & Breweries Inc., an operator of brewery restaurant chains, has acquired seven existing Old Chicago Pizza & Taproom locations from longtime franchise partner OCI Enterprises Inc. The locations will remain open for business. In 2015, Old Chicago launched its new restaurant prototype — a 5,000-square-foot build with an additional 1,000 to 1,200 square feet of outdoor patio space, a new kitchen and upgraded bar technology. CraftWorks Restaurants & Breweries Inc. features nearly 200 franchised and company-owned restaurants primarily operating under the Old Chicago Pizza & Taproom, Gordon Biersch Brewery Restaurants, Rock Bottom Restaurants & Breweries and ChopHouse & Brewery brands.
DENVER — Columbia Sussex Corp. has received a $70 million loan to finance the 451-room Hyatt Regency Denver Tech Center. The hotel is located at 7800 E. Tufts Ave. in the Technological Center submarket of Southeast Denver. The area is home to about 11 million square feet of office space and about 1,000 companies. Hyatt Regency Denver Tech Center features 29,600 square feet of function space, a 533-space parking garage, the Root25 Taphouse & Kitchen, Perks coffee shop, Hyatt StayFit fitness center and an indoor swimming pool with outdoor sun deck. The hotel has operated as a Hyatt Regency since it was built in 1985. It recently underwent a $12.5 million renovation to transform the lobby, upgrade the common areas and introduce the signature restaurant and lounge. Rob Rubano and Greg Stampley of Eastdil Secured arranged the financing. Square Mile Capital Management LLC originated the transaction, and brought in Natixis to acquire the $52.5 million senior mortgage component of the debt. Columbia Sussex acquired the asset from JMI Realty.
PARKER, COLO. – An unnamed buyer has purchased a 6,406-square-foot mixed-use property in Parker for $1.3 million. The property is located at 18575 Stage Run Road. It consists of retail and office space. The new owner plans to relocate an existing hair salon to the center, as well as add a full-service spa. Construction is set to commence immediately for the new tenants. Mitch Trevey and Nick Nickerson of Trevey Land and Commercial represented the seller, Martinez Global International, in this transaction.
DUBLIN, CALIF. — Ross Stores has opened 25 Ross Dress for Less and nine dd’s DISCOUNTS stores across 16 different states in September and October. These new locations round out the company’s 2016 expansion plans to add approximately 90 locations during the year. Ross Stores, Inc. is headquartered in Dublin, Calif., with 1,342 stores in 36 states, the District of Columbia and Guam. The company also currently operates 193 dd’s DISCOUNTS in 15 states.
DENVER – HFF has arranged $30.6 million in financing for Tuscany Plaza, a 260,000-square-foot office property in the southeastern Denver suburb of Greenwood Village. The Class A plaza is located at 6312 S. Fiddlers Green Circle. The asset sits adjacent to the Arapahoe at Village Center light rail station. Tuscany Plaza is 90 percent leased to tenants like Red Robin and Xanterra Parks and Resorts. HFF’s Jim Curtin and Eric Tupler arranged the seven-year, 3.45 percent, fixed-rate loan through a correspondent life insurance company. The borrower was Crescent Real Estate LLC.