BOULDER, COLO. – Walnut Business Center, a 113,594-square-foot industrial/flex property in Boulder, has received $6.5 million in permanent financing. The center is located at 3201-3297 Walnut Street, 3220-3240 Prairie Ave. and 1925-1965 33rd Street. The eight-tenant center is fully leased. Financing was arranged by Steve Bye and Brian Fisher of NorthMarq Capital’s Denver office through the firm’s correspondent relationship with a life insurance company.
DENVER – Molson Coors Brewing Co. has leased 53,872 square feet in Denver. The 1.3-million-square-foot building is located at 1801 California Street in the city’s Central Business District. Molson Coors was represented by Ted Harris and Travis Young of Cassidy Turley. The landlord, Brookfield Office Properties, was represented by Nicholas Pavlakovich and David Sternberg of Cushman & Wakefield.
ARVADA, COLO. – The 12-unit Scandia Apartments in Arvada has sold to a local buyer for $1.2 million. The community is located at 9990-10000 W. 59th Place. It was built in 1959. Scandia was fully leased at the time of sale. Joe Hornstein represented the buyer, while the local seller was represented by Josh Newell, both of Pinnacle Real Estate Advisors.
DENVER — An entity related to ASAP Holdings has purchased the 263-room Sheraton Denver Tech Center for an undisclosed sum. The full-service hotel is located at 7007 South Clinton Street in the Greenwood Village submarket. The Sheraton features more than 12,000 square feet of function space, a restaurant/lounge, a fitness center and outdoor pool. It will continue to be operated by Interstate Hotels & Resorts. The seller was an investment group that included funds affiliated with Varde Partners, Waramaug Hospitality and Interstate Hotels. The transaction was executed by Mike Dube, Geoff Davis and Mike Cahill of HREC Investment Advisors.
DENVER — The Radco Cos. has acquired the 322-unit Summit at Thornton apartment community for $28.2 million. The community is located at 101 E. 88th Ave. in Thornton, just north of Denver. Summit at Thornton was built in 1973. It is the second asset Radco has acquired in the Greater Denver area over the past four months. The company plans to upgrade and rebrand the property. The institutional seller invested significant capital to improve Summit at Thornton in 2011. It was represented by ARA’s Terrance Hunt, Shane Ozment, Doug Andrews, Jeff Hawks and Anna Stevens.
DENVER – A 23-unit apartment building in Denver has sold to an unnamed buyer for $3.4 million. The community is located at 2701 Federal Blvd. It was built in 1971. The buyer was represented by Saratoga Property Advisors. The seller, Cedarbridge Apartments LLC, was represented by the Calame Lewallen Team at Pinnacle Real Estate Advisors.
BROOMFIELD, COLO. – The 51-unit Villagio Senior Living has broken ground in Broomfield. The memory care continuum community is located at 5866 West 120th Ave. Common-area amenities include 24-hour care, a gourmet dining experience and community programs. The new community is expected to open next fall. The community will be designed by Van Tilburg, Banvard & Soderbergh and built by Pinkard Construction. It is being developed by Blackwood Development and Choice Capital Partners.
DENVER – Security Properties has acquired the 120-unit Dayton Meadows Apartments in Denver for an undisclosed sum. The affordable housing community is located at 1479 S. Dayton Street. The company recently secured an allocation of Low Income Housing Tax Credits from Colorado Housing and Finance Authority that will allow it to rehabilitate the community. Construction is slated to begin in December and wrap in June 2015.
DENVER – An 8,048-square-foot retail building at the Promenade at Denver West development has sold to an unnamed buyer for $4.3 million. The building is located at 14650 West Colfax in the Lakewood suburb. It contains three tenants, including Native Foods, Elements Message and Nekter Juice Bar. The newly constructed property is adjacent to Colorado Mills Mall. The unnamed seller was represented by Tom Ethington and Rob Edwards of Pinnacle Real Estate Advisors.
DENVER –The Confluence, an ultra-luxury, 288-unit apartment community, has broken ground in Denver. The high-rise tower will be located at 2166 15th Street, in the Lower Downtown (LoDo) District. The new project is named after its unique location: at the confluence of the South Platte River and Cherry Creek. It will feature a mix of studio to three-bedroom units that range in price from $1,500 to $12,000 per month. The new multifamily high-rise will be the tallest building in Riverfront Park once it’s completed. It is being designed by GDA architects. The glass apartment tower will feature common-area amenities that include a large terrace with a saltwater infinity-edge pool, underwater sound system, heated Jacuzzi, outdoor cabanas and fire pit, Skyline Lounge with catering kitchen, fitness center, concierge, a dog washing station and a 24-hour coffee bar. All homes feature views of either Downtown Denver or the Rocky Mountains. The ground floor of the building is intergraded into Confluence Park, which contains more than 8,000 square feet of high-end, ground-floor retail and restaurant space. It includes access to the trails along Cherry Creek and the South Platte River. The Confluence is being developed by a joint venture between PM Realty Group …
