Colorado

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

Colorado Multifamily Retail

Stratford Plaza Apartments in Denver Sells for $5M

by Nellie Day January 8, 2016

DENVER — An unnamed buyer has purchased the 60-unit Stratford Plaza Apartments in Denver for $5 million. The community is located at 2005-2095 South Depew St. It was built in 1971. Joe Hornstein and Scott Fetter of Pinnacle Real Estate Advisors represented both the buyer and seller in this transaction.

January 8, 2016

Colorado Loans Retail Western

HFF Arranges $23.7M Financing for Market Center in Downtown Denver

by Nellie Day January 7, 2016

DENVER — HFF has arranged $23.7 million in financing for Market Center, a mixed-use office and retail property totaling 120,736 square feet in downtown Denver. Leon McBroom and Eric Tupler of HFF worked on behalf of the borrower, a joint venture between Urban Renaissance Group, Stars Investments and City Street Investors, to secure the floating-rate financing through First National Denver. The 36-month loan has two 12-month extension options and was used to acquire the asset.

January 7, 2016

Colorado Office Western

Pinnacle Real Estate Advisors Arranges $3M Sale of Woodlake Center

by Nellie Day January 5, 2016

LAKEWOOD, COLO. — Pinnacle Real Estate Advisors has arranged the $3 million sale of Woodlake Center, a 37,741-square-foot, five-building retail and office complex located in Lakewood. Justin Krieger of Pinnacle represented the undisclosed seller, and Josh Newell of Pinnacle represented the undisclosed buyer in the transaction.

January 5, 2016

Colorado Multifamily Western

Wadsworth Arms Apartments in Arvada Sells for $3.1M

by Nellie Day January 4, 2016

ARVADA, COLO. — A local buyer has purchased the 26-unit Wadsworth Arms apartment complex in Arvada for $3.1 million. The community is located at 6700 Wadsworth Arms. It was built in 1957. Josh Newell of Pinnacle Real Estate Advisors represented both the buyer and seller in this transaction.

January 4, 2016

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