Colorado

Liberty Creek Apartments in Aurora Sells for $65M

by Nellie Day October 14, 2015

AURORA, COLO. — Oak Coast Properties and BMC Investments have acquired the 548-unit Liberty Creek Apartments in Aurora for $65 million. The community is located at 13100 E. Kansas Drive. The partners plan to invest $3 million to extensively renovate and reposition the property. Liberty Creek Apartments was originally built in 1981. It is currently more than 99 percent occupied. The pet-friendly community includes five basketball courts, three swimming pools, a sand volleyball court, three playgrounds, picnic and barbecue areas, a fitness center, a clubhouse and business center, a laundry facility, on-site security patrol and covered parking. Liberty Creek is in close proximity to Aurora Town Center, Market Square, Anshutz Medical Campus, Kaiser Center Pointe and Denver International Airport.

October 14, 2015

Colorado Multifamily Western

Lakewood Apartment Community Sells for $2.1M

by Nellie Day October 6, 2015

LAKEWOOD, COLO. — A 24-unit apartment community in Lakewood has sold to an unnamed buyer for $2.1 million. The community is located at 10623-10709 W. 8th Ave. It was built in 1961. Robert Lawson of Pinnacle Real Estate Advisors represented the buyer, while Josh Newell of the same firm represented the seller.

October 6, 2015

Colorado Multifamily Western

Landings at Eagleridge Apartments in Pueblo Sells for $28M

by Nellie Day October 2, 2015

PUEBLO, COLO. — A private individual has purchased the 236-unit Landings at Eagleridge Apartments in Pueblo for $28 million. The community is located at 4749 Eagleridge Circle. Landings at Eagleridge was built in two phases. Phase I was completed in 2002, while Phase II was finished in 2008. Ron, Shane and Ryan Spraggins of Commonwealth represented both the buyer and seller, H.E. Whitlock.

October 2, 2015

Colorado Multifamily Student Housing Western

Cardinal Group to Manage 9Seventy Near the University of Colorado at Boulder

by Nellie Day October 1, 2015

BOULDER, COLO. — Cardinal Group Management will manage 9Seventy in Boulder, located on the east side of the University of Colorado at Boulder. The property is comprised of 138 units across five four-story buildings. Beginning in November 2015, 9Seventy will offer studio, one-, two- and three-bedroom apartment homes. The community will have a resident clubroom with kitchen, outdoor grilling area, views overlooking Chautauqua Park and the Flatirons, swimming pool, fitness center, business center, billiards table and guest patio. Cardinal Group Management will now manage more than 11,000 units in 20 states.

October 1, 2015

Colorado Multifamily Seniors Housing Western

Welbrook, Embree Starts Construction of Skilled Nursing Facility in Colorado

by Nellie Day September 30, 2015

GRAND JUNCTION, COLO. — Welbrook Senior Living and Embree Healthcare Group have started construction of a new transitional rehabilitation facility in Grand Junction, and have secured final financing for the project from CNL Healthcare Properties, a real estate investment trust (REIT) based in Orlando, Fla. The facility, the name of which was not released, will feature 50 private suites. Texas-based Embree is developing the facility, which California-based Welbrook will operate when complete. The companies expect to admit the first resident in the second half of 2016.

September 30, 2015

Colorado Loans Retail Western

Greystone Provides $36M CMBS Loan for Mixed-Use Property in Colorado

by Nellie Day September 29, 2015

AVON, COLO. — Greystone has provided a $36 million CMBS loan for Chapel Square and Benchmark Shopping Center, two adjoining mixed-use properties comprising 200,000-square feet of retail and office space in the resort community of Avon. The property, located at the base of Beaver Creek ski resort, is currently 99.7 percent leased to 44 tenants. Ted Nasca of Greystone originated the 10-year loan with interest-only payments for the first three years and a 30-year amortization schedule.

September 29, 2015

Colorado Multifamily Western

TruAmerica, Investcorp Buy Apartment Community in Denver for $71M

by Nellie Day September 25, 2015

DENVER — TruAmerica Multifamily and institutional capital partner Investcorp have acquired a 561-unit apartment home community in Denver for $71 million. The community is located in the Cherry Creek submarket. TruAmerica plans to complete improvements to the buildings’ exteriors and common areas. This plan was initially undertaken by the previous owner. The units will also receive multimillion-dollar renovations. Brian Eisendrath, Annie Rice and Brandon Smith of CBRE Capital Markets arranged the financing. CBRE’s David Potarf, Dan Woodward and Matt Barnett represented the unnamed seller.

September 25, 2015

Colorado Multifamily Western

Private Investor Buys Denver Apartment Building for $2.1M

by Nellie Day September 24, 2015

DENVER — A private investor has acquired a 20-unit apartment building in Denver for $2.1 million. The community is located at 2366 S. Linden Court and 2337, 2351, 2367, 2387 S. Locust St. It is situated near downtown Denver and the Denver Tech Center. The property is two miles east of the University of Denver. Greg Price and Clayton Primm of Marcus & Millichap represented the seller, another private investor.

September 24, 2015

Colorado Loans Multifamily Western

HFF Arranges $41.8M in Financing for Del Arte Lofts and Flats near Denver

by Nellie Day September 18, 2015

AURORA, COLO. — HFF has arranged $41.8 million in financing for the 351-unit Del Arte Lofts and Flats in Aurora. The community is located at 151 South Joliet Circle, about nine miles southeast of Denver’s central business district. Del Arte is currently 93 percent leased. It is situated near the Lowry Air Force Base and the 578-acre Fitzsimons/Anschutz Medical Campus. The seven-year loan features a 2.28 percent adjustable rate with three years interest-only payments. HFF’s Josh Simon and Eric Tupler arranged the financing with Freddie Mac on behalf of Advenir.

September 18, 2015

Colorado Loans Multifamily Seniors Housing Western

CBRE Arranges $36.3M Construction Loan for CCRC Near Denver

by Nellie Day September 17, 2015

LAKEWOOD, COLO. — CBRE National Seniors Housing has secured a $36.3 million loan for the construction of The Village at Belmar, a 156-unit continuing care retirement community (CCRC) planned in Lakewood in metro Denver. The project is a joint venture between Blue Moon Capital Partners, providing the institutional equity; GH Phipps Construction Company, the general contractor and co-developer; and Ascent Living Communities, co-developer and future operator of the community. Situated on 7.6 acres, Village at Belmar will include 72 assisted living units and 24 memory care units located within a three-story, 83,000-square-foot building, along with 60 independent living units to be located in 15 buildings that are approximately 107,000 square feet. Aron Will, executive vice president of CBRE National Senior Housing, arranged the five-year, floating-rate loan with limited recourse. The loan features 36 months of interest-only payments.

September 17, 2015

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