Colorado

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CHICAGO AND NEW YORK CITY — Equity Residential (NYSE: EQR) has agreed to acquire an 11-property apartment portfolio from Blackstone (NYSE: BX) for $964 million. The acquisition is the largest U.S. multifamily purchase by any public real estate investment trust in the past seven years, according to reports by The Wall Street Journal.  The portfolio includes four properties totaling 1,357 units in Atlanta; four properties totaling 1,237 units in the Dallas/Fort Worth metropolitan area; and three properties totaling 978 units in Denver. Further details on the communities were not disclosed.  The properties were attractive to Equity Residential — one of the largest owners of multifamily assets in the U.S. with 79,738 units across 299 properties — due to their locations in markets where the Chicago-based firm is targeting growth, as well as the properties’ appeal to high-end renters. The acquisition is expected to close in the third quarter and will include separate transactions with Blackstone Real Estate Income Trust, Blackstone Real Estate Partners and Blackstone Property Partners. Eastdil Secured, RBC Capital Markets, Santander and Sumitomo Mitsui Banking Corporation (SMBC) acted as Blackstone’s financial advisors in the transaction. Simpson Thacher & Bartlett served as Blackstone’s legal counsel. Neal Gerber & Eisenberg, Hogan …

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Rampart-Center-Englewood-CO

ENGLEWOOD, COLO. — Libitzky Property Cos. has completed the sale of Rampart Center, a two-building asset in Englewood, just south of Denver. River Rise Capital acquired the asset for $18 million. Located at 7173 and 7245 S. Havana St., Rampart Center offers 100,455 square feet of office/flex space spread across two buildings. The single-story properties were originally built in 1999 and have gone through recent improvements, including the addition of a fitness center. At the time of sale, Rampart Center was 94 percent leased to five tenants in a variety of industries, including government services, healthcare, engineering and co-working. Larry Thiel and Sean Whitney of JLL Capital Markets’ investment sales and advisory team represented the seller in the deal.

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Atrium-Plaza-Greenwood-Village-CO

GREENWOOD VILLAGE, COLO. — DPC Cos. has purchased Atrium Plaza, an office building in the Denver suburb of Greenwood Village, for $5 million. The buyer, which specializes in the acquisition and development of commercial property in Colorado, Arizona and the Rocky Mountains Region, plans to use the property at 5675 DTC Blvd. as its new headquarters. Denver-based THK Associates will occupy 8,800 square feet of space the property.

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300-E-Fremont-Pl-Littleton-CO

LITTLETON, COLO. — Brixton Capital has purchased Parkside at Littleton Village, a multifamily property at 300 E. Fremont Place in Littleton, a suburb south of Denver. Terms of the transaction were not released, but Brixton plans to rebrand the property. Built in 2022, the community offers 114 units, with an average unit size of 1,215 square feet and ceiling heights from nine to 13 feet. Community amenities include a clubhouse, café, outdoor fireplaces, secure controlled entry doors and elevators, and an entertainment and game room. Additionally, the property offers a pet park, playground, co-working spaces with Wi-Fi, garage parking with electric vehicle charging stations, a fitness center, package lockers and outdoor barbecue areas. Brixton will partner with Sares-Regis to manage daily operations at the property. Matt Barnett of Walker & Dunlop represented the seller, while Brixton was self-represented in the deal.

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2555-W-Midway-Blvd-Broomfield-CO

BROOMFIELD, COLO. — Mile High Labs has completed the disposition of 2555 W. Midway Boulevard, a R&D and manufacturing property within Atlas Industrial Park in Broomfield, a suburb north of Denver. ScanlanKemperBard acquired the asset for an undisclosed price. Situated on 20 acres, the 436,534-square-foot asset features a 411,034-square-foot building and a 25,500-square-foot building. The buildings offer office, manufacturing, processing, packaging, laboratory and climate-controlled warehouse areas, as well as general engineering areas and an employee cafeteria. Additionally, the buildings collectively feature nearly 12,000 amps of power. Rick Egitto of Avison Young, along with Justin Rayburn of Fountainhead Commercial, represented the seller, while the buyer was self-represented in the deal.

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3710-Astrozon-Blvd-Colorado-Springs-CO.jpg

COLORADO SPRINGS, COLO. — The LeClaire-Schlosser Group of Marcus & Millichap has arranged the sale of Astrozon Self Storage, a self-storage facility in Colorado Springs. Terms of the transaction were not released. Located at 3710 Astrozon Blvd., the 53,200-square-foot facility features 668 single-story, drive-up access units. Charles LeClaire and Adam Schlosser of Marcus & Millichap’s Denver office represented the seller, a local limited liability company, and secured the buyer, a New York-based, privately held real estate investment company, in the deal.

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Lowry-Pines-Denver-CO

DENVER — Kaufman Hagan Commercial Real Estate has arranged the sale of Lowry Pines, an apartment complex at 835 S. Quebec St. in Denver. The asset traded for $5.1 million, or $151,471 per unit. Lowry Pines offers 34 apartments and an interior courtyard. Andrew Vollert and Brandon Kaufman of Kaufman Hagan Commercial Real Estate represented the seller in the deal.

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MorningStar-Old-Town-Fort-Collins-CO

FORT COLLINS, COLO. — Co-developers MorningStar Senior Living and Haselden Real Estate Development have opened MorningStar at Old Town, a seniors housing property in Fort Collins. The companies partnered with local landowner and developer J.D. Padilla to develop the asset in Old Town Fort Collins. Located at 360 Tenney Court, MorningStar at Old Town features 160 units for independent living, assisted living and memory care in a four-story residential building. The community offers an indoor pool, a fitness center, therapy space, theatre/chapel and wine tasting room, as well as The Sky Terrace with patios and courtyards in an outdoor space. Project partners included Hord Coplan Macht as architect, Haselden as general contractor and Thoma-Holec as interior designer.

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2153-S-Wabash-St-Denver-CO

DENVER — Malman Commercial Real Estate has brokered the acquisition of an industrial property located at 2153 S. Wabash St. in Denver. Vera Wabash LLC acquired the asset from 2153 South Wabash Street LLC for $3 million. Situated on a 1.2-acre parcel, the 25,356-square-foot property features eight dock-high doors and one drive-in loading door. Taylor Roy of Malman Commercial Real Estate represented the seller, while CJ Toohey, Patrick Henry and Boston Wier of The Henry Group represented the buyer in the deal.

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Northwest-Commerce-Center-Broomfield-CO

BROOMFIELD, COLO. — Ryan Cos. and PGIM Real Estate, on behalf of its U.S. core-plus investment strategy, have formed a joint venture and received financing for the development of Northwest Commerce Center. The Class A industrial development will be located in Broomfield, a suburb north of Denver. Situated within Verve Innovation Park, Northwest Commerce Center will consist of two buildings offering a total of more than 343,000 square feet with 32-foot clear heights, LED lighting, an ESFR sprinkler system, 22 trailer parking spots and heavy power with 4000-amp electrical service. The buildings are designed to accommodate a wide range of tenants such as warehousing, advanced manufacturing and other industrial uses. Ryan is the developer and builder for Northwest Commerce Center. Ware Malcomb is the architect of record. Carmon Hicks, Patrick McGettigan and Jason White of JLL have been selected to market and lease the project. Construction is slated to begin in August, with completion scheduled for second-quarter 2025.

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