DENVER — Pinnacle Real Estate Advisors has brokered the sale of a 24,178-square-foot industrial building located at 501-521 Kalamath St. in Denver. The asset traded for $4.1 million. Paul Nora and Jamie Mitchell of Pinnacle Real Estate Advisors represented the undisclosed seller in the transaction. The name of the buyer was not released.
LONGMONT, COLO. — Thompson Thrift plans to develop Heritage on Hoover, a Class A apartment property in Longmont, a suburb of Boulder. Construction of the 324-unit community is slated for completion in winter 2026. Located near the intersection of Mountain Brook Drive and South Hover Street, Heritage on Hover will feature three-story buildings with one-, two- and three-bedroom layouts averaging nearly 1,000 square feet. Apartments will include quartz countertops, stainless steel appliances, side-by-side refrigerators, full-size washers and dryers, large walk-in closets and multiple smart home capabilities. Additionally, select residences will feature cabinetry with soft-close doors, deluxe closet systems with shelving, premium lighting, dry bars and advanced smart home capabilities. Private patios, balconies, yards and detached garage options will also be available. Community amenities will include an outdoor entertainment kitchen and grilling areas, a fully equipped 24-hour fitness center, resort-style heated swimming pool and spa, electric firepits with seating areas, a billiards and shuffleboard area, a dog park, bike storage and a Starbucks Coffee bar. Additionally, the community will include focus suites and community-wide Wi-Fi, as well as an on-site service team, valet trash service and a user-friendly mobile app. Thompson Thrift 2024 Multifamily Development Fund LP provided equity for the development.
AURORA, COLO. — Brinkmann Constructors, in partnership with United Properties, has broken ground on a speculative industrial project situated on 169 acres in Aurora. Spanning 817,500 square feet, the Aero70 project will include two speculative warehouses, over-lot grading and pad preparation for two future buildings, as well as associated private site civil infrastructure. Additionally, Brinkmann will build nearly two miles of public off-site infrastructure, including roads and utilities, to connect the site to the city’s existing systems.
DENVER — Louisville, Colo.-based Real Capital Solutions (RCS) has acquired Belleview Tower, a 12-story Class B+ office building in Denver’s Tech Center, for $20 million from an undisclosed seller. Totaling 201,670 square feet, Belleview Tower was 75 percent leased at the time of sale. The property features recently renovated corridors, amenities and a lobby. RCS will continue upgrading the property’s amenity package, including enhancements to the fitness center and common areas. The asset is located at 7887 E. Belleview Ave. Charley Will of CBRE brokered the transaction.
AURORA, COLO. — Argus Self Storage Advisors has arranged the sale of Guardian Storage Aurora, a Class A self-storage facility in Aurora. Terms of the deal were not released. Located at 3633 Walden Circle, the 87,438-square-foot property offers 742 climate-controlled units within exterior, drive-up access buildings. Built in 2019, Guardian Storage Aurora was 90 percent occupied at the time of sale. Ben Vestal, Cole Carosella and Matthew Cox of Argus Self Storage Advisors facilitated the transaction.
DOVE CREEK, COLO. — Pinnacle Real Estate Advisors has arranged the sale of a retail property located at 468 US-491 in Dove Creek. The asset traded for $1.4 million. Family Dollar and Dollar Tree currently occupy the 10,500-square-foot asset. Peter Sengelmann of Pinnacle Real Estate Advisors represented the buyer in the transaction.
DENVER — CBRE has arranged the sale of Denver Cascade, a manufacturing home community in Denver. Denver Cascade LLC sold the asset to an undisclosed buyer for $62 million. Situated on 48 acres at 9650 Federal Blvd., Denver Cascade offers 382 home sites. Norm Sangalang, Erik Edwards, Jon Shay, Jez Lawson and Myles McGinnis of CBRE’s Manufactured Housing & RV Resorts team represented the seller in the deal.
AURORA, COLO. — Consolidated Investment Group has obtained $17.7 million in financing for Eastpark 70’s Buildings 5 and 6, a two-building Class A industrial portfolio in Aurora. Rob Bova and William Haass of JLL Capital Markets secured the fixed-rate, five-year loan for the borrower. Completed in 2022, the 235,987-square-foot portfolio consists of buildings located at 19822 E. 22nd Ave. and 19922 E. 22nd Ave. The facilities offer 32-foot clear heights, ample dock-high and drive-in loading and ESFR sprinkler systems. The properties are fully leased to three tenants.
LOVELAND, COLO. — Hunt Midwest has sold Capstone at Centerra, an assisted living and memory care property in Loveland, to California-based IRA Capital for $40 million. Completed and opened in 2023, Capstone at Centerra is Hunt Midwest’s most recent Capstone senior living development and the company’s first development in Colorado. The community offers 102 studio, one- and two-bedroom apartments with granite countertops, stainless steel appliances and high-quality flooring. Capstone at Centerra includes a full-service dining room, fitness center, landscaped outdoor spaces, a salon, library, game room and scheduled transportation services. Capstone at Centerra is the third Capstone senior living community developed by Hunt Midwest, including the Capstone at Royal Palm in Royal Palm Beach, Fla., and Capstone at Station Camp in Gallatin, Tenn. Charles Bissell and Tony Hong of BWE Investment Sales represented Hunt Midwest in the transaction.
DENVER — BMC Investments and Rockpoint have broken ground on The Oasis Apartments at Cherry Creek North at 299 Milwaukee St. in Denver. BMC and Rockpoint formed a partnership in April 2022 to purchase and develop the site. The project will feature 177 residential units, 28,000 square feet of ground-floor retail space and a 6,000-square-foot public park with fountains at the corner of Third Avenue and Milwaukee Street. Community amenities will include a rooftop pool, fitness center, coworking space and resident lounge. Site work is underway with vertical construction expected to start in February 2025. Completion is slated for early 2027. Shears Adkins Rockmore is serving as architect and The Beck Group is serving as general contractor. Sam Zaitz of JLL and Julie McBrearty of SullivanHayes are handling leasing for the project’s retail space.
