Colorado

MMCC Arranges $4.7M Loan for Refinancing of Colorado Springs Medical Office Building

by Amy Works December 6, 2024

COLORADO SPRINGS, COLO. — Marcus & Millichap Capital Corp. (MMCC) has arranged a $4.7 million loan for the refinancing of a medical office building located at 2860 S. Circle Drive in Colorado Springs. Tenants at the medical office include a mental health clinic, a counseling clinic, an esthetic clinic, an acupuncture clinic and a treatment center. Garrett Fierstein of MMCC secured the financing with a local credit union on behalf of a private client. Terms of the 10-year loan include a 6.75 percent fixed interest rate with a 25 year-amortization schedule and a loan-to-value ratio of 65 percent.

December 6, 2024

Acquisitions Colorado Industrial Western

IOV Acquires 10th Industrial Outdoor Storage Facility in Denver Market

by Amy Works December 4, 2024

DENVER — Industrial Outdoor Ventures (IOV) has acquired its 10th property in the Denver area with the purchase of 3750 Nome Street, a 4.9-acre industrial outdoor storage site in Denver’s Airport Central submarket. Terms of the transaction were not released. The property includes a 24,000-square-foot warehouse with a clear height of 22 feet, two drive-in doors and four dock-high positions, as well as a 7,000-square-foot standalone office with additional storage and a private garage. At the time of acquisition, the property was vacant and on the market for lease. Sam Dragan and Mike Camp of CBRE represented the buyer and undisclosed seller in the deal.

December 4, 2024

Acquisitions Colorado Retail Western

Boulder Group Brokers $1.9M Sale of Star Buds Dispensary Property in Fort Collins, Colorado

by Amy Works December 4, 2024

FORT COLLINS, COLO. — The Boulder Group has brokered the sale of a single-tenant retail property located at 5740 S. College Ave. in Fort Collins. A Midwest-based real estate development and investment company sold the asset to a local Colorado-based investor for $1.9 million. Star Buds, a cannabis dispensary, occupies the 4,861-square-foot property on a long-term, triple-net lease with rental increases every five years. The lease is guaranteed by Medicine Man Technologies, a publicly traded company that does business as Schwazze. The company is a vertically integrated cannabis company with approximately 35 dispensaries, six grow facilities and two manufacturing plants. Zach Wright and Brandon Wright of The Boulder Group represented the seller in the transaction.

December 4, 2024

Acquisitions Colorado Multifamily Western

Century Living Sells 227-Unit Multifamily Community in Highlands Ranch, Colorado to Equity Residential

by Amy Works November 27, 2024

HIGHLANDS RANCH, COLO. — Century Living has completed the sale of Aventine Littleton, an apartment property in Highlands Ranch, a community about 18 miles south of Denver. Equity Residential acquired the asset for an undisclosed price. Terrance Hunt, Shane Ozment, Chris Hart and Brad Schlafer of CBRE represented the seller in the deal. Located at 2503 Primo Road, the five-building community offers 227 one-, two- and three-bedroom units averaging 1,028 square feet. The apartments offer stainless steel appliances, quartz countertops, smart-home technology and managed Wi-Fi, walk-in closets, full-size washers and dryers and roller shades. Additionally, select units offer balconies with views of the mountains and downtown. Community amenities include a fitness center, lap pool, hot tub, sunroom, outdoor community kitchen, clubhouse, conference room, workspaces, pet spa, storage units, 26 detached garages, 74 attached garages and 328 surface parking spaces.

November 27, 2024

Acquisitions Colorado Multifamily Western

Trailbreak Partners, Quannah Partners Buy Kabin Apartments at TAXI in Denver

by Amy Works November 26, 2024

DENVER — Trailbreak Partners and Quannah Partners have acquired Kabin Apartments, a multifamily building located within Zeppelin Development’s TAXI project in Denver’s River North Art District (RiNo). The partnership purchased the community from Zeppelin Development for an undisclosed price. Located at 2095 31st St., Kabin Apartments offers 194 residences. The 28-acre mixed-use TAXI Campus features 10 buildings, more than 110 businesses, including BOA Technology’s global headquarters, and more than 350 full-time residents. Campus-wide amenities include a shipping container pool, sand volleyball court, community gardens, bike storage, dog parks, retail spaces, 24/7 security and a 7,000-square-foot fitness center. Dorit Fischer and Hayden Hirschfeld of NAI Shames Makovsky represented Zeppelin Development in the deal.

November 26, 2024

Acquisitions Colorado Retail Western

Marcus & Millichap Arranges Sale of 78,571 SF Oakbrook Shopping Center in Littleton, Colorado

by Amy Works November 22, 2024

LITTLETON, COLO. — Marcus & Millichap has brokered the sale of Oakbrook Shopping Center, a retail property located at 309-311 E. County Line Road in Littleton. The property consists of a 30,466-square-foot neighborhood strip center, fully leased to 15 tenants, and a 48,214-square-foot anchor space, which is occupied by O’Reilly Auto Parts Super Hub. The assets sold in separate transactions to different buyers for a combined total of $13.5 million. Ryan Bowlby and Drew Isaac of Marcus & Millichap’s Denver office represented the seller, Denver-based Sidford Capital, in the transaction.

November 22, 2024

Acquisitions Colorado Multifamily Western

Thompson Thrift Divests of Citadel at Castle Pines Multifamily Property Near Denver

by Amy Works November 19, 2024

CASTLE PINES, CALIF. — Thompson Thrift has completed the disposition of Citadel at Castle Pines, a 214-unit apartment community in the Denver suburb of Castle Pines. Terms of the transaction were not released. Matt Barnett, Jake Young and Taylor Payne of Walker & Dunlop brokered the sale. Located at 353 Edge View Circle, Citadel at Castle Pines features 154 one- and two-story paired villa-style homes and 60 three-story townhomes. Completed in December 2023, the one-, two-, three- and four-bedroom apartments include designer interiors, quartz countertops, stainless steel and energy-efficient appliances, attached garages and full-size washers/dryers. Community amenities include a resident social lounge, pickleball courts, a 24/7 fully equipped fitness center, resort-style pool and spa, poolside cabanas and grills, a dog park and dog spa.

November 19, 2024

Acquisitions Colorado Hospitality Western

Marcus & Millichap Negotiates Sale of 94-Room Extended-Stay Hotel in Westminster, Colorado

by Amy Works November 18, 2024

WESTMINSTER, COLO. — Marcus & Millichap has negotiated the sale of Residence Inn by Marriott Denver North Westminster, Colorado in Westminster, a suburb 12 miles north of Denver. Dallas-based NewcrestImage sold the extended-stay hotel to Archer Capital Group for an undisclosed price. Chris Gomes of Marcus & Millichap represented the seller. Gomes, along with Allan Miller and Christy McDougall of Marcus & Millichap, procured the buyer. Adam Lewis is Marcus & Millichap’s broker of record in Colorado. Located at 5010 W. 88th Place, the four-story Residence Inn by Marriott offers 94 extended-stay suites with kitchens, separate living areas and modern amenities.

November 18, 2024

Colorado Loans Multifamily Oregon Western

BWE Arranges $260M Loan for Refinancing of National Multifamily Portfolio

by Kristin Harlow November 14, 2024

DENVER AND BEAVERTON, ORE. — BWE, the commercial finance firm formerly known as Bellwether Enterprise Real Estate Capital, has arranged a $260 million loan for the refinancing of a national portfolio of six multifamily properties totaling roughly 1,500 units. Two of the properties — Hartley Flats and Studio LoHi — are located in Denver, and a third, Victory Flats, is located in Beaverton, Ore. The other properties in the portfolio are in Austin and Charlotte. All properties were constructed within the past decade, and the portfolio had an occupancy rate of approximately 95 percent at the time of the loan closing. Northwestern Mutual provided the five-year loan, which was structured with a 5.07 percent interest rate, full-term interest-only payments and a 55 percent loan-to-value ratio. The borrower was not disclosed.

November 14, 2024

Acquisitions Colorado Loans Retail Western

KPR Centers Receives $33.9M in Financing to Acquire University Hills Retail Center in Denver

by Amy Works November 14, 2024

DENVER — KPR Centers has received $33.9 million in financing for the acquisition of University Hills, a grocery-anchored shopping center in Denver. The name of the seller and final sales price were not released. Sunny Sajnani and Travis Headapohl of Institutional Property Advisors (IPA) Capital Markets arranged the five-year life company financing, which includes fixed-rate, full-term interest-only payments and prepayment open at par for the last year. Tom Lagos of IPA retail investment sales procured the buyer in the sales transaction. At the time of sale, University Hills was fully occupied. Tenants include King Soopers, Michaels, Marshalls, Office Depot and Ulta.

November 14, 2024

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