REBusinessOnline

Pinnacle Negotiates Sale of 7,514 SF Office Building in Denver for $2.3M

DENVER — Pinnacle Real Estate Advisors has arranged the sale of an office building located at 1666 S. University Blvd. in Denver. An undisclosed seller sold the asset to 1666 S University LLC for $2.3 million. The building features 7,514 square feet of office space. Darrin Revious of Pinnacle Real Estate Advisors represented the buyer in the

Bellwether Enterprise Closes $20.6M Fannie Mae Loan for Affordable Housing Project in Colorado

GYPSUM, COLO. — Bellwether Enterprise Real Estate Capital, the commercial and multifamily mortgage banking subsidiary of Enterprise Community Investment, has closed a $20.6 Fannie Mae loan. The funds will be used for Phase I of Spring Creek Apartments, an affordable multifamily development in Gypsum, 25 miles west of Vail, Colo. Located at 750 Sunny Ave., the first phase of Spring Creek Apartments will include 150 garden-style apartments in a mix of one-, two- and three-bedroom layouts …

CBRE Brokers $4.1M Sale of E Shops at Mesa Ridge in Fountain, Colorado

FOUNTAIN, COLO. — CBRE has arranged the sale of E Shops at Mesa Ridge, a retail center located at 6825 Mesa Ridge Parkway in Fountain. A Los Angeles-based private real estate fund sold the asset to a private discretionary investor for $4.1 million. Built in 2013, the 9,380-square-foot property features five tenant spaces. At the time of sale, the property was fully occupied by Noodles & Co., Sprint, Jersey Mike’s, Sports Clips and H&R Block. Parker Brown, Matthew Henrichs and …

Christian Living Communities Purchases Assisted Living, Memory Care Facility in Colorado

GRAND JUNCTION, COLO. — Christian Living Communities (CLC), a Denver-based nonprofit owner-operator, has purchased Cappella of Grand Junction, an assisted living and memory care community in Grand Junction. Located just east of the Utah border, the community features 66 units in a 52,000-square-foot building. Cappella Living Solutions, the management and consulting division of Christian Living Communities, has operated the community since construction began in 2016 through a development …

CBRE Brokers Sale of Active Adult Housing Community in Colorado for $18.7M

GOLDEN, COLO. — Scottsdale, Ariz.-based The Wolff Cos. has completed the disposition of Clear Creek Commons, an active adult apartment community located at 1027 Washington Ave. in downtown Golden. Colorado Springs-based Griffis/Blessing acquired the 55-plus active seniors housing property for $18.7 million. Built in 2003, Clear Creek Commons features 45 apartments in a mix of one- and two-bedroom layouts, averaging 821 square feet. Each apartment offers a washer/dryer, spacious closets and …

Lowe Purchases 366,184 SF Stanford Place Office Tower in Southeast Denver

DENVER — Lowe has acquired Stanford Place II, an office tower located at 7979 E. Tufts Ave. in southeast Denver, for an undisclosed price. Built in 1982 and situated in the Denver Tech Center, the 18-story building features 366,184 square feet of Class A office space. The property offers 21,000-square-foot floorplates, nine-foot finished ceilings and abundant windows. Hospitality at Work, Lowe’s workplace experience and property management platform, has operated the property on behalf …

Vukota Capital Sells 142-Unit Stratford at Lowry Multifamily Asset in Denver

DENVER — Vukota Capital Management has completed the disposition of Stratford at Lowry, an apartment property located at 425 S. Gelana Way in Denver. Marble Partners and Lion Real Estate Group acquired the asset for an undisclosed price. The buyers plan to rename the property Cleo Apartments. Constructed in 1979, the property features 142 units in a mix of studio, one- and two-bedroom layouts averaging 823 square feet. Situated on 5.5 acres, the community features six two-story and two …

CBRE Negotiates Sale of 633,193 SF Distribution Portfolio Near Denver Airport

AURORA AND COMMERCE CITY, COLO. — CBRE has arranged the sale of the Denver Distribution Portfolio, a three-building industrial portfolio located in Denver’s Airport submarket. A confidential investment firm sold the asset to Bethesda, Md.-based ASB Investment Management for an undisclosed price. The portfolio includes a 406,959-square-foot facility at 22100 E. 26th Ave. in Aurora, an 85,604-square-foot building at 18300 E. 28th Ave. in Aurora and a 140,630-square-foot property at 9410 …

Stonebridge Cos. Opens 382-Room Dual-Branded Hilton Hotel in Downtown Denver

DENVER — Denver-based Stonebridge Cos., as owner and manager, has opened a 22-story, dual-branded hotel in downtown Denver. Located at 801 15th St., the 382-room asset features the 176-key Tru by Hilton Denver Downtown Convention Center and the 206-suite Home2 Suites by Hilton Denver Downtown Convention Center. Property amenities include 3,300 square feet of flexible meeting space with views of the Rocky Mountains, the street-level Tempo Bar, a shared lobby, grab-and-go market, …

Gelt Sells 400-Unit Westhills Apartment Homes Near Denver for $92M

LAKEWOOD, COLO. — Los Angeles-based Gelt Inc. has completed the sale of Westhills Apartment Homes, a multifamily property located at 453 Van Gordon St. in Lakewood, a submarket of Denver. An undisclosed buyer acquired the community for $92 million. Built in 1972 and situated on 16.2 acres, the 27-building property features 400 units in a mix of two studios, 108 one-bedroom layouts and 290 two-bedroom units. Community amenities include two outdoor swimming pools, a fitness center, …

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