REBusinessOnline

Greystar Acquires 150-Unit Griffis at Lowry Apartment Community in Denver for $45.7M

DENVER — Irvine, Calif.-based Greystar has purchased Griffis at Lowry, a multifamily property located at 9649 E. Fifth Ave. in Denver’s Lowry neighborhood. Denver-based Griffis Residential sold the asset for $45.7 million. Built in 2011, Griffis at Lowry consists of eight rental buildings situated on 6.2 acres. Originally planned as a condominium development, the 150 units feature an average size of 1,130 square feet, in-unit full-size washers/dryers, at least nine-foot ceilings and …

NKF Negotiates $10.1M Sale of Roundhouse Retail Property in Colorado Springs

COLORADO SPRINGS, COLO. — Newmark Knight Frank Colorado has arranged the sale of a Roundhouse, a retail building located at 600 S. 21st St. in Colorado Springs. CWC Income Properties 6 LLC acquired the property from 600 S. 21st LLC as an investment asset for $10.1 million. Riki Hashimoto, Dan Grooters, Brian Wagner and Mark O’Donnell of NKF Colorado represented the seller in the

NorthPoint Development Buys 185 Acres for Stafford Logistics Center in Colorado

AURORA, COLO. — NorthPoint Development has closed on 185 acres of land that will be part of the site for Stafford Logistics Center, a 350-acre, 4.4 million-square-foot industrial and mixed-use development in Aurora. The property is located at the confluence of Interstate 70, Expressway 470, East Colfax Avenue and Picadilly Road. NorthPoint has already started construction on a 598,500-square-foot warehouse that is slated for delivery in the second quarter of 2020. Building 1 at Stafford …

JLL Arranges $8.7M in Financing for Two Office/Industrial Buildings in Boulder, Colorado

BOULDER, COLO. — JLL has arranged $8.7 million in bridge financing for the acquisition of two flex buildings in Boulder. The borrower is Ivy Realty. Leon McBroom of JLL Capital Markets team secured the three-year, floating-rate loan with two one-year extensions. A regional lender provided the funds. Located at 5300 and 5305 Sterling Drive, the properties total 46,702 square feet. Beginning in the summer of 2020, Ivy Realty plans to start converting the buildings into creative office space …

Brennan Investment Breaks Ground on 954,111 SF Speculative Industrial Park Near Denver

COMMERCE CITY, COLO. — Brennan Investment Group, a Chicago-based developer, has broken ground on Colorado Logistic Park, a speculative industrial development consisting of five buildings totaling 954,311 square feet. The property is located in Commerce City, a northeastern suburb of Denver. Brennan and New York Life Real Estate Investors, on behalf of an institutional client, formed a joint venture to acquire, construct and lease the project. Brennan has started Phase I of the …

Greystone Provides $179.2M Refinancing for Suburban Multifamily Portfolio Across Three States

FAYETTEVILLE, ARK.; LONGMONT, COLO.; PARKER, COLO.; AND MISSOURI CITY, TEXAS — Greystone has provided $179.2 million in Freddie Mac loans for the refinancing of four suburban multifamily properties totaling 1,188 units in Arkansas, Colorado and Texas. Watermark Residential was the borrower. The properties include: the 306-unit Watermark at Steele Crossing in Fayetteville, Ark.; the 276-unit Watermark on Harvest Junction in Longmont, Colo.; the 294-unit Watermark on Twenty Mile in Parker, …

Unique Properties Brokers $3.3M Sale of Medical Office Park in Colorado

WESTMINSTER, COLO. — Unique Properties/TCN Worldwide has arranged the sale of Front Range Medical Office Park, a four-building property located at 8402-8406 Clay St. and 8403-8407 Bryant St. in Westminster. An undisclosed buyer acquired the complex from an undisclosed seller for $3.3 million, or $253.26 per square foot. Situated on 2.2 acres, the asset features 13,030 square feet of medical office space. At the time of sale, the property was fully occupied by two medical tenants with …

JLL Arranges $20M Refinancing for 61,443 SF Central Park Retail in Metro Denver

DENVER — JLL has secured $20 million in refinancing for Central Park Retail, a multi-tenant retail center located at 1400 Plaza Drive in the Denver-area community of Highlands Ranch, Colo. The borrower is Shea Properties. Completed in 2018, the 61,443-square-foot property is occupied by 21 national and regional tenants, including Ent Credit Union, Rock Bottom Restaurant & Brewery, Shake Shack, Starbucks Coffee, Old Chicago Pizza and Taproom, Torchy’s Tacos and Orangetheory Fitness. …

Pathfinder Partners Buys Value-Add Multifamily Property in Metro Denver for $20.7M

LITTLETON, COLO. — San Diego-based Pathfinder Partners has acquired The Station, a 97-unit multifamily community located at 2100 W. Berry Ave. in Littleton. An undisclosed seller sold the value-add asset for $20.7 million. Constructed in 1983, The Station features 17 studios, 44 one-bedroom and 36 two-bedroom apartments with well-equipped kitchens including over-the-range microwaves, dishwashers and garbage disposals. Additionally, the units feature walk-in closets, private balconies or …

Origin Investments, Massimino Development Break Ground on 280-Unit Farm Haus Apartments in Colorado

LONGMONT, COLO. — A joint venture partnership between Chicago-based Origin Investments and Boulder-based Massimino Development has started construction of Farm Haus Apartments, a $68.8 million multifamily property located in Longmont. Situated on 13.5 acres at Ken Pratt and East Third avenues, the eight-story Farm Haus Apartments will feature 280 units in a mix of one-, two- and three-bedroom apartments. Units will range in size from 761 square feet to 1,412 square feet. Additionally, 12 …

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