DENVER — NAI Shames Makovsky has arranged the purchase of an industrial property located at 6270 E. 50th Ave. in Denver. Albrook Partners acquired the asset from C.C.E. Real Estate LLC for $3.8 million. The property features 34,782 square feet of industrial space. Paul Cattin and Adam Hubschman of NAI Shames Makovsky represented the buyer in the deal.
DENVER — Marcus & Millichap has arranged the sale of a flex industrial building located at 1919 Federal Blvd. in Denver. A private investor sold the asset to an undisclosed buyer for $2.5 million. Situated on 0.4 acres, the 11,600-square-foot property features ample clear heights. Jake Klimas and Brandon Kramer of Marcus & Millichap represented the seller in the deal.
COLORADO SPRINGS, COLO. — Capstone has brokered the sale of Canyon Retreat Apartments, a 5,252-square-foot multifamily property located at 3737 and 3746 Red Canon Place in Colorado Springs. The asset traded for $1.3 million. The names of the seller and buyer were not released. Built in 1955, Canyon Retreat consists of two buildings: an eight-unit building with four studios and four one-bedroom/one-bath apartments, and a two-unit building with two one-bedroom/one-bath apartments with a separate shared laundry space. Adam Riddle and Conor Cavanor of Capstone brokered the transaction.
WINDSOR, COLO. — The LeClaire-Schlosser Group of Marcus & Millichap has arranged the sale of a 7.5-acre parcel in Windsor. The city has already approved plans for a 78,550-square-foot storage facility on the site. A local land developer sold the asset to a local investment group for an undisclosed price. The purchase includes a fully entitled, light industrial-zoned site at 340 Crossroads Blvd. with plans for an enclosed single-story self-storage facility. Thomas Parsons and Adam Schlosser of Marcus & Millichap’s Denver office represented the seller and procured the buyer in the transaction.
WHEAT RIDGE, COLO. — NorthPeak Commercial Advisors has arranged the sale of a 12-unit apartment building located at 3010-3050 Gray St. and 5851-5855 W. 30th Ave. in Wheat Ridge. The asset traded for $2.2 million, or $185,000 per unit. The names of the buyer and seller were not released. Matt Lewallen and Kevin Calame of NorthPeak Commercial Advisors handled the transaction.
DENVER — NorthPeak Commercial Advisors has negotiated the sale of a multifamily property, located at 245 Bannock St. in Denver. The asset traded for $3.7 million, or $244,333 per unit. The 11,019-square-foot building feature 15 apartments. Joe Hornstein and Scott Fetter of NorthPeak represented the undisclosed seller, while Kevin Calame and Matt Lewallen of NorthPeak represented the undisclosed buyer in the transaction.
LONGMONT, COLO. — Berkeley Partners has completed the disposition of two industrial parks totaling 98,600 square feet in Longmont, approximately midway between Denver and Fort Collins. Denver-based CentrePoint Properties acquired the assets for $16.7 million. Jeremy Ballenger, Tyler Carner, Jessica Ostermick and Jim Bolt of CBRE represented the seller in the deal. The industrial parks include four buildings located at 1501-1551 S. Sunset St. and 2120-2150 Miller Drive. The assets offer small-bay industrial space, catering to tenants that need between 3,500 square feet and 27,000 square feet. At the time of sale, the parks were 93 percent leased to nine tenants.
DURANGO, COLO. — TWG has started the development of Residences at Durango, a $35 million affordable multifamily community at 21382 US 160 W. in Durango, a small city in southwestern Colorado. Partners on the project include the Colorado Housing and Finance Authority, R4 Capital, Colorado Division of Housing, the City of Durango, Project Moxie and RCH Jones. Residences at Durango is an adaptive reuse of a former hotel, which will be converted into 72 studio, one- and two-bedroom units. The new construction will add two three-story buildings, with two- and three-bedroom options, adding an additional 48 apartments. Each unit is restricted to families with incomes ranging from 30 to 60 percent of the area median income or less. Community amenities will include a business center, exercise facility, central laundry facility, playground, picnic area and common area Wi-Fi. Construction is slated for completion by early 2025.
DENVER AND MILWAUKEE — Two healthcare REITs, Denver-based Healthpeak Properties (NYSE: PEAK) and Milwaukee-based Physicians Realty Trust (NYSE: DOC), have agreed to enter into an all-stock merger agreement that is valued at roughly $21 billion. Under the terms of the agreement, each share of Physicians Realty Trust common stock will be converted into 0.674 of a share of newly issued Healthpeak common stock. The combined entity will feature a portfolio of roughly 52 million square feet of healthcare assets. On a pro-forma basis, Healthpeak and Physicians Realty Trust shareholders will own approximately 77 percent and 23 percent of the combined company, respectively. The deal is expected to close during the first half of next year. Of the combined 52 million square feet, about 40 million would consist of outpatient healthcare facilities in major gateway markets like Nashville, Atlanta, Dallas, Houston, Phoenix and Denver. Healthpeak CEO Scott Brinker will lead the newly formed company in conjunction with a board of directors comprised of eight existing Healthpeak directors and five existing Physicians Realty Trust directors, including current CEO John Thomas. In detailing the reasons behind the merger, executives from both companies noted that Healthpeak Properties and Physicians Realty Trust have overlapping footprints in …
DENVER — MG Properties has purchased 4400 Syracuse Apartments, a multifamily community in Denver. Morgan Group and LaSalle Investment Management sold the property for an undisclosed price. Situated in the Denver Tech Center/Southeast Business Corridor, 4400 Syracuse Apartments features 316 units with modern finishes, functional floor plans and best-in-class amenity spaces. Jordan Robbins and Alex Possick of JLL Capital Markets represented the sellers in the deal. Charles Halladay, Rick Salinas, Brandon Smith and Annie Rice of JLL Capital Markets arranged an undisclosed amount of Freddie Mac financing for the transaction.