Colorado

DXD Capital Buys 135,050 SF Hill & Homes Self-Storage Portfolio in Colorado

by Amy Works January 23, 2024

GRAND JUNCTION AND PALISADE, COLO. — DXD Capital, a New Mexico-based self-storage private equity firm, has acquired a Hill & Homes Self-Storage portfolio featuring seven properties spread across Colorado’s western slope. A local private owner and developer sold the portfolio for an undisclosed price. Totaling 135,050 square feet, the portfolio features 922 units all managed from a central office. All locations have perimeter fences, remote-accessed security camera and gates. The facilities are located at 2222 Sandford Drive, 2462 Highway 6 and 50, 2693 Highway 50, 1462 Colorado Ave., 2787 Printer’s Court and 3170 Pipe Court in Grand Junction and 340 W. 3rd St. in Palisade. Thomas Parsons and Adam Schlosser of the LeClair-Schlosser Group of Marcus & Millichap represented the seller and procured the buyer in the deal.

January 23, 2024

Colorado Loans Multifamily Western

Colliers Provides Fannie Mae Refinancing for The Everett Apartment Building in Denver

by Amy Works January 23, 2024

DENVER — Colliers Mortgage has provided a Fannie Mae loan for the refinancing of The Everett, a market-rate multifamily property in Denver. Built in 2022, The Everett features 33 studio units with a loft floor, providing separation for bedroom and living areas. Other unit amenities include stainless steel appliances, dishwashers and in-unit washers/dryers. Ray Picone of Colliers’ Denver office secured the five-year loan for the borrower, The Everett LLC. The size of the loan was not disclosed.

January 23, 2024

Acquisitions Colorado Office Western

Confluent Development, Ascentris Buy 161,000 SF ParkRidge Six Office Building in Lone Tree, Colorado

by Amy Works January 22, 2024

LONE PINE, COLO. — A joint venture between Confluent Development and Denver-based Ascentris has acquired ParkRidge Six, a five-story, Class A office building in Lone Tree, approximately 15 miles south of Denver. Terms of the transaction were not released. At the time of sale, the 161,000-square-foot building was fully leased. The property features a generous parking ratio, a third-party-operated cafeteria, large-format training rooms, a fitness center, small breakout rooms and outdoor amenity space. This acquisition is the first collaboration between Confluent Development and Ascentris. CBRE facilitated the acquisition.

January 22, 2024

Acquisitions Colorado Industrial Western

Hyde Development, Mortenson Properties Buy Peoria Business Center Industrial Portfolio in Denver

by Amy Works January 19, 2024

DENVER — A partnership between Hyde Development and Mortenson Properties has acquired Peoria Business Center, an industrial portfolio in Denver, from Invesco for an undisclosed price. Totaling 592,573 square feet, Peoria Business Center includes three Class A buildings located at 12330 E. 46th Ave., 12360 E. 46th Ave. and 13100 E. Albrook Drive in Denver’s airport submarket. Built between 1999 and 2001, the buildings feature clear heights ranging from 24 feet to 30 feet, ESFR sprinklers, large truck courts, dock-high and drive-in loading, and LED lighting upgrades throughout. At the time of sale, the portfolio was 98 percent leased to 19 diversified tenants. Jeremy Ballenger, Tyler Carner, Jessica Ostermick and Jim Bolt of CBRE represented the seller in the deal.

January 19, 2024

Colorado Development Loans Multifamily Seniors Housing Western

Bayview Provides $6M in C-PACE Financing for 124-Unit Mesa Verde in Durango, Colorado

by Jeff Shaw January 18, 2024

DURANGO, COLO. — Bayview PACE has provided $6 million in C-PACE financing for key improvements for the 124-unit Mesa Verde senior living community in Durango, a small city in the southwest corner of the state. The C-PACE financing helped fund primary building systems including HVAC, electrical, plumbing and roofing. The 105,000 square-foot Mesa Verde will offer 92 assisted/transitional living units spread across studio, one-bedroom and one-bedroom configurations, as well as 32 memory care studio units. Mesa Verde is directly adjacent to Centura Mercy Hospital, the only major hospital in the area. Mesa Verde is a project of Mission Senior Living, a developer, operator and owner of senior living communities across Arizona, New Mexico, Nevada and Montana. The Durango market is underserved with currently only one existing assisted living facility and no memory care units within city limits, according to Mission Senior Living.

January 18, 2024

Acquisitions Colorado Restaurant Retail Western

SRS Real Estate Arranges $8.8M Sale of 7-Eleven-Occupied Property in Wheat Ridge, Colorado

by Amy Works January 16, 2024

WHEAT RIDGE, COLO. — SRS Real Estate Partners has negotiated the sale of a newly developed retail property at 4400 Harlan Court in Wheat Ridge. Cadence Capital sold the asset to a California-based family office for $8.8 million. 7-Eleven occupies the 4,650-square-foot property, which is situated on 1.3 acres. The asset also includes Laredo Taco, 7-Eleven’s new quick-service restaurant concept. The building is an outparcel to Lakeside Center, a 728,000-square-foot retail power center anchored by Walmart Supercenter, Petco, Planet Fitness and Goodwill. Ryan Tomkins of SRS Capital Markets represented the seller in the transaction.

January 16, 2024

Acquisitions Colorado Industrial Western

Newmark Brokers $2.1M Sale of Industrial Building in Denver

by Amy Works January 15, 2024

DENVER — Newmark has arranged the sale of an industrial property located at 1305 Osage St. in Denver. Osage Studios LLC acquired the asset from GSW Ventures LLC for $2.1 million. Mike Viehmann and Mike Wafer Jr. of Newmark represented the seller, while Gruber Commercial Real Estate represented the buyer in the deal.

January 15, 2024

Colorado Industrial Loans Western

BridgeCore Provides $12.8M Refinancing for Industrial Property in Henderson, Colorado

by Amy Works January 12, 2024

HENDERSON, COLO. — BridgeCore has provided $12.8 million in expedited refinancing for a single-tenant industrial building in Henderson. This is the first financing provided under BridgeCore’s new Middle Market Loan Program, which launched in fall 2023 as an alternative to traditional life insurance company financing. BridgeCore structured a three-year loan with 18 months of yield maintenance for the undisclosed borrower. The borrower required an expedited transaction, which closed prior to year-end 2023, due to a bank loan that matured at the end of September 2023. The borrower also required cash-out proceeds for repatriation of capital, which was available with the 64 percent loan-to-value refinance.

January 12, 2024

Colorado Development Hospitality Western

KT Development Buys Land Site for 122-Room WoodSpring Suites Hotel in Centennial, Colorado

by Amy Works January 10, 2024

CENTENNIAL, COLO. — KT Development has acquired a three-acre land site within Potomac Park & Industrial Complex in Centennial, just south of Denver. Paragon Financial Partners sold the plot for $1.2 million. The buyer plans to develop a WoodSpring Suites Hotel on the site. Slated for completion in late 2024, WoodSpring Suites Hotel will feature 122 guest rooms. The hotel is an extended-stay brand from Choice Hotels International Inc. Rick Egitto and Howard Schmidt of Avison Young represented the buyer, while Bo Pitto, Chris Schultz and James McGill of JLL represented the seller in the transaction.

January 10, 2024

Acquisitions Colorado Hospitality Western

Avison Young Negotiates $8.2M Sale of Ascent on Main Hotel in Parker, Colorado

by Amy Works January 9, 2024

PARKER, COLO. — Avison Young has arranged the sale of Ascent on Main, a boutique hotel at 18595 Mainstreet in Parker, a southeast suburb of Denver. Independent Bank, which oversaw the property in receivership, sold the asset to Eagle Point Hotel Partners for $8.2 million. Opened in 2019, the four-story Ascent on Main features 51 guest rooms, meeting rooms, an open-air promenade and three food-and-beverage outlets. Chris Kilcullen of Avison Young, along with Keen-Summit Capital Partners, represented the seller. Eagle Point Hotel Partners was self-represented in the deal.

January 9, 2024

Newer Posts

Older Posts