Colorado

Orion Real Estate Partners Buys 217-Unit Fielders Creek Apartment Complex in Englewood, Colorado

by Amy Works January 5, 2024

ENGLEWOOD, COLO. — Orion Real Estate Partners has acquired Fielders Creek, a multifamily community located at 3205 W. Floyd Ave. in Englewood, a suburb south of Denver. Terms of the transaction were not released. Situated on 7.3 acres, the 170,713-square-foot community features nine two- and three-story buildings offering 217 studio, one- and two-bedroom units with an average size of 787 square feet. Community amenities include a game room, 24-hour fitness center, resort-style pool, grilling and picnic areas, 272 parking spaces, a playground and dog park. Built in 1983, Fielders Creek has undergone multiple renovation programs and leaves the new owner the opportunity to invest in interior refreshments. Terrance Hunt, Shane Ozment, Andy Hellman and Justin Hunt of CBRE represented the undisclosed seller in the deal.

January 5, 2024

Colorado Development Multifamily Student Housing Western

Landmark Properties Plans 936-Bed Student Housing Project Near the University of Colorado Boulder

by Amy Works January 4, 2024

BOULDER, COLO. — Landmark Properties has acquired a 15-acre site at 1345 28th St. near the University of Colorado Boulder in Boulder. The firm plans to construct The Standard at Boulder, a 936-bed student housing community, on the site. The project caps off approximately $700 million in year-end transactions for Landmark in 2023. The 447,000-square-foot building will include 303 student apartments. Landmark expects to begin abatement and demolition of the vacant building on the site, former home to the Harvest House Hotel, early this year. Landmark Construction, the construction arm of Landmark Properties, will be the general contractor. Completion is slated for fall 2027. The four-story Standard at Boulder will offer a mix of floor plans, ranging from studios to four-bedroom units, some with private balconies. The community will include 29,000 square feet of amenities including multiple rooftop decks with views of the surrounding campus and the Flatirons; an outdoor pool and pool deck; a clubroom; several study lounges’ as well as; and parking for 348 vehicles with several electric vehicle charging stations. As part of the planned development, Landmark Properties will incorporate nearly six acres of active and passive green spaces fronting Boulder Creek and make improvements to the portion …

January 4, 2024

Acquisitions Colorado Multifamily Western

Griffis Residential Buys Platform at Union Station Apartments in Denver for $125.5M

by Amy Works January 4, 2024

DENVER — Griffis Residential has acquired Platform at Union Station, a multifamily community in downtown Denver, for $125.5 million in an all-cash transaction. The asset is located at 1650 Wewatta St. Built in 2015, the 21-story Platform at Union Station features 287 apartments in a mix of studio, one- and two-bedroom floor plans with an average size of 814 square feet. Community amenities include a resort-style rooftop terrace and pool; a 24-hour fitness center and yoga studio; an indoor dog run and pet wash station; and business and coworking centers. Tupelo Honey Southern Kitchen & Bar occupies the building’s ground-floor retail space. Terrance Hunt, Shane Ozment, Chris Cowan, Andy Hellman, Justin Hunt, Chris Hart and Brad Schlafer of CBRE’s multifamily investment properties team in Denver represented the undisclosed seller in the deal.

January 4, 2024

Acquisitions Colorado Multifamily Western

NorthPeak Commercial Brokers $4.1M Sale of Apartment Complex in Denver

by Amy Works January 3, 2024

DENVER, COLO. — NorthPeak Commercial Advisors has arranged the sale of a multifamily property, located at 1000 S. Logan St. in Denver. The asset traded for $4.1 million, or $206,250 per unit. Greg Johnson, Connor Piretti and David Barocas of NorthPeak Commercial Advisors represented the undisclosed seller, while Jason Koch of Capstone Communities represented the undisclosed buyer in the deal. Built in 1938, the property features 20 courtyard apartments and 15 individual garages situated on a 30,430 square feet lot. The buyer plans to develop a new multifamily project on the site that is scheduled for completion in 2026.

January 3, 2024

Acquisitions Colorado Industrial Western

Malman Commercial Arranges $4.9M Acquisition of 22 Industrial/Flex Condos in Denver

by Amy Works January 3, 2024

DENVER — Malman Commercial Real Estate has arranged the purchase of 22 industrial/flex condominiums at 5475 Peoria St. in Denver. Peoria Condos LLC acquired the assets for $4.9 million. Jake Malman of Malman Commercial represented the buyer, while Mark Alley and Paul Scheider of Pinnacle Real Estate Advisors represented the two sellers in the transaction. The seller of Building 2, Units 104 and 105 was Slang Colorado RE1 LLC. The sellers of 20 units in Building 1 and Building 2 were 5475 Building I LLC and 5475 Building II LLC.

January 3, 2024

Colorado Loans Retail Western

Essex Arranges $87.5M Refinancing for Five-Property Retail Portfolio Near Denver

by Amy Works January 2, 2024

DENVER — Essex Financial Group has secured an $87.5 million loan to refinance a five-property retail portfolio totaling 689,599 square feet across the greater Denver area. King Soopers, a subsidiary of Kroger, anchors each of the neighborhood centers. Essex worked on behalf of AmCap Inc., which has owned the properties since 1987. The grocery-anchored portfolio is currently 98 percent leased, with King Soopers accounting for more than half of the net rentable area. Other tenants in the portfolio include a mix of national and local retailers focused on daily needs, service uses and restaurants. Essex secured the fixed-rate, nonrecourse loan with an institutional investment manager that was funding on behalf of a separate life insurance company account. Paul Donahue, Cooper Williams, Matt Perigard and Andrea Mehlem of Essex’s Capital Markets team arranged the financing.

January 2, 2024

Acquisitions Colorado Net Lease Restaurant Retail Western

1031 Exchange Buyer Acquires Shake Shack-Occupied Property in Colorado Springs for $5.3M

by Amy Works December 22, 2023

COLORADO SPRINGS, COLO. — An Oregon-based 1031 exchange buyer has purchased the ground lease of a restaurant asset located at 9723 Federal Drive in Colorado Springs. An undisclosed developer sold the asset for $5.3 million. A new double-drive-thru Shake Shack occupies the asset on a 15-year absolute triple-net ground lease. The property is adjacent to a 115,000-square-foot Scheels at the intersection of Interstate 5 and Interquest Parkway. Drew Isaac, James Rassenfoss and Ian Hicks of Marcus & Millichap’s Denver office represented the seller in the deal.

December 22, 2023

4475-Forrest-Hill-Rd-Colorado-Springs-CO

Acquisitions Colorado Net Lease Retail Western

Marcus & Millichap Brokers $3.3M Sale of Retail Building in Colorado Springs

by Amy Works December 22, 2023

COLORADO SPRINGS, COLO. — Marcus & Millichap has arranged the sale of a retail building located at 4475 Forrest Hill Road in Colorado Springs. A developer sold the asset to an individual/personal trust for $3.3 million. Bank of America occupies the building on a 13-year absolute triple-net ground lease. Drew Isaac and James Rassenfoss of Marcus & Millichap’s Denver office represented the seller, while Rich Merryman, Ryan Wilmer and Bill Schofield of Marcus & Millichap’s San Francisco office represented the buyer in transaction.

December 22, 2023

Acquisitions Colorado Office Retail Western

John Propp Commercial Brokers $2.3M Sale of Office Building in Denver

by Amy Works December 21, 2023

DENVER — John Propp Commercial Group has arranged the sale of an office building located at 15 E. Iowa Ave. in Denver. South Gate Masonic Building Association acquired the asset from 25W BKM LLC for $2.3 million. The two-story, 21,258-square-foot building features ground-floor retail space, second-story office space and a single apartment. The buyer plans to renovate and reposition the property both for its own business occupy and to retain existing retail tenants. Joshua Cohen of John Propp Commercial Group represented the seller in the deal.

December 21, 2023

Colorado Loans Multifamily Western

KeyBank Arranges $16.7M Refinancing for Edge DTC Multifamily Property in Denver

by Amy Works December 18, 2023

DENVER — KeyBank Real Estate Capital has arranged a $16.7 million Fannie Mae fixed-rate loan to refinance existing debt secured by Edge DTC, an apartment community in Denver. Brian Caudel and Allison Loftsgordon of KeyBank Real Estate Capital structured the five-year loan featuring full-term interest-only payments through Fannie Mae for the borrower, Grand Peaks Properties. Built in 1986, Edge DTC features 204 apartments spread across eight two-story residential buildings. Community amenities include a swimming pool, fitness center, business center, dog park and picnic area.

December 18, 2023

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