Colorado

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

Acquisitions Colorado Multifamily Western

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

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