THORNTON, COLO. — Pinnacle Real Estate Advisors has directed the sale of Shops at Highpointe Park in Thornton. A Colorado-based private investor sold the asset to a Pennsylvania-based institutional investor for $6.3 million. Located at 9740 and 9760 Grant St., Shops at Highpointe Park consists of two adjacent retail strip centers built in 2008 and totaling 19,622 square feet. Justin Krieger represented the seller and procured the buyer in the deal.
DENVER — CenterSquare has purchased Shops at Highpointe, an essential service retail (ESR) shopping center in Denver. Terms of the transaction and the name of the seller were not released. Located at the northeast corner of Grant Street and 97th Avenue, Shops at Highpointe offers 18,938 square feet of retail space that was 88 percent occupied at the time of sale. T-Mobile, Dickey’s BBQ and Red Wing Shoes, along with several long-term local tenants, occupy the property, which was built in 2008.
DENVER — Pinnacle Real Estate Advisors has arranged the sale of a 6,233-square-foot commercial boutique building at 1532 Emerson St. in Denver. The three-story property traded for $1.3 million. According to LoopNet Inc., the property, informally known as The Gargoyle Building, was originally built in 1937. Nick Schill of Pinnacle represented the seller, an entity doing business as FILROSS 1328 LLC, in the transaction. The buyer was not disclosed.
DENVER — NorthPeak Commercial Advisors has brokered the sale of an apartment building located at 4630 E. Ashbury Circle in Denver. The 12-unit asset traded for $2.4 million, or $197,916 per unit. The names of the seller and buyer were not released. Jack Sherman and Hunter Schaefer of NorthPeak Commercial Advisors represented the seller, while Kevin Calame and Matt Lewallen, also with NorthPeak, represented the buyer in the deal.
WESTMINSTER, COLO. — Pinnacle Real Estate Advisors has arranged the sale of a 12-unit multifamily property in Westminster. The asset traded for $2 million, or $169,583 per unit. Chris Knowlton of Pinnacle Real Estate Advisors represented the undisclosed seller and undisclosed buyer in the transaction.
COLORADO SPRINGS, COLO. — Dwight Capital has closed a $38.4 million HUD 223(f) loan for the refinancing of Volta at Voyager, a multifamily property in Colorado Springs. Brandon Baksh and Brian Yee of Dwight Capital originated the financing on behalf of the borrower, Boulder-based Mountain View Capital LLC. The refinancing benefited from a Green Mortgage Insurance Premium (MIP) reduction to 25 basis points, enhancing the financial terms. Comprising 10 three-story residential buildings, Volta at Voyager offers 200 one-, two- and three-bedroom apartments, a fitness center, Amazon lockers, a dog spa and park, swimming pool and spa and a resort-style clubhouse.
AVON, COLO. — JLL Capital Markets has secured $73 million in construction financing from Bank OZK for Traer Creek Apartments, a Class A multifamily development at 5471 E. Beaver Creek Blvd. in Avon. The borrowers are Prime West and Columnar Investments. Slated for completion in 2026, Traer Creek Apartments will feature 242 studio, one-, two- and three-bedroom floor plans with upmarket finishes, central conditioning and mountain views. Community amenities will include a fitness center, movement center and outdoor spa. The property’s four-story, three-building layout allows for open green areas and 9,200 square feet of communal facilities. Leon McBroom and Will Haass of JLL’s Debt Advisory team represented the borrower in the financing.
FORT COLLINS, COLO. — Green Leaf Partners Management has purchased Alvista Harmony, a garden-style multifamily community in Fort Collins, from an affiliate of Phoenix Realty Group and its joint venture partner. Located at 2002 Battlecreek Drive, the property comprises 16 two- and three-story buildings offering 280 one- and two-bedroom units with an average size of 924 square feet. All units feature walk-in closets, private balconies or patios and a washer and dryer. Community amenities include a clubhouse, business center, fitness center, swimming pool, hot tub, grill station, playground, pet park, dog wash, onsite bike storage, 380 surface parking spaces and 96 detached garages. Phoenix Realty Group has completed renovations to the clubhouse and common areas and has fully renovated 116 units. Previous ownership upgraded 52 of the units, with 42 additional units including finish levels comparable to the classic interior scope. Shane Ozment, Terrance Hunt, Andy Hellman, Justin Hunt, Chris Hart and Brad Schlafer of CBRE represented the seller in the deal.
DENVER — Lee & Associates Denver is celebrating 10 years of success, excellence, innovation and client satisfaction. Since its inception in 2014, the company has closed more than 1,000 commercial real estate transactions producing $1 billion in transaction volume. “We are incredibly grateful to our loyal clients, dedicated employees and supportive principals who have been integral to our success throughout this remarkable journey,” says JR Bitzer, managing principal. “This anniversary signifies not only our years of hard work and determination, but also the immense potential that lies ahead as we continue to expand in Colorado.” Lee & Associates Denver is committed to consistently growing, meeting challenges and elevating its standards. Looking ahead, the company aims to enhance its offerings, explore new market opportunities and continue to deliver exceptional value to its clients.
DENVER — Chicago-based Banner Real Estate Group has launched Banner Industrial Properties, a new platform dedicated to industrial real estate investments. The platform will initially focus on value-add properties in key logistics markets throughout the Western United States. Based in Denver, Banner Industrial Properties is led by Mark Bowen as president, Dan Morrison as chief financial officer and Scott Blanding as chief operating officer. With more than 30 years of experience, Bowen’s role will encompass executive leadership, investment sourcing, operations and overall strategy. Bowen most recently served as chief investment officer at Dalfen Industrial. As chief financial officer, Morrison will oversee fundraising and capital markets activities. Previously, he helped launch three U.S.-focused, value-add funds with TradeLane Properties. Blanding will manage asset management, leasing and operations as chief operating officer at Banner Industrial Properties. Previously, he had stints with Viking Partners and DCT Industrial Trust.