PUEBLO SPRINGS, COLO. — BWE, on behalf of ESH Development, has secured a $39.5 million HUD 221(d)(4) loan to finance the development of Pueblo Springs, a Class A market-rate apartment project in Pueblo, approximately 45 miles south of Colorado Springs. James Swanson of BWE’s Phoenix office originated the financing. The HUD-insured loan provides for a combined construction and permanent financing for market-rate multifamily projects. The non-recourse, fully assumable loan features a 40-year, fully amortizing term that will qualify for HUD’s reduced rates for eco-friendly developments upon final construction and delivery of units. Pueblo Springs will feature 199 units with nine-foot ceilings in select units, walk-in closets, ceiling fans, private balconies or patios, soaking tubs, breakfast bars, pantries, granite or quartz countertops, and stainless steel and Energy Star appliances, including in-unit washers/dryers. Community amenities will include a clubhouse with Wi-Fi, a fitness center, business center/e-lounge, community room with gourmet kitchen, bike storage, heated pool and spa, barbecue and picnic areas, walking paths, extensive landscaping, 24-hour emergency staff and gated entry. Colorado Structures is serving as general contractor for the project, which will be built to a high standard of energy efficiency.
AURORA, COLO. — Evans Senior Investments (ESI) has arranged the sale of Summit Rehabilitation & Care Community, a 110-bed skilled nursing facility in the Denver suburb of Aurora. The seller was an independent owner-operator. An East Coast-based real estate holding company acquired the asset for an undisclosed price. ESI also helped arrange a new tenant for the property. Built in 1972 with a 2018 renovation, Summit Rehabilitation & Care Community maintained a 95 percent occupancy rate, generating over $11.9 million in annual revenue.
WESTMINSTER, COLO. — Vitalis Properties has purchased PAM Health Rehabilitation Hospital of Westminster for an undisclosed price. Located at 6500 W. 104th Ave. in the Denver suburb of Westminster, the freestanding, two-story, 37,130-square-foot hospital features 36 private rooms. CJ Kodani led the JLL Capital Markets team that represented the undisclosed seller and procured the buyer in the deal.
LAKEWOOD, COLO. — Walker & Dunlop has negotiated the sale of Lakeview Senior Living, a 125-unit independent living community in the Denver suburb of Lakewood. Livingston Street Capital acquired the community, which was built in 2008. The seller and price were not disclosed. Joshua Jandris led the Walker & Dunlop team.
DENVER — Malman Commercial Real Estate has arranged the sale of 11100 E. 51st Avenue in Denver. GS 51st LLC, a Colorado limited liability company, sold the property to Las Vegas Lucky Investment LLC, a Nevada limited liability company, for $10.7 million, or $178.51 per square foot. Pioneer Interests, a multi-state institutional cannabis operator, fully occupies the 59,940-square-foot industrial building. Situated on 1.5 acres, the building is zoned I-B and offers heavy power and ample parking. Jake Malman of Malman Commercial represented the seller, while Jun Zhou of Centaline Investment Inc. represented the buyer in the deal.
AURORA AND DENVER, COLO. — Brennan Investment Group has purchased two distribution facilities, totaling 206,000 square feet, in Aurora and Denver. Terms of the transaction were not released. The properties are located at 18245 E. 40th Ave. in Aurora and 4999 Oakland St. in Denver. At the time of sale, the Oakland property is fully leased to a single tenant, and the 40th Avenue property is partially leased.
DENVER — Pinnacle Real Estate Advisors has arranged the sale of a 5,885-square-foot retail building located at 4923 W. 38th Ave. in Denver. The asset traded for $1.5 million. Levi Saxen and Keith Lenz of the Sandberg Monette Team of Pinnacle Real Estate Advisors facilitated the transaction for the undisclosed buyer and seller.
GRAND JUNCTION, COLO. — Ziegler has acted as exclusive financial advisor to Bethesda Senior Living on the sale of an assisted living community located in Grand Junction, near the Utah border. Bethesda Senior Living is a faith-based, nonprofit operator of over 20 seniors housing communities spanning the Midwest and West regions. Cornerstone Management purchased the community in conjunction with a private real estate fund and took over operations. The price was not disclosed.
CENTENNIAL, COLO. — Marcus & Millichap has arranged the $1.9 million sale of The Office at Yosemite, an office building in Centennial, just south of Denver. Brandon Kramer and Chadd Nelson of Marcus & Millichap represented the seller, a limited liability company, in the deal. Located at 6886 S. Yosemite St., The Office at Yosemite features 15,377 square feet of office space. The property is near Fiddler’s Green Amphitheatre and the Arapahoe Entertainment District.
DENVER — Magnetic Capital has broken ground on 2nd & Adams, a mixed-use building located at 2nd Street and Adams Avenue in the Cherry Creek submarket of Denver. Slated for completion in third-quarter 2025, 2nd & Adams will feature 80,000 square feet of office space and 20,000 square feet of retail space. The building will have multiple food, beverage and retail concepts across the ground-floor space, and the rooftop will feature a 5,600-square-foot bar and restaurant. Bow River Capital, a Denver-based private alternative asset manager, has pre-leased 30,000 square feet of office space at 2nd & Adams for the company’s headquarters. The project team includes OZ Architecture as architect and Mortenson Construction as general contractor. Blake Holcomb of CBRE is handling leasing for the project.