Colorado

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

Arizona Colorado Development Industrial Multifamily Western

StarPoint Properties Plans Two Opportunity Zone Projects in Arizona, Colorado

by Amy Works December 15, 2023

MESA, ARIZ., AND DENVER — StarPoint Properties is developing two Opportunity Zone projects totaling $115 million. StarPoint has started vertical construction on Lotus Point, a $79.2 million multifamily development in Mesa, and Point Central, a $36.7 million industrial project in Denver. Located at 139 N. Dobson Road, the four-story Lotus Point will offer 245 apartments. The community will benefit from a property tax abatement agreement with the City of Mesa for eight years after construction, which will generate significant property tax savings. Point Central, located at 1051 and 1161 E. 73rd Ave. in Denver, will offer 157,473 rentable square feet split across two industrial buildings with access to Denver’s major highways. Completion of both properties is slated for 2025. StarPoint expects Lotus Point to be stabilized by fourth-quarter 2025 and Point Central by the second quarter of 2025.

December 15, 2023

Acquisitions Colorado Multifamily Western

NorthPeak Commercial Brokers $8.2M Sale of Apartment Community in Glenwood Springs, Colorado

by Amy Works December 15, 2023

GLENWOOD SPRINGS, COLO. — NorthPeak Commercial Advisors has arranged the sale of a multifamily property located at 228 Auburn Ridge Lane in Glenwood Springs, a resort city approximately midway between Denver and the Utah border. The property traded for $8.2 million, or $171,875 per unit. The 30,376-square-foot asset features 48 apartments. Kevin Calame and Matt Lewallen of NorthPeak handled the transaction.

December 15, 2023

Acquisitions Colorado Industrial Western

NavPoint Negotiates $3.2M Sale of Multi-Parcel Industrial Asset in Castle Rock, Colorado

by Amy Works December 13, 2023

CASTLE ROCK, COLO. — NavPoint Real Estate Group has brokered the sale of 1609 and 1713 Park St. in Castle Rock. JGC2M LLC sold the asset to Four Square Properties II LLC for $3.2 million. The asset consists of four commercially zoned parcels totaling 1.6 acres. Two of the parcels are fenced outdoor storage and two parcels have buildings, totaling approximately 12,000 square feet combined. Matt Call of NavPoint represented the seller, while Jeff Brandon of NavPoint represented the buyer in the deal.

December 13, 2023

Acquisitions Colorado Multifamily Seniors Housing Western

SLIB Negotiates Sale of 40-Unit Renew Saddle Rock Memory Care in Aurora, Colorado

by Amy Works December 12, 2023

AURORA, COLO. — Senior Living Investment Brokerage (SLIB) has arranged the sale of Renew Saddle Rock Memory Care in Aurora, approximately 20 miles southeast of Denver. The asset features 40 units and 52 beds and was built in 2015. The property totals 38,585 square feet on approximately 4.7 acres of land. The seller was an out-of-state private equity group with a third-party operator divesting the asset to exit the senior living space. The buyer was an experienced Denver-based owner-operator looking to grow its portfolio. The price was not disclosed. Vince Viverito, Ryan Saul and Jason Punzel of SLIB handled the transaction.

December 12, 2023

Acquisitions Colorado Multifamily Western

MG Properties Buys Bear Valley Park Apartments in Denver for $76M

by Amy Works December 8, 2023

DENVER — MG Properties has acquired Bear Valley Park Apartments, a garden-style community in Denver, from Jackson Square Properties for $76 million. Located at 5775 W. Dartmouth Ave., Bear Valley Park Apartments features one- and two-bedroom units with stainless steel appliances, islands and designer finishes. The pet-friendly community offers a heated pool, outdoor fire pit, 24-hour package lockers, private parking lot with available garages, resident lounge, fitness center and spa. Jordan Robbins and Alex Possick of JLL Capital Markets represented the seller in the transaction. Charles Halladay, Rick Salinas, Brandon Smith and Annie Rice of JLL Capital Market arranged acquisition financing through Fannie Mae for MG Properties.

December 8, 2023

Acquisitions Colorado Multifamily Western

NorthPeak Commercial Brokers $7M Sale of Multifamily Building in Leadville, Colorado

by Amy Works December 7, 2023

LEADVILLE, COLO. — NorthPeak Commercial Advisors has arranged the sale of an apartment building located at 921 Mount Massive Drive in Leadville, approximately 100 miles southwest of Denver. The asset traded for $7 million, or $250,000 per unit. The names of the buyer and seller were not released. Joe Hornstein and Scott Fetter of NorthPeak Commercial Advisors represented the buyer and seller in the transaction. The 26,040-square-foot apartment building features 28 units.

December 7, 2023

Acquisitions Colorado Industrial Western

Malman Commercial Brokers Sale of 24,178 SF Industrial Building in Denver

by Amy Works December 6, 2023

DENVER — Malman Commercial Real Estate has arranged the sale of an industrial property located at 501-521 Kalamath St. in Denver. Ascent Commercial Real Estate LLC acquired the asset from 501 Kalamath Associates LLC for $3.1 million. The building features 24,178 square feet of industrial space. Taylor Roy of Malman Commercial Real Estate represented the buyer, while Tanner Digby and CJ Anania of Digby Commercial Advisors represented the seller in the deal.

December 6, 2023

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