ENGLEWOOD, COLO. — Remedy Medical Properties and Kayne Anderson Real Estate have acquired the Dry Creek Medical Campus in the Denver suburb of Englewood. The portfolio includes two buildings totaling 68,195 square feet. They are fully leased by healthcare providers. Services are centered around a full-service ambulatory surgery center leased to Orthopedic Centers of Colorado in partnership with SCA Health, which UnitedHealth Group owns. Dr. Metz Bariatric Surgery, which is also on the campus, recently became part of HealthOne, one of the leading health systems in Colorado. Other specialties housed in the properties include imaging, spine, orthopedics, anesthesia and dermatology. CBRE U.S. Healthcare & Life Sciences brokered the transaction.
DENVER — A local buyer has acquired the 34-unit Shepherds Motel in Denver for $3 million. The historic motel is located at 1525 Valentia St. It has been family owned and operated since 1994. Barton Thompson and James Few from the Thompson Group at Pinnacle Real Estate Advisors represented both the seller and the buyer in this transaction.
COLORADO SPRINGS, COLO. — A joint venture between Formativ and Argosy Real Estate Partners has secured construction financing for The Hunter, a 214-unit multifamily development in Colorado Springs’ New South End neighborhood. The Hunter will offer studio, one- and two-bedroom floor plans. Amenities include a two-story tenant lounge, golf simulator, pool, fitness center, co-working space, bike storage, dog wash station and a parking garage. The seven-story building is scheduled for completion in late 2024. Rob Bova of JLL Capital Markets led the team that arranged the loan.
DENVER — Mortenson has broken ground on its four-story, 65,000-square-foot headquarters in Denver’s River North Art District. The new space will be located at 3083 Walnut St. The builder, developer and engineering services provider will be actively involved in the building’s development, design, fabrication and construction. The company will own and occupy the headquarters, with about 37,000 square feet dedicated to its own operations on the second and third floors. The ground and top levels will be available for leasing as retail and office spaces, respectively.
BOULDER, COLO. — CordenPharma has secured a lease for a recently renovated life sciences property in Boulder. The property is located at 2300 55th St. Acquired by TriTower Financial Group in 2021, the building has undergone extensive renovations to cater to the advanced technology needs of life sciences companies. The pharmaceutical contract development and manufacturing organization will occupy 61,117 square feet across both floors of the facility. The company plans to utilize the space for client meetings, engineering, and research and development operations, further expanding its operations in the area. CordenPharma has existing nearby facilities on 55th Street and Sterling Drive. Blake Harris with CBRE represented TriTower in the lease transaction.
BROOMFIELD, COLO. — Atomos Nuclear and Space Corp. has become the first tenant in Tepuy Properties’ 63,412-square-foot warehouse in Broomfield. The recently renovated building is located at 2360 Industrial Lane. Atomos specializes in space logistics with its development and operation of orbital transfer vehicles (OTVs) for missions in outer space. Its first mission is scheduled for launch in January 2024. The building underwent a $5 million renovation that divided it into six separate suites with common amenities. Atomos Space has leased two of the four storefronts, occupying 19,288 square feet, or about 30 percent of the building. The renovation included improvements to the roof, HVAC and electrical systems, loading dock, restrooms and overall aesthetics of the building’s exterior. Tepuy Properties plans to expand the Broomfield property by constructing a second building on the additional 2.5 acres of land. Once fully developed, the property is expected to offer about 100,000 square feet of rental space, making it the largest property in Tepuy’s portfolio.
TELLURIDE, COLO. — CoralTree Hospitality has taken over operations at Hotel Columbia. Situated in downtown Telluride, Hotel Columbia offers 21 rooms. The hotel has two hot tubs and provides on-site ski storage with boot dryers. CoralTree currently oversees three hotels in Colorado: Magnolia Hotel Denver, the Eddy Taproom & Hotel in Golden and the Hotel at the United States Air Force Academy in Colorado Springs, which is set to open in 2024.
LAKEWOOD, COLO. — Ziegler, in partnership with M&T Realty Capital Corp., advised on a $105.6 million Freddie Mac refinancing on behalf of The Ridge Senior Living. The loan is for The Ridge Pinehurst, a luxury independent living, assisted living and memory care community in Lakewood, a suburb of Denver. Ridge began opening the 371-unit community in phases starting in September 2020. The original 10-year, fixed-rate loan was structured with five years of interest-only payments, followed by 30-year amortization. The refinancing provided The Ridge with a long-term, fixed-rate loan to replace the original floating-rate construction loan. Eric Johnson of Ziegler arranged and negotiated the transaction. Matt Henning, Matthew Pipitone and Nick Gent led the transaction for M&T.
DENVER — Crestone Partners has received a $66 million refinancing for a 279,188-square-foot office property in Denver. The asset consists of two interconnected, Class A office towers in Denver’s LoDo submarket. The space is nearly 95 percent leased to 13 tenants. There is also 25,188 square feet of ground-floor retail space and a 467-space parking garage on the first and second floors. JLL’s Bob Flynn, Garth Tait, Dave Meares and Heidi McKernan represented the borrower and operator, Crestone Partners, to secure the five-year, fixed-rate loan through an international correspondent life insurance company.
BROOMFIELD, COLO. — LaPour Partners has received governmental approval to build Arista 36, a 359,800-square-foot, Class A industrial park in Broomfield. The company plans to break ground in September for delivery in early 2025. The three-building project is situated on a nearly 30-acre site in the northwest section of the city. It will feature 48 electric vehicle charging stations; two tenant community gathering spaces with shade elements and plenty of seating; walking and bike trail tie-ins; and enclosed bike racks for bike-to-work capability. Stream Realty Partners’ Tyler Reed, Peter Beugg, Dominic DiOrio and Buzz Miller will handle leasing at the property.