FORT COLLINS, COLO. — San Francisco-based FPA Multifamily has completed the disposition of The Social Fort Collins, a 68-unit student housing community in Fort Collins. A Denver-based private equity group acquired the property for $25.5 million, or $375,000 per unit. Constructed in 2021, the property features 136 beds and is within walking distance to Colorado State University and Canvas Stadium. Bill Morkes and Craig Stack of Colliers represented the seller in the transaction.
BOULDER, COLO. — Good Investment Partners (GIP) has received a $27 million loan for the acquisition of a light industrial and office portfolio comprising six properties in Boulder. The single- and multi-tenant buildings are located at 6797, 6837 and 6899 Winchester Circle and 4695, 4697 and 4699 Nautilus Court. Completed between 1982 and 2001, the portfolio was 87.8-percent leased to 23 tenants at the time of the loan closing. The buildings offer clear heights ranging from 13.6 to 20.5 feet, high office finishes, 21 grade-level doors, 19 dock-high doors and ample parking. GIP plans to enhance the properties, which total 184,462 square feet, serve small- to mid-sized companies in the market. Jason Carlos and William Haass of JLL Capital Markets arranged the floating-rate loan through Argentic Investment Management.
COLORADO SPRINGS, COLO. — Pinnacle Real Estate Advisors has brokered the sale of Brookside Apartments, an apartment building located at 418-432 E. Brookside St. in Colorado Springs. The asset traded for $6.6 million, or $170,000 per unit. Built in 1955, the building features 39 apartments. Michael Krebsbach and Kenny Clarke of Pinnacle represented the buyer in the deal.
ARVADA, AURORA, DENVER AND FORT COLLINS, COLO. — JLL has arranged a $54 million loan for the refinancing of a four-property, 436,055-square-foot retail portfolio in Denver and Fort Collins. The borrower is Denver-based Gart Properties. Eric Tupler of JLL placed the 10-year, fixed-rate loan with an undisclosed life insurance company. Gart used the proceeds from the nonrecourse loan to retire existing debt and to realize significant value that has been created through the renovation and repositioning of the assets, including strategic leasing and management over several years. The portfolio includes Indian Tree Shopping Center at 7705-7739 Wadsworth Blvd. in Arvada; Saddle Rock Village at 7400 S. Gartrell Road in Aurora; Micro Center Shopping Center at 8800 E. Quincy Ave. in Denver; and Pavilion Shopping Center at 4200-4372 S. College Ave. in Fort Collins. Constructed between 1974 and 2005, the portfolio was 92.5 percent leased at the time of closing. Current tenants include Sprouts Farmers Market, Super Target, Ace Hardware, Anytime Fitness, Christy Sports, Hand & Stone, Michaels, Micro Center, Natural Grocers, Sherwin-Williams and T.J. Maxx.
DENVER — Marcus & Millichap has negotiated the sale of a multi-tenant industrial property located at 1221 E. 56th Ave. in Denver. The sales price was undisclosed. Alyssa Tomback of Marcus & MIlichap’s Denver office represented the seller and buyer, both of which were private investors who requested anonymity, in the transaction. At the time of sale, the 36,300-square-foot property was fully occupied by multiple tenants.
LOVELAND, COLO. — Roaring Fork Real Estate has completed the sale of a warehouse cold storage building located at 7311 E. Highway 34 in Loveland. WS Properties Loveland acquired the asset for $6 million. Situated on four acres, the 31,612-square-foot facility features more than 20,000 square feet of cold storage and dry storage. The asset also includes a shipping/receiving area, locker rooms and office space. The buyer plans to convert the single-tenant facility property into a third-party logistics facility. The existing tenant, Canyon Bakehouse, is scheduled to vacate the premises in June. Jared Goodman of Cushman & Wakefield represented the seller in the transaction.
WESTMINSTER, COLO. — Certus has completed the sale of Church Ranch Corporate Center, a Class A office property located along the US-30/Denver-Boulder corridor in Westminster. Lotus Co. acquired the building for $25.4 million. Built in 2001 and renovated in 2020, the four-story, multi-tenant asset features 124,500 square feet of office space. At the time of sale, the property was 90 percent leased to 14 tenants. The building is located at 10170 Church Ranch Way. Cushman & Wakefield’s Aaron Johnson, Jon Hendrickson and Mitch Veremeychik represented the seller in the deal. Additionally, Baxter Fain, Rob Cronenberg and Sarah Dinning of Cushman & Wakefield’s Denver Equity, Debt & Structured Finance Group arranged the debt financing for the buyer. A CMBS lender provided the $16.5 million, 10-year, full-term, interest-only loan.
COLORADO SPRINGS, COLO. — SRS Real Estate Partners has arranged the sale of a medical retail property located at 1910 Lelaray St. in Colorado Springs. A Colorado-based private investor sold the asset to a West Coast-based investor for $10.6 million. Built in 2009 on 2.1 acres, the property features 19,187 square feet of medical office space. Liberty Dialysis, a subsidiary of Fresenius, and Pikes Peak Nephrology fully occupy the two-tenant building. Stephen Sullivan, Matthew Mousavi and Patrick Luther of SRS’ National Net Lease Group represented the seller in the deal.
DENVER — A joint venture between Continuum Partners and Clarion Partners has obtained $130 million in refinancing for Market Station, a Class A mixed-use property in Denver’s LoDo neighborhood. Eric Tupler and William Haass of JLL Capital Markets secured the 12-year, fixed-rate loan through a life insurance company. Completed in 2021, Market Station features 225 apartments split into two residential concepts, Fourteen45 and The Flats; 126,000 square feet of office space that is 70 percent leased; 52,000 square feet of retail space; and 320 mechanically stacked parking stalls. The residential components offer studio, one- and two-bedroom units, a fitness center, two clubhouses, a rooftop terrace with pool and grills, outdoor dog runs and dog washing stations. The retail portion wraps around the entire property and features a collective of like-minded sellers that share a passion for the outdoors, along with some traditional retail concepts.
AURORA, COLO. — JAGreen Development (JAG), in partnership with an affiliate of New York-based Raith Capital Partners, has acquired 157 acres in Aurora for the development of AEROS Logistics Center, a Class A industrial park. AEROS Logistics Center will feature 2 million square feet of logistics, distribution, manufacturing, construction and data center space. Tenants will have the option to buy or lease from the property. The park could accommodate two 1 million-square-foot, east/west-facing, cross-dock buildings, or it could be divided into smaller parcels. Aaron Valdez, Alec Rhodes and Tyler Smith of Cushman & Wakefield represented JAG in the acquisition and will handle the marketing for AEROS.
