LAKEWOOD, COLO. — Ziegler and M&T Realty Capital Corp. have acted as financial advisor in a $19.5 million Fannie Mae financing on behalf of Essex Communities. The transaction will refinance the existing debt on Carmel Oaks, an age-restricted independent living community in Lakewood. The 10-year, fixed-rate loan was structured at a 75 percent loan-to-value ratio with five years of interest-only payments followed by a 30-year amortization. The loan also carries a declining prepayment schedule, which will provide the borrower with additional flexibility in future years. In addition to refinancing the existing debt, the loan also provided funding for Essex to recover capital improvement expenditures and initial equity.
BOULDER, COLO. — Ivy Realty has completed the disposition of 6707 Winchester Circle, a single-story office/industrial building in Boulder. Evermore Partners acquired the asset for $8.8 million. Situated on 3.6 acres within Gunbarrel Tech Center, 6707 Winchester features 33,296 square feet of flex office space. Fully renovated in 2016, the property offers 28,832 square feet of office and lab space and 4,000 square feet of warehouse and distribution space. The warehouse space features three dock-high doors and one roll-up door. On-site amenities include a fitness center with showers and locker rooms, an outdoor patio with barbecue space, and bike storage. At the time of sale, the property was fully leased to four tenants, with life sciences companies comprising 33 percent of the rent roll. Larry Thiel, Jason Schmidt and Rob Key of JLL Capital Markets represented the seller in the transaction.
CENTENNIAL, COLO. — Denver-based EverWest Real Estate Investors has completed the disposition of Peakview Apartments, a multifamily community situated within Denver Tech Center in Centennial. Griffis Residential acquired the four-story asset for $115 million. Located at 7700 E. Peakview Ave., Peakview Apartments features 304 studio, one-, two- and three-bedroom residences, a resort-style swimming pool, rooftop deck, fitness center, and bicycle storage and repair facilities. A structured, controlled-access deck provides parking. Peakview is two blocks from the Arapahoe light rail station. The asset was constructed in 2015.
GREENWOOD VILLAGE, COLO. — Focus Property Group has completed the disposition of 5500 Greenwood, an office property in Greenwood Village. A private investor acquired the asset for $15.7 million. Located at 5500 Greenwood Plaza Blvd., the property offers 69,855 square feet of office space. Built in 1974, the two-story building is fully leased to seven tenants, including Galloway & Co. and Enterprise Coworking. The location features easy access to both Interstate 25 and C-470. Patrick Devereaux, James Brady, Campbell Davis and Chad Flynn of CBRE Capital Markets in Denver represented the seller in the transaction.
LOVELAND, COLO. — JLL Capital Markets has arranged $12.5 million in construction financing for the development of Boyd Lake Commerce Center Phase I, a Class A outdoor storage project situated on 95 acres in Loveland. The borrower is BLCC One, an affiliate of co-developers Saunders Commercial Development Co. and Winslow Investments. Leon McBroom led the JLL Capital Markets team in arranging the three-year, non-recourse, floating-rate loan through a regional bank. Once completed, the 100,000-square-foot building will offer 28-foot clear heights, 28 loading docks, 188 parking spaces, ESFR sprinkler systems, glass storefront and LED lighting. Additionally, the property will include four acres of outdoor yard space. Boyd Lake Commerce Center is a master-planned development that is expected to include five additional industrial buildings, one office building and one flex project with numerous build-to-unit opportunities throughout.
COLORADO SPRINGS, COLO. — Blue West Capital has brokered the sale of a single-tenant, net-leased retail building located at 1358 Republic Drive in Colorado Springs. A private REIT sold the asset to a Florida-based investor for $4.4 million. Firestone Complete Auto Care occupies the 6,116-square-foot building, which was constructed in 2021, on a long-term, absolute triple-net lease that includes rental increases every five years. Brandon Gayeski and Zach Wright of Blue West Capital represented the seller in the transaction.
LAKEWOOD, COLO. — Notch Mountain Properties has completed the disposition of Lime Apartment Homes in Lakewood. Turnstone Capital acquired the asset for $15.1 million. Located at 1220 Wadsworth Blvd., the 1962-vintage property feature 50 apartments in a mix of two- and three-bedroom layouts, ranging from 927 square feet to 1,187 square feet. Alex Possick and Seth Gallman of Northmarq’s Colorado Multifamily Investment Sales team represented the seller in the transaction.
COLORADO SPRINGS, COLO. — NavPoint Real Estate Group has arranged the sale of an office building located at 5731-5759 N. Academy Blvd. in Colorado Springs. Silverwood Investments LP sold the asset to East of Eden Enterprises LP for $7.2 million in an off-market transaction. Situated within Centerpointe Plaza shopping center, the property features 30,843 square feet of office space occupied by three tenants in the medical, fitness and education sectors. Matt Call of NavPoint Real Estate Group represented the seller, while Jae Kim of RE/MAX 100 represented the buyer in the transaction.
DENVER — Berkadia has arranged the sale of 757 Grant, an apartment building in Denver. Colorado-based LCP Development sold the asset to California-based Cohen Rojas Capital Partners for $21.2 million. Nick Steele, John Laratta, Tyler King and Nat Moyer of Berkadia Denver represented the seller in the deal. Located at 757 Grant St., the property features 68 studio floor plans with in-unit washers/dryers and walk-in closets. Community amenities include a fitness center and rooftop terrace.
BROOMFIELD, COLO. — Highridge Costa has started construction on Northwest Apartments, an affordable multifamily property in Broomfield. The 50-unit community is designated for families earning 30 to 60 percent of area median income. Designed by Denver-based Santulan Architecture, the four-story building will feature 16 one-bedroom/one-bath units; 26, including an on-site manager’s unit, two-bedroom/two-bath units; and eight three-bedroom/two-bath units. Residences will include patios and balconies, quartz countertops, a range and oven, dishwasher, refrigerator, air conditioning, garbage disposal, window coverings and high-speed internet connections. Community amenities will include a clubroom, fitness center, play area, small dog park, laundry rooms and secure indoor storage for bicycles. Completion is slated for late fall 2023.