Colorado

Flynn Properties Receives $30M in Financing for The Madeline Hotel in Telluride, Colorado

by Amy Works January 30, 2023

TELLURIDE, COLO. — Flynn Properties has received $30 million in financing for The Madeline Hotel, Auberge Resorts Collection, in Telluride. Jordan Angel, Jeffrey Bucaro and Ethan Habecker of JLL Capital Markets’ debt advisory team arranged the five-year, floating-rate loan through Värde Partners. The transaction refinances debt on the resort hotel. Originally built in 2009 and renovated in 2020 and 2021, The Madeline features 83 guest rooms and 56 separately owned condominiums. The hotel offers a spa, 24-hour fitness studio, outdoor retail plaza and Sky Terrace, which features an outdoor pool, two oversized spas, multiple fire pits and a bar. Onsite food and beverage outlets include Black Iron Kitchen & Bar and Timber Room. The hotel also offers ski-in/ski-out access to the 147 trails of the Telluride Ski Resort and curated experiences including heli-skiing, dog sledding, snowshoeing and ice climbing in the winter, and fly fishing, dirt biking, horseback riding and helicopter tours in the summer.

January 30, 2023

Acquisitions Colorado Retail Western

NAI Shames Makovsky Brokers $6.3M Sale of Retail Building in Denver

by Amy Works January 27, 2023

DENVER — NAI Shames Makovsky has arranged the sale of a retail property located at 70 N. Broadway in Denver. Fleming Building LLC acquired the asset from 70 Broadway LLC for $6.3 million. The property features 17,500 square feet of retail space. Todd Snyder and Joey Gargotto of NAI Shames Makovsky represented the seller in the deal.

January 27, 2023

Colorado Development Multifamily Western

Dinerstein Cos. Plans 371-Unit Atlas Longmont Multifamily Community in Longmont, Colorado

by Amy Works January 25, 2023

LONGMONT, COLO. — The Dinerstein Cos. has unveiled its plans to develop Atlas Longmont, an apartment property located at 301 First Ave. in Longmont. Situated on 12 acres, Atlas Longmont will feature 371 studio, one-, two- and three-bedroom apartments ranging from 541 square feet to 1,411 square feet. The 300,000-square-foot property will consist of 10 three-story buildings, one four-story residential building and a two-story leasing and amenity building. Community amenities will include an outdoor pool, multiple spas, a clubhouse, roof deck and coworking space. An affiliate of The Dinerstein Cos. plans to break ground on the asset later this year, with initial units being delivered in early 2025 and a target completion date of early 2026.

January 25, 2023

Acquisitions Colorado Multifamily Western

Northmarq Negotiates $33.5M Sale of Basecamp Apartments in Montrose, Colorado

by Amy Works January 25, 2023

MONTROSE, COLO. — Northmarq has arranged the forward sale of Basecamp Apartments in Montrose. Range Colorado sold the asset to Blueline Equity Partners for $33.5 million. Slated to open this year, Basecamp Apartments will offer one- and two-bedroom floor plans, ranging from 719 square feet to 995 square feet. The units will feature stainless steel appliances, wine refrigerators, hard-surface countertops and a modern flooring and lighting package. Alex Possick, Seth Gallman, Mark Jeffries and Jeff DeHarty of Northmarq’s Colorado Multifamily Investment Sales and Debt/Structured Finance team handled the transaction.

January 25, 2023

Acquisitions Colorado Restaurant Retail Western

Westwood Financial Buys 225,224 SF Shops at Walnut Creek in Denver

by Amy Works January 23, 2023

DENVER — Westwood Financial has purchased The Shops at Walnut Creek, a community shopping center in Denver. InvenTrust Properties sold the asset for an undisclosed amount. At the time of sale, the 225,224-square-foot property was 94 percent occupied. Current tenants include TJ Maxx, HomeGoods, PetSmart, Michaels, Old Navy, Dollar Tree, Qdoba, Buffalo Wild Wings, Massage Envy, LensCrafters, Sephora and Lash Lounge. Brad Lyons of CBRE | National Retail Partners represented the seller in the deal.

January 23, 2023

Colorado Industrial Loans Self-Storage Western

PSRS Arranges $4.2M Refinancing for Church Ranch Self-Storage in Westminster, Colorado

by Amy Works January 23, 2023

WESTMINSTER, COLO. — PSRS has arranged a $4.2 million refinancing for Church Ranch Self-Storage in Westminster. The property features 663 self-storage units, climate control, high ceilings, electronic gate access and individually alarmed units. Kostas Kavayiotidis and Nicholas Drohan of PSRS secured the long-term, non-recourse loan with a 30-year amortization and flexible prepayment through a correspondent life insurance company. The borrower was not disclosed.

January 23, 2023

Acquisitions Colorado Multifamily Student Housing Western

Amplify Development Acquires Vista Apartments Near University of Denver for $41.3M

by Amy Works January 19, 2023

DENVER — Amplify Development Co. has acquired Vista Apartments, a multifamily asset near the University of Denver, for $41.3 million. The community was developed in 2008 and offers 284 beds across 84 units. Located at 1920 S. University Blvd. in Denver, the off-campus, student-focused apartment community features fully furnished two-, three- and four-bedroom units with private bathrooms, flat-screen TVs in the living room and floor-to-ceiling windows. Onsite amenities include a business center, study rooms, computer lab, Wi-Fi, TV lounge, 24-hour maintenance and laundry facilities on each floor. The pet-friendly property also offers two outdoor terraces, an outdoor TV lounge, fireplace, grilling stations, secured covered parking and bike parking. Amplify plans to begin an extensive renovation at the property, which will include unit updates, common area upgrades and the addition of utility infrastructure. Denver-based Capstone Management Partners will manage the asset. Jack Brett with Newmark’s student housing group represented the undisclosed seller, while Nick Steele and Tyler King with Berkadia Denver represented the buyer in the deal.

January 19, 2023

Colorado Development Multifamily Western

Fifield Cos. Breaks Ground on 302-Unit Arden Englewood Apartments Near Denver

by Amy Works January 16, 2023

ENGLEWOOD, COLO. — Fifield Cos. has started construction of Arden Englewood Apartments, a transit-oriented multifamily community in Englewood. Slated for completion in 2024, the four-story building is the redevelopment of the former Sports Authority headquarters parking lot, which has been vacant since 2016. Located at 3615 S. Jason St., Arden Englewood will feature 302 apartments in a mix of studio, one-, two- and three-bedroom layouts ranging from 570 square feet to 1,550 square feet. Units will offer quartz countertops, soft-close cabinetry, stainless steel appliances, spa baths, custom closet organizers and in-unit laundry. Community amenities will include a leasing office, fitness center, parking for 440 vehicles, a rooftop lounge and deck, swimming pool, hot tub, yoga garden and party room. Additional amenities will include a business center and coworking space with an outdoor patio. The project team includes KTGY as architect, Studio 10 as interior designer and W.E. O’Neil as general contractor. CIBC provided the construction loan.

January 16, 2023

Acquisitions Colorado Retail Western

Armstrong Capital Development Sells 16,600 SF Parker Keystone Retail Center in Parker, Colorado

by Amy Works January 13, 2023

PARKER, COLO. — Armstrong Capital Development (ACD) has completed the sale Parker Keystone, a retail center in Parker. A publicly traded REIT acquired the asset for an undisclosed price. Located at the intersection of South Parker Road and Lincoln Avenue, the Class A, multi-tenant property was fully leased at the time of sale. The property totals 16,600 square feet. Current tenants include Bank of America, Wingstop, Dunkin’ Donuts and AAA Colorado. ACD completed the transaction on behalf of its ACD 2013 Fund LP. Cory Gross of Marcus & Millichap handled the transaction.

January 13, 2023

Colorado Development Loans Multifamily Western

Trailbreak Partners Receives $24.3M Construction Loan for Multifamily Project in Denver

by Amy Works January 12, 2023

DENVER — Trailbreak Partners has received $24.3 million in construction financing for the development of 32nd and Eliot Apartments, a Class A multifamily community in Denver’s Highlands neighborhood. Located at 3245 N. Eliot St., the three-story 32nd and Eliot will feature 124 apartments in a mix of studio, one- and two-bedroom units averaging 647 square feet. Twelve of the units will be designated as affordable, reserved for residents earning up to 80 percent of area median income. Units will offer in-unit washers/dryers, balconies, large windows, stainless steel appliances, custom cabinetry, luxury vinyl plank flooring and walk-in closets. Community amenities will include a clubhouse, resort-style plunge pool, hot tub, courtyard, roof deck, remote working spaces, a fitness center and sub-grade parking garage. Rob Bova led the JLL Capital Markets team that secured the senior construction loan through FirstBank.

January 12, 2023

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