FORT COLLINS, COLO. — NorthPeak Commercial Advisors has arranged the sale of an office building located at 3555 Stanford Road in Fort Collins. The property traded for $3.3 million, or $171 per square foot. Kevin Calame and Matt Lewallen of NorthPeak Commercial Advisors represented the undisclosed seller in the deal. The name of the buyer was not released. The 19,323-square-foot building features 13 office suites.
DENVER — A joint venture between Rancho Santa Margarita, Calif.-based Kairos Investment Management Co. and Harbor Associates has purchased The George, an office and retail property located at 820 16th St. in Denver. Terms of the transaction were not released. Constructed in 1906 and renovated in 2020, The George is an eight-story, 91,027-square-foot office building with ground-floor retail space. The asset recently received property improvements, including new conference areas, a new lounge, updated HVAC and bicycle storage.
PARKER, COLO. — Unique Properties/TCN Worldwide has arranged the purchase of a flex property located at 10120 Twenty Mile Road in Parker. A California-based buyer acquired the asset from a local owner/developer for $4.8 million, or $365 per square foot. Brett MacDougall and Michael DeSantis of Unique Properties/TCN Worldwide represented the buyer in the deal. The approximately 1,315-square-foot building is fully occupied by two long-term tenants on triple-net leases.
DENVER — Stockdale Capital Partners has acquired The Source, a hotel located in Denver’s River North Arts District, for $61.9 million. The transaction also included a 300-stall parking garage and 17,000-square-foot surface parking lot. The Source features 100 guest rooms, a full-service rooftop restaurant, 5,575 square feet of event space, a fitness center, rooftop pool and business center. Additionally, the hotel offers 44,000 square feet of onsite restaurant and retail space in its Market Hall I & II locations. Stockdale Capital plans to refresh guest rooms, re-imagine the rooftop restaurant, “activate the hotel lobby experience” and create additional revenue drivers for the hotel’s retail space. The name of the seller was not released.
BROOMFIELD, COLO. — Mesa West Capital has provided Sares Regis Group with $139.9 million in first mortgage debt for its acquisition and repositioning of Terracina Apartments, located at 13620 Via Varra Road in Broomfield. Built in 2010, the 16.5-acre community features 386 apartments in a mix of one- and two-bedroom apartments spread across four four-story residential buildings. On-site amenities include a pool and hot tub, clubhouse, fitness center, coworking lounge, dog park, pet wash, fire pit and grilling area, and outdoor games area. At the time of sale, the property was 95.1 percent leased. Brian Torp of Jones Lang LaSalle arranged the financing. A portion of the loan proceeds will help fund the borrower’s capital improvement plan that will feature upgrades to unit interiors, as well as the renovation of the community’s common areas. The floating-rate loan features a five-year term.
DENVER, COLO. — New York-based IG Logistics LLC and Meadow Partners have purchased a 26.7-acre industrial storage yard/trailer site in central Denver for $19 million. Located at 409 W. 66th Ave., the vacant property is zoned for outside storage and includes a 10,000-square-foot freestanding industrial building with 6,500 square feet of office space, two drive-thru service bays and 14-foot clear heights. IG Logistics, Imperium Capital’s industrial platform, is an owner-operator of industrial properties that have a large outdoor storage or transportation component. The company specializes in acquiring and developing infill assets in high-barrier-to-entry urban growth markets where demand for logistics real estate is driven by e-commerce. The company’s strategy focuses on last-mile facilities that are mission critical to the supply chain. The buyers have retained Matt Trone and Joey Trinkle of Cushman & Wakefield to lead marketing efforts for the asset. The property can accommodate a single user or multiple.
EDGEWATER, COLO. — Unique Properties/TCN Worldwide and the Unique Apartment Group have arranged the sale of Terra Village Apartments, a multifamily community located at 6201 26th Ave. in Edgewater. California-based Trion Properties acquired the asset for $110 million, or $273,631 per unit. Terra Village features 402 apartments. Recent renovations include new kitchen cabinets, stainless steel appliances, tile backsplashes, updated bathrooms and in-unit washers/dryers. Marc Lippitt, Elliott Polanchych, Will McCauley, Phil Dankner and Kevin Higgins of Unique Properties represented the undisclosed sellers in the deal.
AURORA, COLO. — Marcus & Millichap has negotiated the sale of The Fitz on 14th, an apartment property in Aurora. The community traded for $34.4 million, or $195,455 per unit. The names of the buyer and seller were not released. Constructed in 1973, Fitz on 14th features 176 apartments in a mix of 18 studios and 158 one-bedroom units with open kitchens. Community amenities include a resort-style pool, barbecue/picnic area, playground, dog park, on-site leasing office, laundry facilities and a fully equipped workout room. Jason Hornik and Greg Price of Marcus & Millichap’s Denver office represented the seller and buyer in the transaction.
FEDERAL HEIGHTS, COLO. — Brinkman Real Estate has completed the disposition of Windom Peak Apartments, a multifamily property located at 120 E. Grace Place in Federal Heights. An undisclosed buyer acquired the asset for $24.6 million, or $262,234 per unit. Built in 1964, Windom Peak features 94 units spread across a mix of one-story apartment buildings and two-story townhomes offering one-, two- and three-bedroom floorplans. During Brinkman’s ownership, the company added an energy-efficient boiler, insulation to reduce energy loss on existing systems, and low-flow toilets and fixtures. Jake Young, David Potarf, Dan Woodward and Matt Barnett of Walker & Dunlop represented Brinkman in the deal.
COLORADO SPRINGS, COLO. — CBRE has arranged the sales of two shopping centers in Colorado Springs for a total consideration of $13.8 million. Park Brown, Matthew Henrichs and Brad Lyons of CBRE’s National Retail Partners represented the sellers in each transaction. A Colorado-based private investor acquired the Springs Ranch Shopping Center for $8.3 million, and a San Diego-based 1031 exchange investor purchased Peterson Square for $5.5 million. Located at 6010-6080 N. Carefree Circle, Springs Ranch Shopping Center features 40,331 square feet of multi-tenant retail space. Springs Liquor Outlet anchors the fully leased property. A Denver-based private partnership sold the asset. Located at 6809 Space Village Ave., Peterson Square offers 14,182 square feet of fully occupied retail space. A Denver-based private fund sold the center.
