Colorado

Pinnacle Real Estate Advisors Negotiates $15M Sale of Residential Portfolio in Denver

by Amy Works April 6, 2022

DENVER — Pinnacle Real Estate Advisors has arranged the sale of a value-add multifamily portfolio, located at 1635 Cook St., 1671 Cook St. and 1620 Adams St. in Denver. The assets traded for $15 million, or $288,462 per unit. Situated in Denver’s City Park neighborhood, the properties, which were built in 1960 and 1968, offer a total of 52 apartments. Robert Lawson and Jim Knowlton of Pinnacle Real Estate Advisors represented the undisclosed sellers, while Joe Hornstein and Scott Fetter of NorthPeak Commercial Advisors represented the buyer in the deal.

April 6, 2022

Acquisitions Colorado Life Sciences Top Stories Western

BioMed Realty Acquires 1 MSF Flatiron Park Life Sciences Campus in Boulder, Colorado

by Taylor Williams April 4, 2022

BOULDER, COLO. — BioMed Realty, a San Diego-based owner-operator of healthcare real estate and a Blackstone portfolio company, has acquired Flatiron Park, a 1 million-square-foot office and life sciences campus in Boulder, a northwestern suburb of Denver. The sales price was not disclosed, but The Wall Street Journal reports that BioMed Realty paid more than $600 million for the property. JLL represented the seller, a joint venture between Crescent Real Estate, Goldman Sachs Asset Management and Lionstone Investments, in the transaction. BioMed Realty plans to invest about $200 million in capital improvements to the campus, an endeavor that is expected to create about 400 local construction jobs. Flatiron Park consists of 22 buildings that were approximately 90 percent leased at the time of sale. The buildings range in size from approximately 15,000 to 133,000 square feet. BioMed officials say that the campus will “anchor” its presence in the greater Denver area, which the company says has an exceptionally talented workforce “Boulder has always been a market to watch, driven by highly educated talent, robust capital flow, an existing base of life sciences and tech pioneers and great quality of life,” says Mike Ruhl, vice president of leasing at BioMed Realty. …

April 4, 2022

Acquisitions Colorado Multifamily Western

NorthPeak Commercial Brokers $15M Sale of Multifamily Portfolio in Denver

by Amy Works March 28, 2022

DENVER — NorthPeak Commercial Advisors has arranged the sale of a multifamily portfolio located at 1635 and 1671 Cook St., and 1620 Adams St. in Denver. The assets traded for $15 million. Totaling 30,023 square feet, the portfolio features 52 apartments. Joe Hornstein and Scott Fetter of NorthPeak Commercial Advisors represented the undisclosed buyer, while Robert Lawson of Pinnacle Real Estate Advisors represented the undisclosed seller in the deal.

March 28, 2022

Acquisitions Colorado Multifamily Western

Marcus & Millichap Brokers $27.6M Sale of Fairview Apartments in Aurora, Colorado

by Amy Works March 24, 2022

AURORA, COLO. — Marcus & Millichap has arranged the sale of Fairview Apartments, a multifamily property in Aurora. The asset traded for $27.6 million, or $276,000 per unit. Constructed in 1974 and renovated in 2018, Fairview Apartments features 30 three- and four-bedroom townhome units and 70 one- and two-bedroom flats. Within the last two years, all but 15 of the units have been upgraded. Situated on eight acres, the community also offers picnic and barbecue areas, playgrounds, a dog park, community garden and laundry facilities. Jason Hornik and Greg Price of Marcus & Millichap represented the undisclosed seller and procured the undisclosed buyer in the transaction.

March 24, 2022

9012-9032-9142-W-Ken-Caryl-Ave-Littleton-CO

Acquisitions Colorado Retail Western

Pinnacle Real Estate Advisors Brokers Sale of 37,458 SF Shopping Center in Littleton, Colorado

by Amy Works March 23, 2022

LITTLETON, COLO. — Pinnacle Real Estate Advisors has arranged the sale of a retail property located at 9012, 9032 and 9142 W. Ken Caryl Ave. in Littleton. The shopping center traded for $4.5 million. The property features 37,458 square feet of multi-tenant retail space. Dallas Sandberg of Pinnacle Real Estate Advisors represented the undisclosed seller, while Thomas Graeve of Pinnacle Real Estate represented the buyer in the deal.

March 23, 2022

Acquisitions Colorado Net Lease Retail Western

Blue West Capital Arranges Sale of O’Reilly Auto Parts-Occupied Building in Lakewood, Colorado

by Amy Works March 22, 2022

LAKEWOOD, COLO. — Blue West Capital has brokered the sale of a retail property located at 5807 W. Colfax Ave. in Lakewood. A California-based family office sold the asset to a California-based investor for $2.8 million. O’Reilly Auto Parts has occupied the property on a net-lease basis since 1998, with approximately four years remaining on its lease. Brandon Gayeski of Blue West Capital represented the seller and buyer in the deal.

March 22, 2022

Acquisitions Colorado Retail Western

Boulder Group Arranges $6.8M Sale of Tractor Supply-Occupied Asset in Lafayette, Colorado

by Amy Works March 17, 2022

LAFAYETTE, COLO. — The Boulder Group has arranged the sale of a single-tenant retail property located at 825 US Highway 287 in Lafayette. The building traded for $6.8 million. Nashville, Tenn.-based Tractor Supply Co. occupies the 21,930-square-foot building on a net-lease basis. Randy Blankstein and Jimmy Goodman of The Boulder Group represented the California-based 1031 exchange buyer, while Andrew Bogardus of Cushman & Wakefield represented the undisclosed seller in the transaction.

March 17, 2022

Colorado Loans Office Western

JLL Arranges $135.7M Refinancing for Office Building in Downtown Denver

by Amy Works March 16, 2022

DENVER — JLL Capital Markets has secured $135.7 million in refinancing for 1125 17th Street, a Class A office building in downtown Denver. The borrower was a joint-venture partnership between Hines, Pearlmark and an undisclosed limited partnership. Eric Tupler and Chris McColpin of JLL Capital Markets secured the five-year, floating-rate bridge financing through Deutsche Bank for the borrower. Located at 1125 17th St., the 25-story property features 494,689 square feet of office space with 20,000 square-foot average floor plates, parking for more than 400 vehicles and a Starbucks-occupied retail portion on the ground level. Additional tenant amenities include a basketball court, bocce court, full-service fitness club, juice and smoothie bar, electric vehicle charging stations and lounge with conference space. The property was renovated in 2021 and is currently 60 percent leased to a diverse rent roll spanning many industries, including information technology, healthcare, financial services and energy.

March 16, 2022

Acquisitions Colorado Multifamily Northmarq Western

Northmarq Brokers $29.1M Sale of Highline Lofts Apartments in Aurora, Colorado

by Amy Works March 16, 2022

AURORA, COLO. — Northmarq has arranged the sale of Highline Lofts Apartments, a multifamily property located at 456 S. Ironton St. in Aurora. Lowe Property Group sold the property to Summit Communities for $29.1 million, or $260,000 per unit. Built in 1972, Highline Lofts Apartments features 112 units in a mix of one-, two- and three-bedroom floor plans, ranging from 740 square feet to 1,395 square feet. Alex Possick, Rich Ritter and Seth Gallman of Northmarq’s Colorado Multifamily Investment Sales team represented the seller in the deal.

March 16, 2022

Acquisitions Colorado Multifamily Western

Pinnacle Real Estate Advisors Brokers $5.6M Sale of Sun Haven Apartments in Pueblo West, Colorado

by Amy Works March 14, 2022

PUEBLO WEST, COLO. — Pinnacle Real Estate Advisors has negotiated the sale of Sun Haven Apartments, a multifamily community located at 201 S. McCulloch Blvd. in Pueblo West. An undisclosed buyer acquired the asset for $5.6 million, or $78,875 per unit. Built in 1970 and renovated in 2008, Sun Haven Apartments features 71 units and a large amount of excess land. Michael Krebsbach of Pinnacle represented the seller, while Jamie Mitchell of Pinnacle represented the buyer in the deal.

March 14, 2022

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