Colorado

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

Arizona California Colorado Loans Multifamily Utah Western

KeyBank Arranges $191M Refinancing for Five-Property Wasatch Group Multifamily Portfolio

by Amy Works March 9, 2022

LOGAN, UTAH — KeyBank Real Estate Capital has arranged $191 million in life company loans for the Wasatch Group, a fully integrated real estate development, construction, property management and guaranty capital company based in Logan. The loans will refinance debt on five apartment communities across the Rocky Mountains and Western United States. The portfolio comprises 1,398 units in Arizona, California, Colorado and Utah. Brian Caudel, Mike Keach, Greg Halvorson and Jack Tidrick of KeyBank structured the financing, which includes loans with seven-year, full-term interest-only structures and a 2.62 percent interest rate.

March 9, 2022

Colorado Development Industrial Western

Ware Malcomb Completes Construction of 197,000 SF Basalite Plant in Fort Lupton, Colorado

by Amy Works March 9, 2022

FORT LUPTON, COLO. — Ware Malcomb and Murray and Stafford, as general contractors, have completed the development of Basalite Plant, a manufacturing facility located at 1801 S. Rolle Ave. in Fort Lupton. Built to manufacture concrete masonry units and pavers, the 197,000-square-foot facility features 60-foot ceilings in certain areas to house equipment up to 50 feet tall. The project contains approximately 9,000 square feet of office space, including a lobby, conference rooms, breakrooms and an IT room. Related site works include a waste area, a crush storage area and outdoor product storage. Ware Malcomb’s Denver and Pleasanton, Calif., offices provided the civil engineering, architecture and interior design services for the project.

March 9, 2022

Acquisitions Colorado Restaurant Retail Western

Monfort Cos. Sells Retail Property in Denver’s LoDo Neighborhood for $24M

by Amy Works March 3, 2022

DENVER — Monfort Cos. has completed the sale of 1946 Market Street, a retail building located in Denver’s LoDo neighborhood. Jim Blumenthal, a local real estate investor, acquired the asset for $24 million. Monfort Cos. and Riot Hospitality Group will continue to lease and operate Dierks Bentley’s Whiskey Row, which recently opened in the 22,000-square-foot property following a renovation of the original building, including a 6,000-square-foot addition. Whiskey Row opened in New Year’s Eve.

March 3, 2022

Acquisitions Colorado Industrial Loans Western

Essex Arranges $7.9M Acquisition Loan for Industrial Property in Louisville, Colorado

by Amy Works March 1, 2022

LOUISVILLE, COLO. — Essex Financial Group has secured $7.9 million in financing for the acquisition of 1850 Dogwood, an industrial warehouse/production facility within Colorado Tech Center in Louisville. Ivy Realty is the borrower and buyer. Alternative Foods, a wholly owned subsidiary of Savencia Fromage & Dairy, fully occupies the 58,901-square-foot property. The company uses the property as a processing facility for plant-based foods. The facility features 20-foot clear heights, dock-high and drive-in doors, and infrastructure for the tenant’s food production and processing lines. Paul Donahue, Cooper Williams, Nate Schneider and Andrea Mehlem of Essex arranged the five-year, fixed-rate loan for the borrower.

March 1, 2022

Colorado Development Hospitality Western

Matthews Southwest Hospitality Unveils Plans for US Air Force Academy Hotel in Colorado Springs

by Amy Works February 25, 2022

COLORADO SPRINGS, COLO. — Matthews Southwest Hospitality (MSWH) has unveiled plans for a United States Air Force Academy Hotel in Colorado Springs. The development site is located at the U.S. Air Force Academy (USAFA) campus beneath Pikes Peak and the Rocky Mountains. The 317,000-square-foot resort-style hotel will feature 375 guest rooms with 19 suites; 26,000 square feet of meeting space and flexible banquet space with exterior terraces; a 12,000-square-foot grand ballroom and 6,000-square-foot junior ballroom; a signature rooftop bar and restaurant; six food and beverage outlets; fitness and spa facilities; an elevated pool; event lawn; and numerous outdoor spaces. The hotel will be part of TrueNorth Commons, a mixed-use development at the North Entrance of the U.S. Air Force Academy, which will include a USAFA visitor campus and commercial retail and office space. MSWH is developing the property with owner Provident Group – Falcon Properties. Atlanta-based BLUR Workshop is serving as architect and interior designer and GE Johnson will serve as general contractor. CoralTree Hospitality will manage the hotel. Construction is slated to begin this spring, with completion scheduled for 2024.

February 25, 2022

Acquisitions Colorado Multifamily Student Housing Western

CBRE Arranges Sale of Two-Property Student Housing Portfolio Near the University of Colorado, Boulder

by Amy Works February 24, 2022

BOULDER, COLO. — CBRE has arranged the sale of a two-property student housing portfolio located near the University of Colorado, Boulder. Greystar acquired the communities — The Hive 9Seventy and The Hive Baseline — for an undisclosed price. Jaclyn Fitts, William Vonderfecht and Casey Schaefer of CBRE represented the undisclosed seller in the transaction. The Hive 9Seventy is located at 970 28th St. and The Hive Baseline is located at 2726 Moorhead Ave. Both properties are located within walking distance of the university. “Our team is thrilled to represent this significant transaction in the high-barriers-to-entry Boulder market,” says Fitts. “The portfolio received amazing interest from investors and offered average monthly per-bed rents of $1,532, with the ability to drive revenue through furnishing the properties and unit renovations at The Hive Baseline.”

February 24, 2022

Colorado Development Restaurant Retail Western

Buc-ee’s Unveils Plans for First Travel Center Outside the South in Colorado

by Amy Works February 22, 2022

JOHNSTOWN, COLO. — Buc-ee’s has unveiled plans to enter the Colorado market with a travel center in Johnstown, approximately 60 minutes north of Denver. The development, which is the company’s first location outside of the South, is set to open in 2024. Located south of Weld County Road 48 and west of Interstate 25, the 74,000-square-foot Buc-ee’s Johnstown will offer 120 fueling positions and a store with thousands of snack, meal and drink options, including Texas barbecue, homemade fudge, kolaches, jerky and fresh pastries, for travelers. The location will be the most western and highest altitude Buc-ee’s to date. Founded in 1982, Buc-ee’s has 35 stores across Texas. The company begin its multi-state expansion in 2019 and now has locations in Florida, Georgia, Alabama, South Carolina, Kentucky and Tennessee.

February 22, 2022

Newer Posts

Older Posts