Colorado

High Street Residential, CBRE Investment to Develop 252-Unit Residences at Olde Town Station Near Denver

by Amy Works October 14, 2021

ARVADA, COLO. — High Street Residential and its joint venture partner CBRE Investment Management, on behalf of the CBRE U.S. Development Partners 5 fund, will develop The Residences at Olde Town Station, a multifamily community in Arvada. The four-story property will feature 252 units ranging from studio to two-bedroom layouts over two levels of structured parking. On-site amenities will include a fitness center, clubroom, lounge, rooftop deck, two courtyards with lounge seating and fire pits, a resort-style pool and a dog park. The Eisen Group is serving as architect and PCL Construction is the general contractor. Citizens Bank provided financing for the project. High Street Residential is Trammell Crow Co.’s residential subsidiary. Construction is slated to begin in early October with final completion scheduled for late 2023.

October 14, 2021

Acquisitions Colorado Loans Multifamily Western

KeyBank Provides $40M in Acquisition Financing for Enchanted Springs Apartments in Colorado Springs

by Amy Works October 13, 2021

COLORADO SPRINGS, COLO. — KeyBank Real Estate Capital has secured a $40 million Freddie Mac loan for Hamilton Zanze, a San Francisco-based real estate investment company, for the acquisition of Enchanted Springs, an apartment property in Colorado Springs. Built in 2020, Enchanted Springs features 200 one-, two- and three-bedroom apartments spread across 10 three-story residential buildings. Community amenities include a pool, hot tub, sundeck, cabanas, grilling areas, fitness center and clubhouse lounge. Paul Angle and Nicholas Lynn of KeyBank Real Estate Capital structured the financing. The loan features a 10-year term with five years of interest-only payments followed by a 30-year amortization schedule.

October 13, 2021

Colorado Development Industrial Western

Opus Buys 19.7-Acre Site in Metro Denver to Develop Two Spec Industrial Buildings

by Amy Works October 13, 2021

CENTENNIAL, COLO. — Opus Development Corp. has purchased a 19.7-acre land site at 7801 S. Fairway St. within the Dove Valley submarket of Centennial. Heirborn Partners sold the parcel for an undisclosed price. Opus plans to develop The Ridge at Dover Valley, a two-building speculative industrial development, at the site. The 102,877-square-foot building will offer 26 dock positions, four drive-in doors and 210 parking stalls, while the 116,524-square-foot building will offer 26 dock positions, four drive-in doors and 250 parking stalls. Both buildings will be Class A industrial facilities featuring extensive glass and architectural design elements. Completion is slated for May 2022. Opus is the developer, design-builder, architect and engineer of record for the property. Todd Witty and Daniel Close of CBRE are marketing the buildings for lease. Rick Egitto of Avison Young represented the seller, while Witty represented the buyer in the deal.

October 13, 2021

Acquisitions Colorado Industrial Western

BlueScope Properties Divests of 136,915 SF Logistics Center Near Denver

by Amy Works October 13, 2021

ENGLEWOOD, COLO. — BlueScope Properties Group has completed the sale of a logistics center situated on 12 acres at 14353 E. Otero Ave. in Englewood, a suburb seven miles south of Denver. Terms of the off-market transaction were not released. Completed in 2021, the 136,915-square-foot building features 32-foot clear heights, 37 exterior dock doors, three drive-in bays, ESFR fire protection, office space and ample parking. The single-tenant building, which was vacant at the time of sale, also has a rear-loading configuration. Larry Thiel and Sean Devaney of JLL Capital Markets and Carmon Hicks with JLL Industrial Leasing represented the seller in the deal. Hicks, Chris Schultz and James McGill, also of JLL, are handling leasing for the new owner.

October 13, 2021

Acquisitions Colorado Multifamily Student Housing Western

Hybridge Capital, Productive Capital Acquire 360-Bed Student Housing Property in Denver

by Amy Works October 13, 2021

DENVER — Los Angeles-based Hybridge Capital Management, in partnership with Productive Capital Associates, has purchased The Villas, a 120-unit student housing community in Denver. Central Street Capital sold the asset for $40 million in an off-market transaction. Located at 2555 31st St., The Villas features 360 beds. The buyers plan to completely renovate the property and add a clubhouse, gym, pool and dog park to the community.

October 13, 2021

Acquisitions Colorado Industrial Western

Gart Properties, Elkco Properties Sell West Sixth Commerce Center in Colorado for $17.8M

by Amy Works October 13, 2021

LAKEWOOD, COLO. — Gart Properties and Elkco Properties have completed the disposition of West Sixth Commerce Center, an industrial property located at 11111 West 6th Ave. in Lakewood. DocuVault acquired the asset for $17.8 million. DocuVault will occupy 52,877 square feet of the 154,950-square-foot building and lease the remaining space. The property features 32-foot clear heights and heavy power. Buzz Miller and Peter Beugg of Stream Realty Partners represented the seller, while Matt Capecelatro of Citywide Commercial Properties and Mark Dwyer of Lincoln Property Co. represented the buyer in the transaction.

October 13, 2021

Acquisitions Colorado Multifamily Western

MG Properties Enters Denver Market with $108.2M Acquisition of Neon Local Apartments

by Amy Works October 4, 2021

DENVER — San Diego-based MG Properties Group has acquired Neon Local Apartments, a multifamily property located in Denver’s South Broadway neighborhood. North America Sekisui House and Holland Partner Group sold the asset for $108.2 million. Built in 2020, Neon Local Apartments features 238 apartment and proximity to mass transit and commuter freeways. Jordan Robbins and Pamela Koster of JLL represented the sellers. JLL Capital Markets’ Charles Halladay, Rick Salinas, Brandon Smith and Annie Rice arranged acquisition financing through an affiliate of Apollo Global Management.

October 4, 2021

Acquisitions Colorado Multifamily Western

Capstone Brokers $64.5M Sale of Mesa Verde Apartments in Arvada, Colorado

by Amy Works October 4, 2021

ARVADA, COLO. — Capstone has arranged the sale of Mesa Verde Apartments, a multifamily property located at 9700 W. 51st Place in Arvada. An undisclosed buyer acquired the property for $64.5 million. Mesa Verde Apartments features 276 apartments in a mix of one-, two- and three-bedroom layouts with individually controlled heating and air conditioning and walk-in closets. The community includes volleyball and basketball courts, an outdoor swimming pool, playground and picnic area, as well as off-street parking for residents. The buyer plans to perform interior renovations, add additional units to the community, build a clubhouse for resident use, add a gate surrounding the property and resurface the parking lots. Brandon Kaufman of Capstone represented the buyer in the deal.

October 4, 2021

Colorado Development Healthcare Office Western

NexCore to Develop 130,000 SF Medical Office Building for SCL Health in Wheat Ridge, Colorado

by Amy Works September 30, 2021

WHEAT RIDGE, COLO. — SCL Health has selected NexCore to develop Clear Creek Crossing Medical Office Building on the Lutheran Medical Campus in Wheat Ridge. The five-story, 130,000-square-foot facility will be the first medical office building on the new 28-acre hospital campus, which will replace SCL Health’s existing Lutheran Medical Center 3.5 miles away. Construction began in June for the new campus, which will be part of the planned 100-acre Clear Creek Crossing mixed-use development at the southwest corner of State Highway 58 and Interstate 70. NexCore plans to break ground on the medical office building in late 2022, with completion slated for early 2024. The new facility will include SCL Health outpatient clinics and services, as well as an ambulatory surgical center.

September 30, 2021

Acquisitions Colorado Retail Western

Blue West Capital Arranges Sale of 19,138 SF Abilene Marketplace in Aurora, Colorado

by Amy Works September 29, 2021

AURORA, COLO. — Blue West Capital has brokered the sale of Abilene Marketplace, a multi-tenant retail property located at 1113 S. Abilene St. in Aurora. A California-based seller sold the property to a California-based investor for an undisclosed price. The 19,138-square-foot property was fully leased at the time of sale. Tenants include Verizon Wireless, Mattress Firm, EyeCare Specialties of Colorado, Canvas Credit Union and Scrubs & Beyond. Tom Ethington of Blue West Capital represented the seller in the transaction.

September 29, 2021

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