HIGHLANDS RANCH, COLO. — Century Living has completed the sale of Aventine Littleton, an apartment property in Highlands Ranch, a community about 18 miles south of Denver. Equity Residential acquired the asset for an undisclosed price. Terrance Hunt, Shane Ozment, Chris Hart and Brad Schlafer of CBRE represented the seller in the deal. Located at 2503 Primo Road, the five-building community offers 227 one-, two- and three-bedroom units averaging 1,028 square feet. The apartments offer stainless steel appliances, quartz countertops, smart-home technology and managed Wi-Fi, walk-in closets, full-size washers and dryers and roller shades. Additionally, select units offer balconies with views of the mountains and downtown. Community amenities include a fitness center, lap pool, hot tub, sunroom, outdoor community kitchen, clubhouse, conference room, workspaces, pet spa, storage units, 26 detached garages, 74 attached garages and 328 surface parking spaces.
Colorado
DENVER — Trailbreak Partners and Quannah Partners have acquired Kabin Apartments, a multifamily building located within Zeppelin Development’s TAXI project in Denver’s River North Art District (RiNo). The partnership purchased the community from Zeppelin Development for an undisclosed price. Located at 2095 31st St., Kabin Apartments offers 194 residences. The 28-acre mixed-use TAXI Campus features 10 buildings, more than 110 businesses, including BOA Technology’s global headquarters, and more than 350 full-time residents. Campus-wide amenities include a shipping container pool, sand volleyball court, community gardens, bike storage, dog parks, retail spaces, 24/7 security and a 7,000-square-foot fitness center. Dorit Fischer and Hayden Hirschfeld of NAI Shames Makovsky represented Zeppelin Development in the deal.
Marcus & Millichap Arranges Sale of 78,571 SF Oakbrook Shopping Center in Littleton, Colorado
by Amy Works
LITTLETON, COLO. — Marcus & Millichap has brokered the sale of Oakbrook Shopping Center, a retail property located at 309-311 E. County Line Road in Littleton. The property consists of a 30,466-square-foot neighborhood strip center, fully leased to 15 tenants, and a 48,214-square-foot anchor space, which is occupied by O’Reilly Auto Parts Super Hub. The assets sold in separate transactions to different buyers for a combined total of $13.5 million. Ryan Bowlby and Drew Isaac of Marcus & Millichap’s Denver office represented the seller, Denver-based Sidford Capital, in the transaction.
CASTLE PINES, CALIF. — Thompson Thrift has completed the disposition of Citadel at Castle Pines, a 214-unit apartment community in the Denver suburb of Castle Pines. Terms of the transaction were not released. Matt Barnett, Jake Young and Taylor Payne of Walker & Dunlop brokered the sale. Located at 353 Edge View Circle, Citadel at Castle Pines features 154 one- and two-story paired villa-style homes and 60 three-story townhomes. Completed in December 2023, the one-, two-, three- and four-bedroom apartments include designer interiors, quartz countertops, stainless steel and energy-efficient appliances, attached garages and full-size washers/dryers. Community amenities include a resident social lounge, pickleball courts, a 24/7 fully equipped fitness center, resort-style pool and spa, poolside cabanas and grills, a dog park and dog spa.
Marcus & Millichap Negotiates Sale of 94-Room Extended-Stay Hotel in Westminster, Colorado
by Amy Works
WESTMINSTER, COLO. — Marcus & Millichap has negotiated the sale of Residence Inn by Marriott Denver North Westminster, Colorado in Westminster, a suburb 12 miles north of Denver. Dallas-based NewcrestImage sold the extended-stay hotel to Archer Capital Group for an undisclosed price. Chris Gomes of Marcus & Millichap represented the seller. Gomes, along with Allan Miller and Christy McDougall of Marcus & Millichap, procured the buyer. Adam Lewis is Marcus & Millichap’s broker of record in Colorado. Located at 5010 W. 88th Place, the four-story Residence Inn by Marriott offers 94 extended-stay suites with kitchens, separate living areas and modern amenities.
DENVER AND BEAVERTON, ORE. — BWE, the commercial finance firm formerly known as Bellwether Enterprise Real Estate Capital, has arranged a $260 million loan for the refinancing of a national portfolio of six multifamily properties totaling roughly 1,500 units. Two of the properties — Hartley Flats and Studio LoHi — are located in Denver, and a third, Victory Flats, is located in Beaverton, Ore. The other properties in the portfolio are in Austin and Charlotte. All properties were constructed within the past decade, and the portfolio had an occupancy rate of approximately 95 percent at the time of the loan closing. Northwestern Mutual provided the five-year loan, which was structured with a 5.07 percent interest rate, full-term interest-only payments and a 55 percent loan-to-value ratio. The borrower was not disclosed.
KPR Centers Receives $33.9M in Financing to Acquire University Hills Retail Center in Denver
by Amy Works
DENVER — KPR Centers has received $33.9 million in financing for the acquisition of University Hills, a grocery-anchored shopping center in Denver. The name of the seller and final sales price were not released. Sunny Sajnani and Travis Headapohl of Institutional Property Advisors (IPA) Capital Markets arranged the five-year life company financing, which includes fixed-rate, full-term interest-only payments and prepayment open at par for the last year. Tom Lagos of IPA retail investment sales procured the buyer in the sales transaction. At the time of sale, University Hills was fully occupied. Tenants include King Soopers, Michaels, Marshalls, Office Depot and Ulta.
RBR Interquest Sells Fuzzy’s Taco Shop-Occupied Restaurant Property in Colorado Springs for $3.5M
by Amy Works
COLORADO SPRINGS, COLO. — RBR Interquest R E LLC has completed the sale of a restaurant property at 1375 Interquest Parkway in Colorado Springs to Patterson Living Trust for $3.5 million, or $678 per square foot. Jared Goodman, Anne Spry, Aki Palmer and Cole VanMeveren of Cushman & Wakefield represented the seller in the deal. Fuzzy’s Taco Shop, a fast-casual restaurant serving Baja-style Mexican food, occupies the 5,160-square-foot property on a triple-net lease basis. Situated on 1.5 acres, the property features a large patio and 60 parking spaces.
DENVER — Malman Commercial Real Estate has arranged the sale of 4600 Ironton Street, an industrial property in Denver. GS Ironton LLC sold the asset to Aspen Ironton LLC for $4.5 million. The property offers 37,636 square feet of industrial space. Jake Malman and Dan Prevedel of Malman Commercial Real Estate represented the seller, while Taylor Roy, also with Malman, represented the buyer in the deal.
LAKEWOOD, COLO. — Quantum Real Estate Advisors has arranged the sale of a freestanding retail building in Lakewood. A West Coast-based private trust sold the asset to a West Coast-based family for $1.8 million. Starbucks Coffee occupies the property, which was sold for 100 percent of list price. Nick Hilgendorf and Zack Hilgendorf of Quantum Real Estate Advisors represented the seller, while Matt Lipson of Northmarq represented the buyer in the transaction.