Colorado

Avanti Residential Acquires Forum Fitzsimons Apartment Complex in Metro Denver for $159M

by Amy Works September 23, 2021

AURORA, COLO. — Denver-based Avanti Residential has purchased Forum Fitzsimons, a Class A apartment community in Aurora. An undisclosed seller sold the property for $159 million. Located at Interstate 225 and Colfax Avenue, Forum Fitzsimons features 397 apartments, 28,202 square feet of retail space and a full amenity package for residents. Community amenities include two swimming pools, a 24-hour fitness center, bike repair shop and storage, three event clubrooms, and a dog washing area and bark park. The property was built in 2017 to meet the needs of workforce housing demand generated by the adjacent Fitzsimons Life Science District, a major employment center with 44,600 workers.

September 23, 2021

Acquisitions Colorado Office Western

Invesco Real Estate Divests of 186,231 SF Office Property in Broomfield, Colorado for $59.1M

by Amy Works September 23, 2021

BROOMFIELD, COLO. — Invesco Real Estate has completed the disposition of 105 Edgeview, a Class A office asset in Broomfield. An undisclosed buyer acquired the property for $59.1 million. John Jugl and John Gustafson of Newmark represented the seller in the transaction. Completed in 2012, 105 Edgeview features 186,231 square feet of office space within Interlocken Advanced Technology Environment. The property is fully leased to eight tenants with Gogo Inc., a global aero-communications service, as the anchor.

September 23, 2021

Colorado Development Multifamily Western

CP Capital, Greystar to Develop 288-Unit Brighton Park Apartments in Colorado

by Amy Works September 22, 2021

BRIGHTON, COLO. — CP Capital US has partnered with Greystar to develop Brighton Park, a multifamily property located at the intersection of Longs Peak Street and North 42nd Avenue in Brighton, a northeast suburb of Denver. Situated on 13 acres, the three-story, garden-style property will feature 288 apartments with stainless steel appliances and stone-surface countertops. Community amenities will include a fitness center, resort-style swimming pool, dog park, detached garages and surface parking spots. Groundbreaking is slated for the fourth quarter of 2021, with the first units scheduled for delivery in early 2023. Total build out is scheduled for the second quarter of 2023. CP Capital, formerly known as HQ Capital Real Estate, has partnered with Greystar on four development projects, with the most recently projects being The Gabriel in North Pomona, Calif., and Monty in North Charleston, S.C.

September 22, 2021

California Colorado Loans Multifamily Seniors Housing Western Wyoming

Capital Funding Group Provides $262.6M Refinancing for Skilled Nursing Portfolio in Colorado, California, Wyoming

by Amy Works September 15, 2021

BALTIMORE — Capital Funding Group, a Baltimore-based lender, has provided a $262.6 million term loan to refinance a 29-asset long-term care portfolio. Spanning Colorado, California and Wyoming, the portfolio includes 28 skilled nursing facilities and one joint skilled nursing and assisted living facility, with a total of 3,140 beds. The borrower is a privately owned real estate investment group. Erik Howard and Tim Eberhardt originated the transaction for Capital Funding Group.

September 15, 2021

Acquisitions Colorado Office Western

KBS Sells 593,527 SF Granite Tower Office Building in Denver

by Amy Works September 9, 2021

DENVER — KBS has completed the disposition of Granite Tower, a 31-story, Class A office tower located at 1099 18th St. in downtown Denver. A joint venture between CP Group and Related Fund Management acquired the building from KBS REIT II for an undisclosed price. Built in 1983 as part of a four-tower development and formerly known as Steller Plaza and Plaza Tower, the asset now consists of 592,527 square feet of office space and a 774-space, three-level parking structures with 615 spaces dedicated to its office tenants. Tim Richley, Jenny Knowlton, Chad Flynn, Charley Will and Alex Mulvihill of CBRE represented the seller in the transaction. Bruce Fischer, Howard Chu, Amanda Kennedy and Mark Baker of Greenberg Traurig LLP provided legal counsel to KBS in the disposition.

September 9, 2021

Acquisitions Colorado Multifamily Western

Pinnacle Real Estate Advisors Negotiates $15.9M Sale of Thirteen 20 Apartments in Colorado Springs

by Amy Works September 8, 2021

COLORADO SPRINGS, COLO. — Pinnacle Real Estate Advisors has arranged the sale of Thirteen 20 Apartments, a multifamily community located at 1320 Potter Drive in Colorado Springs. The property traded hands for $15.9 million in an off-market transaction. The asset features 132 apartments. The buyer and seller were not disclosed. Michael Krebsbach and Kenny Clarke of Krebsbach Investment Group and Andrew Monette of the Johnson Ritter team assisted both parties in the transaction.

September 8, 2021

Acquisitions Colorado Industrial Western

Karis Capital, AEW Sell Warehouse Facility in Downtown Denver for $114M

by Amy Works September 7, 2021

DENVER — A joint venture between Karis Capital and AEW has completed the disposition of a newly developed, Class A warehouse and distribution building in downtown Denver. A national real estate investment, development and management firm acquired the asset for $114 million. Located at 875 W. 64th St., the property features 147,000 square feet of industrial space and immediate access to interstates 25, 70 and 76 and the US 36 freeway. The property is fully leased to a global Fortune 100 company. Will Strong, Jeff Chiate, Jeffrey Cole, Mike Adey, Greer Oliver and Connor Nebeker-Hay of Cushman & Wakefield’s National Industrial Advisory Group represented the seller in the deal. Cushman & Wakefield’s Matt Trone, Steve Hager, Drew McManus, Ryan Searle and Joey Trinkle provided market leasing advisory.

September 7, 2021

Acquisitions Colorado Multifamily Northmarq Western

NorthMarq Brokers $88.7M Sale of Park 17 Multifamily Community in Denver

by Amy Works August 31, 2021

DENVER — NorthMarq has arranged the sale of Park 17, an apartment property located at 1210 E. 17th Ave. in Denver. Kairoi Residential sold the asset to an undisclosed buyer for $88.7 million. Completed in July 2020, Park 17 features 190 apartments in 34 floor plans ranging from 504 square feet to 1,663 square feet with nine- to 12-foot ceilings, modern technology packages, Moen plumbing fixtures, glass and custom porcelain backsplashes, Nest thermostats, keyless entries, stall showers and side-by-side refrigerators. On-site amenities include a fourth-floor infinity pool overlooking the Denver skyline. Dave Martin and Brian Mooney of NorthMarq’s Denver office represented the seller in the deal. David Link and Jeff DeHarty of NorthMarq’s Denver debt/equity team arranged $45 million in acquisition financing for the borrower through its relationship with a life insurance company. The transaction was structured with a 10 years of interest-only payments.

August 31, 2021

Acquisitions Colorado Office Western

Colorado Christian University Acquires Office Building in Lakewood, Colorado for $5M

by Amy Works August 30, 2021

LAKEWOOD, COLO. — Colorado Christian University has purchased 333 S Allison Parkway, an office and medical building in Lakewood. An undisclosed seller sold the asset for $5 million. Colorado Christian University plans to use the three-story, 35,741-square-foot building for its main offices and future site of its nursing school. Built in 1987, the property was formerly known as KeyBank Plaza. Garrett Neustrom and Jules Sherwood of Kenai Capital Advisors represented the seller, while Bob Pipkin and Jeff LaForte of Fuller Real Estate represented the buyer in the deal.

August 30, 2021

Acquisitions Colorado Industrial Office Western

Crescent Real Estate Purchases Two-Building, 119,977 SF Office/Retail Property in Denver

by Amy Works August 27, 2021

DENVER — An affiliate of Crescent Real Estate has acquired a two-building, 119,977-square-foot office and retail property, located at 200-250 Columbine St. in Denver, for $82.7 million. PCCP provided a $56.5 million senior loan for the acquisition of the asset. Western Development Co. sold the property. John Jugl of Newmark represented the seller in the deal. Constructed in 2015, the property features 89,195 square feet of office space and 30,782 square feet of retail space. The eight-story building at 200 Columbine St. features all the office space and 9,856 square feet of restaurant and retail space, as well as a two-story subterranean parking garage. The adjacent seven-story building at 250 Columbine St. features the remaining 20,926 square feet of ground-floor retail space. The building also includes 71 residential condominium units that were not part of the acquisition. The office and retail components of the property were fully occupied at the time of sale.

August 27, 2021

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