AURORA, COLO. — Watermark Residential, a wholly owned affiliate of Indianapolis-based Thompson Thrift, has completed the disposition of The Townhomes at Dayton Station, a leased townhome community in Aurora. RedPeak acquired the asset for $33.5 million. Located at 3899 S. Dallas St., the property features 12 three-story buildings offering a total of 63 townhomes for renters. Each private-entry townhome features a three- or four-bedroom layout, two-car garage, ample storage, gourmet bar-kitchens with quartz countertops, stainless steel appliances, walk-in closets, garden tubs and full-size washers/dryers.
DENVER — Capstone has brokered the sale of Sherman Commons, a 35-unit apartment community located at 10 S. Sherman St. in Denver’s West Washington Park neighborhood. An undisclosed buyer acquired the asset from an undisclosed seller for $8 million. The property offers a studio unit, 24 one-bedroom units and 10 two-bedroom units, as well as 34 off-street tenant parking spaces. This year, the building underwent renovations including new windows, stairs and landings. Brandon Kaufman and Nik MacCarter of Capstone represented the buyer in the deal.
EVANS, COLO. — Marcus & Millichap has brokered the sale of a Rodeway Inn hotel location at 3015 Eighth Ave. in Evans. Neville Rustomjee of Marcus & Millichap’s Denver office represented the seller, a limited liability company, and secured and assisted the buyer, also a limited liability company. Rodeway Inn features 96 guest rooms in an exterior corridor configuration. The buyer will implement a franchise property improvement plan and additional improvements to the property.
COLORADO SPRINGS, COLO. — KeyBank Community Development Lending and Investment (CDLI) has provided an $18.4 million bridge loan to TWG for the renovation and update of an apartment community in Colorado Springs. Built in 2003, Rosemont on Shadow Mountain features 144 mixed-income units, with 86 rent-restricted apartments and 58 market-rate units, spread across seven three-story, garden-style buildings. TWG plans to update the units, while preserving the affordability of the property. Once the renovation is complete, TWG plans secure long-term financing through KeyBank’s Commercial Mortgage Group. Kelly Frank and Alton Tinker of KeyBank’s CDLI team structured the financing.
BOULDER, COLO. — Chicago-based The John Buck Co. and Boulder-based Element Properties have broken ground for Platform, a multifamily property within S’PARK, a 6.8-acre mixed-use, mixed-income multifamily development in Boulder. Situated on 1.2 acres at 3350 Bluff St., Platform will feature 86 apartments in a mix of studio, one-, two- and three-bedroom apartments, as well as ground-level retail space. Residents of Platform will also be able to use the amenities of Timber, a sister apartment community located across the street. KTGY is designer for the project, which is slated for completion in summer 2022.
DENVER — Mill Creek Residential has completed the disposition of Modera Cap Hill, a multifamily property located in Denver’s Capitol Hill neighborhood. The name of the buyer and acquisition price were not released. Located at 1200 Grant St., Modera Cap Hill feature 197 studio, one- and two-bedroom floor plans averaging 782 square feet. Units feature private patios or balconies, high ceilings and premium finishes. Community amenities include a fitness studio and yoga room, pet spa, bike storage, electric car charging stations, controlled-access garage parking, rooftop lounge and sundeck, and an elevated pool deck with Rocky Mountain views. The property was built in 2019. Dan Woodward, David Potarf, Matt Barnett and Jake Young of CBRE represented the seller in the transaction.
LOUISVILLE, COLO. — Etkin Johnson Real Estate Partners has completed the disposition of a 16-property industrial portfolio in Louisville. An undisclosed institutional investor acquired the portfolio for $392.9 million. Totaling nearly 1.7 million square feet, the properties are located within Colorado Technology Center, a 580-acre master-planned business park near US Route 36 and the Northwest Parkway in Boulder County. Jeremy Ballenger, Tyler Carner, Jim Bolt, Tim Richey and Jessica Ostermick of CBRE represented the seller in the transaction.
DENVER — Trammell Crow Residential has completed the sale of Alexan 20th Street Station, a 12-story multifamily property in downtown Denver. Terms of the sale were not released. Located at 2080 California St., the asset features 354 apartments, structured parking, a pool and spa, two fifth-floor decks, a fitness center, multiple community areas and workspaces. In-unit finishes include quartz countertops, stainless steel appliances, contemporary cabinetry, tile backsplashes, large under-mount sinks, plank flooring, high ceilings and in-unit washers/dryers. The property was built in 2019. Terrance Hunt, Shane Ozment, Chris Cowan, Amanda Meldrum and Craig Ratterman of Newmark represented the seller in the transaction.
Avison Young Arranges $13 Million Sale of Mission-Critical Industrial Facility in Milliken, Colorado
MILLIKEN, COLO. — Avison Young has brokered the sale-leaseback of Ranger Energy Services’ mission-critical facility located at 3333 E. Center Drive in Milliken. Salt Lake City-based The Ninigret Group acquired the asset from Ranger Energy Services (NYSE: RNGR) for $13 million. Ranger Energy Services signed a long-term lease to continue to occupy the 131,389-square-foot facility, which was built in 2000 on 23.3 acres. The tenant utilizes the facility for oil and gas operations, including fleet maintenance and storage supporting the operations of Ranger’s region-wide DJ Basin energy services business. Ranger is an independent provider of well service rigs and associated services in the United States, with a focus on unconventional horizontal well completion and production operations. Rick Egitto, Dawn McCombs, Kevin Hann, Jonathan Hipp and Rich Murphy of Avison Young represented the seller and sourced the buyer in the deal.
CENTENNIAL, COLO. — Colorado-based Brue Baukol Capital Partners has broken ground on The District, a 36-acre mixed-use community adjacent to the Dry Creek rail station in Centennial. The walkable community will feature more than 2.5 million square feet of office space, a 200-key hotel, 1,800 residential units and over 30,000 square feet of retail space. Previously named the Jones District before rebranding to The District, the development will offer space for a range of flexible office spaces from small-scale co-working to multiple-building corporate headquarters. The project team includes Tryba Architects, Design Workshop, Martin/Martin Consulting Engineers and JHL Constructors. Completion for infrastructure work is slated for May 2021, with vertical construction on several planned projects scheduled to begin during the second half of 2021.