Colorado

Carmel Partners Divests of 403-Unit The Henry Multifamily Complex in Denver

by Amy Works July 30, 2021

DENVER — Carmel Partners has arranged the sale of The Henry, an apartment community located at 201 Mississippi Ave. in Denver’s Platt Park neighborhood. Terms of the transaction were not released. Carmel Partners was the developer, builder and owner of The Henry, which opened in October 2018. Situated on four acres, the community features 403 apartments, a courtyard with resort-style pool and spa, alfresco dining areas, co-working space, a fitness center, yoga studio and a 3,400-square-foot bicycle repair and locker space. At the time of sale, The Henry was 96 percent occupied.

July 30, 2021

Acquisitions California Colorado Industrial Self-Storage Washington Western

CBRE Global Investors Buys Four Self-Storage Facilities in Colorado, California, Washington Totaling 3,746 Units

by Amy Works July 30, 2021

BOULDER, COLO.; VISTA, CALIF.; AND BOTHELL AND LAKE STEVENS, WASH. — A fund sponsored by CBRE Global Investors has purchased four self-storage properties totaling 3,746 units and 296,286 square feet. Terms of the transaction were not released. The acquired assets, which were all delivered in 2020, are: The 69,115-square-foot StorQuest Boulder, located at 4790 Pearl St. in Boulder, featuring 772 climate-controlled units. The 74,416-square-foot StorQuest Vista, located at 943 S. Melrose Drive in Vista, with 899 climate-controlled units. The 74,805-square-foot StorQuest Bothell, located at 21008 Bothell Everett Highway in Bothell, offering 1,155 climate-controlled units. The 77,950-square-foot StorQuest Lake Stevens, located at 1113 WA-204 in Lake Stevens, with 920 climate-controlled units. With these acquisitions, the fund now owns 19 self-storage assets, totaling 13,650 units, across the United States.

July 30, 2021

Acquisitions Colorado Multifamily Western

Capstone Brokers $4.1M Sale of Apartment Building in Colorado Springs

by Amy Works July 30, 2021

COLORADO SPRINGS, COLO. — Capstone has arranged the sale of Red Rocks Terrace, a multifamily property located at 3164 W. Colorado Ave. in Colorado Springs. The building traded hands for $4.1 million. The names of the seller and buyer were not released. The 16,350-square-foot property features two studio units, five two-bedroom units and 16 one-bedroom units. Almost all units were renovated within the last two years and significant improvements were made to the exterior of the property. Sean Holamon of Capstone represented the seller in the transaction.

July 30, 2021

Colorado Development Multifamily Western

Titan, Pivot to Develop $80M Lock at Flatirons Multifamily Community in Broomfield, Colorado

by Amy Works July 27, 2021

BROOMFIELD, COLO. — A joint venture between Titan Development and Pivot Development has unveiled plans for The Lock at Flatirons, an apartment property located in the Interlocken Technology Park in Broomfield. Situated on 3.3 acres, The Lock at Flatirons will feature 254 apartments, a fitness center, resort-style pool, bike storage and stations, secure access parking, technology packages throughout the property and co-working space. Construction is slated to begin in third-quarter 2021, with completion planned within approximately 28 months.

July 27, 2021

Greenwood-Corporate-Plaza-Greenwood-Village-CO

Acquisitions Colorado Office Western

Viking Partners, Bancroft Capital Acquire 412,869 SF Greenwood Corporate Plaza Near Denver

by Amy Works July 23, 2021

GREENWOOD VILLAGE, COLO. — Viking Partners Management, on behalf of its fourth value-add fund, and Bancroft Capital have purchased Greenwood Corporate Plaza, a suburban office campus located at 5990 Greenwood Plaza in Greenwood Village. An undisclosed seller sold the asset for $38.4 million. Built in 1981 and renovated in 2015, Greenwood Corporate Plaza features four identical, three-story, Class B office buildings totaling 412,869 square feet on 36 acres. At the time of sale, the property was 57 percent occupied. The buyers plan to implement a capital improvement plan that will include replacing the roofs and HVAC systems; modernizing building entrances and exterior lighting; reforming the outdoor hardscape; and refreshing the elevators, bathrooms, lobbies and hallways.

July 23, 2021

Acquisitions Colorado Multifamily Western

Manulife Investment Acquires TriVista on Speer Multifamily Property in Denver for $144.5M

by Amy Works July 22, 2021

DENVER — Manulife Investment Management, on behalf of a third-party managed account, has purchased TriVista on Speer, a multifamily property located at 1350 Speer Blvd. in Denver’s Golden Triangle neighborhood. An undisclosed seller sold the community for $144.5 million. Completed in 2019, the seven-story TriVista on Speer features 322 apartments with an average unit size of 985 square feet. All units include designer kitchens with granite and quartz countertops, in-home washers/dryers, high ceilings and oversized windows with mountain and city views. Community amenities include a rooftop pool and spa; two courtyards with firepits and bocce ball courts; a chef’s kitchen; a two-story fitness center with a yoga/spin studio; and a pet spa/grooming station. Brady O’Donnell and Jill Haug of CBRE arranged an acquisition loan through MetLife for the buyer.

July 22, 2021

Acquisitions Colorado Restaurant Retail Western

Cushman & Wakefield Negotiates $9.8M Sale of Three-Building Retail Portfolio in Westminster, Colorado

by Amy Works July 22, 2021

WESTMINSTER, COLO. — Cushman & Wakefield has arranged the sale of a retail portfolio comprising three inline shop buildings located within Westminster Crossings shopping center in Westminster. Colorado-based Coco’s Place acquired the asset from Centre Point Properties for $9.8 million. Totaling 28,705 square feet of gross leasable space, the multi-tenant property was 100 percent leased to a mix of regional and national tenants. Jon Hendrickson, Aaron Johnson and Mitch Veremeychik of Cushman & Wakefield’s Capital Markets team in Denver represented the seller in the deal.

July 22, 2021

Colorado Development Multifamily Western

PMG, Greybrook Realty Acquire Development Site in Denver for $35M, Plan Mixed-Use Project

by Amy Works July 19, 2021

DENVER — PMG and Greybrook Partners have purchased a 2.3-acre development site at 123 Speer Blvd. in Denver. Scripps Media sold the land for $35 million. The joint venture plans to develop Society Denver, a mixed-use project at the site. The 12-story Society Denver will be the first Society Living multifamily property in Colorado. Society Denver will feature 600 apartments developed in two phases, amenities and 14,000 square feet of commercial space. Society Living developments offer traditional units with efficient layouts, rent-by-bedroom/co-living options and oversized amenities, including co-working spaces; modern gyms and fitness studios; communal kitchens; craft food and beverage operations; smart package lockers; app-based keys; and integrated retail space. PMG is also working with the Capitol Hill United Neighborhoods to ensure Society Denver suits the surrounding neighborhood and community needs. Jamie Roupp of Jones Lang LaSalle represented the seller in the land transaction.

July 19, 2021

Acquisitions Colorado Multifamily Western

RW Flats, Urban Villages Sell Vita Flats Multifamily Property in Denver to Cohen Rojas for $19.2M

by Amy Works July 19, 2021

DENVER — RW Flats and Urban Villages, which also serves as property manager, have completed the disposition of Vita Flats, a Class B apartment property located at 101 N. Grant St. in Denver. Cohen Rojas acquired the community for $19.2 million. Built in 1961 and renovated in 2009, Vita Flats features 18 studio units, 47 one-bedroom units and nine two-bedroom units. The 11-story, 50,905-square-foot building features an Amazon package hub and a commercial-grade kitchen for resident use on the ground-floor. The new owner plans to renovate the units, as well as potentially add new units to the ground floor of the property. Patrick Henry, Boston Weir, Foster Gillis and Tommy Vento of Henry Group acted as transaction brokers in the sale.

July 19, 2021

Polaris-Wadsworth-Station-Apts-Broomfield-CO

Colorado Development Loans Multifamily Western

JLL Arranges $50M in Construction Financing for Polaris Wadsworth Station Apartments Near Denver

by Amy Works July 15, 2021

BROOMFIELD, COLO. — JLL Capital Markets has arranged a $50 million construction loan for the development of Polaris Wadsworth Station Apartments, a multifamily property in Broomfield. The borrower and developer is Mountain View Capital. Kristian Lichtenfels of JLL Capital Markets secured the five-year, floating-rate loan with a national bank. Slated for completion in January 2023, Polaris Wadsworth Station will feature 276 one-, two- and three-bedroom units averaging 869 square feet. Apartments will feature in-unit washers/dryers, walk-in closets, smart unit packages and balconies/patios. Community amenities will include courtyards, a fitness facility and property-wide Wi-Fi.

July 15, 2021

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