CENTENNIAL, COLO. — Denver-based Quiver Investments and NavPoint Real Estate Group have negotiated the sale of Arapahoe Plaza East II, an office building located in Centennial. An undisclosed buyer acquired the asset for $3.5 million. Located at 7955 E. Arapahoe Court, the property features 29,140 square feet of multi-tenant office space. At the time of sale, the asset was 96 percent occupied. John Witt of Quiver Investments and Matt Kulbe of NavPoint Real Estate Group represented the seller. Lon Welsh of Your Castle Real Estate represented the buyer in the deal.
DENVER — CBRE has negotiated the sale of a three-property multifamily portfolio located in Denver’s Cheesman Park and Congress Park neighborhoods. A local investment group purchased the portfolio from a local private investor for $12.2 million. The asset includes the 27-unit Park Lafayette at 950 Lafayette St., the 12-unit 1120 York at 1120 York St. and the 12-unit 1136 York located at 1136 York St. The buyer plans to renovate the few remaining unrenovated units and update the common areas of the 51-unit, 31,280-square-foot portfolio. Select units in Park Lafayette offer premium finishes, including quartz countertops, new cabinets, stainless steel appliances and plank flooring. The property also has a pool, lounge area with a gas firepit and barbecue grill. Robert Bratley of CBRE’s Denver office represented the seller in the deal.
THORNTON, COLO. — DCP Quebec has completed the disposition of a multi-tenant, net-lease investment building located at 7315-7375 E. 128th Ave. in Thornton. YC Inc. acquired the property for $4.9 million. Built 2018 on 1.7 acres, the property features 8,573 square feet of space. At the time of sale, four tenants fully occupied the asset. Matt Call and Ian Elfner of NavPoint Real Estate Group represented the seller, while Jae Kim of RE/MAX 100 represented the buyer in the transaction.
DURANGO, COLO. — Lodging Partners, a member of Hotel Brokers International, teamed up with HREC Investment Advisors to broker the sale of Residence Inn by Marriott Durango, a 66-room hotel located at 21691 US Highway 160 West in Durango. A regional owner/operator of premium-branded, select-service hotels acquired the property for an undisclosed price. The pet-friendly hotel features studio, one-bedroom suite and two-bedroom suite guest rooms that feature fully equipped kitchens with refrigerators, microwaves and coffee makers. Hotel amenities include a fitness center, an indoor pool and whirlpool, free breakfast, high-speed wireless internet, laundry facilities and complimentary onsite parking. Ford Barton of Lodging Partners and Jeffrey Duni of HREC Investment Advisors led the marketing and negotiations on behalf of the seller.
ASPEN, COLO. — Marcus & Millichap has brokered the sale of Centennial Aspen Apartments, a three-story multifamily property located in Aspen. Birge & Held acquired the community for $50.5 million, or $338,926 per unit. Moshe Safdie, a world-renowned architect, designed the property, which was completed in 1986. The 11-building, 149-unit property is located at the base of Smuggler Mountain within a 15-minute walk from downtown Aspen. Community amenities include storage, laundry facilities, a playground and assigned parking. Greg Price and Jason Hornik of Marcus & Millichap’s Denver office represented the local seller and procured the buyer in the transaction.
DENVER — AMLI Residential, a multifamily developer and owner based in Chicago, has purchased 2.7 acres of land on South Broadway in Denver for a new 300-unit apartment community. The property is situated within Broadway Park, a mixed-use, infill redevelopment totaling 75 acres and entitled for up to 10 million square feet of development. Denver-based D4 Urban is the master developer of Broadway Park and sold the land to AMLI. Chris Cowan and Mackenzie Walker of Newmark Knight Frank (NKF) Multifamily represented D4 Urban in the land sale. The sales price was not disclosed. Community amenities at the project, named AMLI Broadway Park, will include a rooftop deck; two-story fitness and clubhouse area; pool; barbecue and lounge area; dog run; and several courtyards. The property is designed to achieve LEED Gold certification, which is a hallmark of AMLI communities nationwide. The new community is the second vertical development within the Northwest District at Broadway Park. The site is adjacent to Price Development Group’s 345-unit multifamily property currently under construction, as well as a public plaza developed by D4 Urban on behalf of the Broadway Park North Metropolitan District, according to Dan Cohen, development partner at D4 Urban. The property will …
DENVER — JLL has arranged $18.8 million in financing for the development of Bloom at Cherry Creek, a multifamily property located at 4700 E. Kentucky Ave. in Denver. Kristian Lichtenfels and Matt Steffen of JLL worked on behalf of the borrower, Botnick Realty, to secure the five-year, fixed-rate construction loan through a regional bank. Situated on 1.1 acres within Denver’s Cherry Creek district, Bloom at Cherry Creek will feature 111 apartments in a mix of one- and two-bedroom layouts. Units feature white shaker cabinets, quartz countertops, stainless steel appliances, luxury flooring and in-unit washers and dryers. The five-story, podium-style property is slated for completion in mid-2021. Community amenities will include a rooftop deck with firepit, grilling station, community kitchen, game room, fitness center and workstations.
LAKEWOOD, COLO. — Evans Senior Investments (ESI) has arranged the sale of Lakewood Memory Care, a 46-unit memory care facility, for $8.5 million, or $185,000 per unit. Located 10 miles south of downtown Denver in Lakewood, the facility totals 52 beds. The property was built in 2016 and is 100 percent private pay. It was 75 percent occupied at the time of sale. ESI represented the seller in the transaction, an independent investor group that had partnered with a national operator. This was the investor group’s only seniors housing asset. The buyer was a nonprofit owner-operator with a regionally focused seniors housing portfolio in Colorado.
COLORADO SPRINGS, COLO. — Newport Beach, Calif.-based PLC Apartments has acquired The Centre Apartments, located at 1921 E. Van Buren St. in Colorado Springs. Locally based Skyline Real Estate Investments sold the community for $21.9 million. Built in 1952, The Centre Apartments features 168 units in a low-density, park-like setting. Community amenities include a clubhouse and fitness center. The buyer plans to continue ongoing interior unit renovations. Bill Morkes and Craig Stack of Colliers International represented the seller in the deal.
ENGLEWOOD, COLO. — Englewood-based Gordon Development has sold an industrial asset located at 8644 S. Peoria St. in Englewood. Chicago-based Columbia Industrial Acquisition Co. purchased the property for $10 million. Built in 2017, the multi-tenant building features 63,550 square feet of Class A industrial space. At the time of sale, the property was fully occupied by a manufacturing tenant and Ninja Nation, a provider of obstacle course arenas and mobile course experiences. Tyler Carner, Jeremy Ballenger and Jim Bolt of CBRE’s Denver office represented the seller in the transaction.