DENVER — Bellwether Enterprise Real Estate Capital has closed four transactions totaling $294.2 million in Fannie Mae loans for manufactured housing communities across the United States. MJ Vukovich of Bellwether’s Denver office, along with Ghazy Grijalva of the firm’s Chicago office, arranged the deals. In total the financing covers 5,554 pad sites across the five transactions. The deals include: A $28 million loan for two manufactured housing assets located in Montana on behalf of a Utah-based operator. A $23.2 million loan for a community located in Wyoming on behalf of an operator based in California and Colorado A $193.3 million loan for a portfolio of 13 properties located in the Rocky Mountain and Southern regions on behalf of a Colorado-based operator. A $46 million loan for five communities located in various states on behalf of a Utah-based operator. A $3.7 million Fannie Mae loan for a property located in North Carolina on behalf of a North Carolina-based operator. Bellwether Enterprise Real Estate Capital is the commercial and multifamily mortgage banking subsidiary of Enterprise Community Investment.
AURORA, COLO. — Kärcher, a provider of cleaning technology, is consolidating its manufacturing campuses in Englewood, Colo., and Camas, Wash., into a newly completed, 380,000-square-foot North American headquarters facility located at 6398 N. Kärcher Way in Aurora. Situated on a 23-acre site, the build-to-suit campus features 275,000 square feet of warehouse, R&D and manufacturing space along with 100,000 square feet of office space. The property is located within the Porteos development near Denver International Airport. Ware Malcomb provided architecture, interior design, civil engineering and land surveying services for the project. The building features an open three-story staircase, Kärcher’s corporate colors of bright yellow and gray, and storefront and curtain walls for the office area. Brinkmann Constructors served as general contractor and SunCap Property Group is the project’s developer. Winnenden, Germany is the global headquarters of Karcher.
AURORA, COLO. — Evergreen Devco has purchased Turnberry at Heather Ridge, an apartment community located at 2038 S. Vaughn Way in Aurora. Kevlyn Investments sold the asset for $46 million in an off-market transaction. Situated on 12 acres, Turnberry at Heather Ridge features 268 apartments, averaging 823 square feet, in a mix of 183 one-bedroom/one-bath units and 85 two-bedroom/two-bath units. The units feature fully appointed kitchens, fireplaces, large balconies or patios, ceiling fans and walk-in closets. The community features two swimming pools, a fitness center, business center, dog park and clubhouse. Evergreen plans to implement a three-year capital improvements program at the property that includes renovating the exterior and interior of the 13 residential buildings and leasing office, as well as updating the community amenities. Echelon Property Group will be the on-site manager for the community. John Blackshire and Tom Wanberg of Transwestern represented the seller in the deal.
ENGLEWOOD, COLO. — Campus Apartments has completed the sale of Nicole Apartments, a multifamily property in Englewood. 3444 Marion LLC acquired the asset for $2.7 million. Built in 1970, Nicole Apartments consists of a three-story, walk-up building featuring 16 one-bedroom/one-bath units and four two-bedroom/two-bath units. On-site amenities include laundry facilities and off-street parking. Matthew Beverly, Boomer Beatty and Peter Standley of Marcus & Millichap’s Denver office represented the seller and buyer in the deal.
DENVER — Southern California-based ReyLenn Properties has opened Solana Stapleton, an apartment community in Denver’s Stapleton submarket. The asset is the first market-rate rental property developed by a third party in the master-planned Stapleton community. The 280-unit property features a mix of one-, two- and three-bedroom units, with rental rates starting at $1,549 per month. On-site amenities include a saltwater pool; spa; state-of-the-art fitness center with yoga and spin studio; indoor basketball court; high-definition golf and sports simulator; outdoor beer garden with gaming and a pizza oven; food truck court; and community gardens. Additionally, the property features standalone co-working space that is accessible for residents at discounted rates or the general public at full rates.
DENVER — Confluent Development and Kelmore Development, the Denver-based co-owners and co-developers of the project, have topped out Exchange at Boulevard One. The 200,000-square-foot, mixed-use project is located in Boulevard One, a 70-acre parcel in Denver’s Lowry neighborhood. The developers broke ground in April 2019 and completion of the initial phase, totaling 135,000 square feet, is slated for spring 2021. Located at Lowry Boulevard and Quebec Street, the infill development will feature 500 parking spaces, including a 231-stall underground garage. The project focuses on multimodal accessibility with a mobility hub for bicycle and scooter parking, pedestrian connectivity, electric car charging stations and nearby transit lines with connections to light rail. Brinkman Construction is serving as general contractor for the project, which Open Studio Architecture designed. The Denver Urban Renewal Authority and Lowry Redevelopment Authority are supporting the development.
DENVER — NAI Shames Makovsky has arranged the sale of an industrial asset located at 11100 E. 51st Ave. in Denver. Colorado Farms sold the property to GS 51st LLC for $7.3 million. The building consists of 60,758 square feet of industrial space. Jake Malman and Sandy Feld of NAI Shames Makovsky represented the seller in the deal.
FOUNTAIN, COLO. — NavPoint Real Estate Group has negotiated the sale of a single-tenant retail property located at 7985 Fountain Mesa Road in Fountain. RJ at MMR LLC sold the building to Foothills Property Group for $2.4 million. Built in 2017, the 7,150-square-foot property is part of the Markets at Mesa Ridge shopping center. O’Reilly Auto Parts occupies the building on a net-lease basis. Matt Call and Ian Elfner of NavPoint Real Estate Group represented the seller, while Chris Student of Brockman Group represented the buyer in the transaction.
GLENDALE, COLO. — NXT Capital has provided a $45.6 million loan to finance the acquisition of Cherry Creek Plaza I & II, a two-building, Class B office park in Glendale. C.J. Kelly of CBRE Atlanta and Jeff Halsey of CBRE Denver placed the loan with NXT Capital for the undisclosed borrower. Located five miles from downtown Denver, the 335,000-square-foot asset features individual lobbies, two fitness centers, a deli, boardroom, classroom and three-story parking structure.
DENVER — AQYRE Real Estate Advisors has arranged the sale of an apartment building located at 2441 S. York St. in Denver. An undisclosed buyer acquired the property for $3.1 million, or $350.10 per square foot. Situated between the University of Denver campus and University Avenue, the 8,926-square-foot property features on-site parking and 17 apartments, with 13 units fully renovated. Joe Hornstein, Scott Fetter and David Barocas of AQYRE represented the undisclosed seller, while Matt Lewallen and Kevin Calame, also of AQYRE, represented the buyer in the deal.