COLORADO SPRINGS, COLO. — Hamilton Zanze has purchased the 364-unit Bella Springs apartments in Colorado Springs for $71 million. The community is located at 1050 Milano Point in the northern part of the city. The garden-style asset was built in 2001. It offers a mix of one-, two- and three-bedroom floor plans with an average apartment size of 855 square feet. On-site amenities include covered parking, two swimming pools, a fitness center and clubhouse/coffee lounge. CBRE’s Dan Woodward, David Potarf, Matt Barnett and Jake Young represented the seller, Praedium Group, in this transaction.
PARK CITY, UTAH — Sonnenblick-Eichner Co. has arranged $60 million in financing for the 177-room St. Regis Deer Valley resort in Park City. The resort is located at 2300 Deer Valley Drive E. The St. Regis Deer Valley offers 67 hotel condominium suites divisible into 177 hotel keys and 25 private whole-ownership residences. The ski-in, ski-out resort includes amenities like the 14,000-square-foot Remède Spa, fitness facilities, a Jean-Georges Vongerichten signature restaurant (J&G Grill) and the Deer Crest Club, a private club. A domestic life insurance company funded the loan in a highly structured transaction. Proceeds of this non-recourse financing were used to refinance existing debt with a new long-term, fixed-rate loan. The proceeds will also fund the next phase of the resort’s development, which will include additional condominium and hotel units, a destination restaurant and other amenities. Construction on the next phase is scheduled to begin in late 2018 or early 2019. This is the third financing Sonnenblick-Eichner has arranged for the ownership. This includes a $212.5 million construction loan and a subsequent permanent loan.
FULLERTON, CALIF. — Western Realco has sold a 181,069-square-foot industrial building in Fullerton. Brad Rambo and Associates purchased the Class A property for $32.5 million. The building is located at 4150 W. Palm St. Western Realco developed the property on a speculative basis after purchasing the site from LBA in 2017 and razing a vacant 88,000-square-foot office building. CBRE’s Sean Ward, Ben Seybold and Keith Greer represented Realco, while Casey Mungo of Daum Commercial represented the buyer.
PLEASANTON, CALIF. — Westcore Properties has purchased a 98,000-square-foot cold storage facility in Pleasanton for $12.7 million. The facility is located at 5675 Sunol Blvd. Westcore will invest in upgrades throughout the Pleasanton property, including refurbishing the office space interiors and improving buildings systems, prior to leasing efforts. The firm acquired another East Bay property in Antioch in late 2017. Mike Quint of Jackson & Cooksey and Mark Pleis of Lee & Associates represented the seller, JDS Properties, while Westcore represented itself in this transaction.
DENVER — Red Robin International has renewed its office lease for 65,000 square feet of space at Tuscany Plaza in the Denver submarket of Greenwood Village. The plaza is located at 6312 S. Fiddler’s Green Circle. The casual dining restaurant chain has been headquartered at Tuscany Plaza since 2000. NKF’s Jim McGrath and Tom Pappas represented Red Robin in the lease renewal.
FEDERAL HEIGHTS, COLO. — A joint venture between Security Properties and Oaktree Capital Management has purchased The Lodge on 84th, a 300-unit apartment complex in Federal Heights, for $46.5 million. The community is located at 1327 W. 84th Ave. The Lodge is situated within the northern suburbs of Denver, between the Westminster and Thornton submarkets. The Class B, garden-style community was built in 1973. The property’s units are spread out across 25 residential buildings and 11 acres. Security Properties-affiliate Security Properties Residential will operate the community.
AURORA, COLO. — Inland Real Estate Acquisitions has purchased the 408-unit Après Apartments in Aurora for an undisclosed sum. The community is located at 1503 S. Galena Way. Après Apartments contains 17 three-story buildings with 196 one-bedroom and 212 two-bedroom units. Community amenities include a recently renovated clubhouse, fitness center, resident lounge, two swimming pools and a pet park. Units feature walk-in closets, washer and dryer, fireplace and a private balcony or patio.
SEATTLE — Harborview Capital Partners has closed three Freddie Mac loans for a total of $12.7 million. The loans were used to refinance three multifamily assets in Seattle. Harborview has now closed eight loans for this undisclosed Seattle client. The commercial real estate finance, equity and advisory firm closed two additional loans for multifamily assets in Tulsa, Okla., and West Haven, Conn. Jeffrey Fuchs originated all the transactions.
REDMOND, WASH. — WoodSpring Hotels has opened the 120-room WoodSpring Suites Seattle Redmond. West 77 Partners LLC developed the hotel, which WoodSpring Hotels Property Management will operate. Each room contains an in-room kitchen equipped with a full-size refrigerator, two-burner stovetop and microwave. The hotel is pet-friendly and offers free wireless Internet, vending machines and guest laundry. The hotel is located at 7045 180th Ave. NE in Redmond. It is situated near Microsoft’s office campus.
FONTANA, CALIF. — Faris Lee Investments has arranged the $3.2 million sale of a newly developed, 2,500-square-foot property triple-net-leased to Starbucks Coffee in Fontana. Christopher DePierro and Jeff Conover of Faris Lee arranged the transaction on behalf of the seller, Puente Hills Power Center LLC. Matt Brooks of Faris Lee represented the buyer, Fata Organization LLC. The single-tenant property is an outparcel of Palm Court Center, a 630,000-square-foot power center anchored by Super Target, Ross Dress for Less, T.J. Maxx and 24 Hour Fitness.