Denver-Area Ultra-Luxury Apartments Sell for $127M
DENVER – Holliday Fenoglio Fowler, L.P. (HFF) has closed the $127.4 million sale of Kent Place Residences, a 300-unit, ultra-luxury, Class A apartment community located in the Cherry Hills Village area of Englewood, Colorado. The sale is the first large institutional transaction to occur in metro Denver in the third quarter of... Read more
New Luxury Apartment Complex Planned Near RTD’s Colorado Station
View here Los Angeles-based real estate investment firm CityView and Houston-based Dinerstein Cos. will develop a 350-unit apartment complex at the southeast corner of Colorado Boulevard and Evans Avenue, close to RTD’s Colorado Station. Groundbreaking on the project is expected to occur next month and completion is anticipated for the... Read more
Metro Denver’s Rental Rates Continue to Rise
View here According to a report released today by the Apartment Association of Metro Denver, average monthly rents in metro Denver rose to $1,419 in the second quarter of 2017. That’s an increase of 3.5 percent over the second quarter of 2016, when the average rent was $1,370 per month.... Read more
Snowmass Base Village Project Begins Next Phase
Snowmass Village, CO — Construction has begun on the next phase of Snowmass Base Village, a collaboration between three major players in the mountain resort business — East West Partners (EWP), Aspen Skiing Company (ASC) and KSL Capital Partners. This premier mountain resort development, located at the base of Snowmass Ski... Read more
DBJ’s CRE Forum: Trends and Insights from Three Industry Experts.
View here The Denver Business Journal held a Commercial Real Estate forum on June 19. Panelists included Pete Schippits, senior managing director and market leader for CBRE in Colorado, Allison Recker, senior vice president of commercial real estate finance at UMB Bank in Denver, and Jay Philp, a partner in the real... Read more
Affordable Apartment Community Trades in Heavily Amenitized Boulder
Boulder, CO — ARA, A Newmark Company (ARA Newmark) announces the $13.6 million sale of Depot Square, a new Class-A+, 71-unit, transit- and employment-centric, LEED Gold-certified community in Boulder, CO adjacent to the new Google campus. The Boulder submarket, the strongest in Colorado and one of the best in the nation, has... Read more
Denver’s Surging Housing Demand Fuels JLL Growth
DENVER – Responding to an increasingly competitive multifamily environment coupled with client demand for comprehensive capital markets capabilities, JLL Denver has tapped Craig Kalman to partner with Travis Hodge as co-leaders for its newly formed Mid-Market Multifamily operations. Denver’s population is booming. On average, some 100 new residents have moved into the... Read more
Denver Named One of 2017’s Hottest Rental Markets
View here Good news for developers — according to the National Multifamily Housing Council, the U.S. will need 4.6 million new apartments by 2030 to meet demand for rental living. In fact, the latest data from Yardi Matrix indicates apartment construction is at a 20-year high and apartment completions are expected to... Read more
Denver’s Energy Benchmarking Ordinance: What it Means for the Denver Real Estate Market
By Jesse Hunt, LEED AP BD+C, WELL AP – Powers Brown Architecture In December of 2016, the City of Denver passed Code of Ordinances Ch. 4, ARTICLE V. – Energy Efficiency in Commercial and Multifamily Buildings. This ordinance follows in the footsteps of 17 other large cities in the United States who... Read more
Denver Cheapest Place to Build in U.S.
View here According to Rider Levett Bucknall’s latest ” Quarterly Construction Cost Report,” Denver is currently the cheapest place to build in the U.S. It costs an average of $145 per square foot to build a retail center in Denver, compared with $495 per square foot in Honolulu and $480 in... Read more