Pinnacle Announces Sale Several Multifamily Units: Lakewood, Westminster & Denver
Lakewood, CO – Josh Newell, Senior Advisor at Pinnacle Real Estate Advisors, LLC, announces the sale of Andi Lynn Flats located at 213-233 S. Ingalls Street in Lakewood, Colorado. The 16-unit property sold on May 13th with a contract price of $$2,125,000; $132,813 per unit and $160.26 per square... Read more
CO Construction-Defects Alternative Dies
View here Following up on a story reported on Monday, May 9th, the alternative study to investigate Colorado’s construction-defect reform did not pass in the legislature. It was argued that millennials are not interested in purchasing lower-priced condominiums by chairwoman Rep. Su Ryden, D-Aurora. Two affordable housing bills were passed... Read more
Downtown Denver Partnership Releases 2016 State of Downtown Denver Report
Denver, CO – The Downtown Denver Partnership issued today the 2016 State of Downtown Denver report. The annual report, funded in part by the Downtown Denver Business Improvement District, is one of the most comprehensive statistical looks at the stories and statistics behind a thriving center city, detailing increasing investment,... Read more
Alternative Proposed to CO Construction-Defects Reform Bill
View here In response to the failed construction-defects reform bills, which fell apart last Thursday in the Colorado Legislature, Senate Bill 213 offers an alternative with a study group to help advance negotiations. The group would propose recommendations by March 2017 to the construction-defects litigation in an effort to increase... Read more
Denver Building Boom Reaches $4.2 Billion
Denver, CO – CBRE Research releases their latest Market Flash for the Denver construction market, which is reporting nearly $4.2 billion of commercial building in progress (excluding single-family residential, healthcare and infrastructure projects). Multifamily and hospitality projects are recorded as representing 74% of the total value. Graphic courtesy of CBRE Research Read more
Capitol Hill Multi-Family Sells Record Per-Unit Price
View here ARA, a Newmark Company brokered a landmark deal in Colorado with the 10-unit apartment complex at 901 Washington in Capitol Hill that sold for a record per-unit price of $525,000. Photo credit Mediamax, Inc.  Read more
HFF Facilitates $20.74M Financing 2 Multifamily Properties Colorado Springs
Colorado Springs, CO –  Holliday Fenoglio Fowler, L.P. (HFF) announced recently that it has arranged financing totaling $20.747 million for two adjacent Colorado Springs multi-housing communities: Summer Grove and Tanglewood. Working on behalf of the borrower, Vukota Capital Management (VCM), HFF placed two seven-year, fixed-rate Fannie Mae loans with... Read more
ARA Newmark Sells 15-Acre Site for New South Denver Community
Castle Rock, CO — The multi-housing land team of ARA, A Newmark Company (ARA Newmark) announces the sale of a 15.22-acre site for a new community in the south Denver suburb of Castle Rock, Colorado. Construction on Ledges at the Promenade will begin in April 2016 and is expected... Read more
Metro Denver Apartment Vacancies & Rents Increased YOY
View here The Apartment Association of Metro Denver released their latest report showing vacancies in the metro area increased to 6.1 % in the first quarter of 2016, up from 4.9 % in the first quarter of 2015. Rents have also increased yet again to an average of $1,315/month,... Read more
HFF Closes Sale and Secures Acquisition for Belle Creek Apartments
DENVER, CO –  Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has closed the sale of and secured acquisition financing for Belle Creek Apartments, a 156-unit residential community with 6,256 square feet of ground-floor retail in Henderson, Colorado. HFF marketed the property on behalf of a real estate investment... Read more