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Multifamily Development in Commerce City Receives Financing

Leave a Comment / Construction, Development, Multifamily /

Denver-based Southwestern Property Corp. is to begin construction of Aspen Hills Apartments, a 180-unit, $40.5 million multifamily community, to be located in the rapidly growing Reunion/North Range area of Commerce City.  A $34.4 million construction loan under the HUD 221(d)(4) program was originated by Kelley Klobetanz, managing director at Greystone, a leading national commercial real estate finance firm provided

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3 Colorado Suburbs Among Top 20 for Most Newly Built Apartments

Leave a Comment / Construction, Multifamily, Reports /

The pandemic brought a newfound appreciation for suburban America, especially among renters working from home. With more apartment-dwellers embracing life outside of the crowded big cities, RENT Café wanted to see which suburbs are well equipped to receive new residents. According to the study, suburban Colorado delivered close to 21,700 new rentals since 2016. Three of its cities found a spot

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Becknell Industrial to Develop Industrial Distribution Facility in Commerce City

Leave a Comment / Brokerage, Development, Industrial, Land Sales, Retail /

According to Cushman & Wakefield, Becknell Industrial has purchased two land sites totaling 170 acres, along with a subsequent lease for a brand new 1-million-square-foot build-to-suit distribution location for a yet to be named national home improvement retailer, in Commerce City. Becknell purchased the land for a combined $22.4 million, according to Adams County property records,

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Dunton Commercial Buys Pueblo Retail Center

Leave a Comment / Brokerage, Retail /

Greenwood Village-based Dunton Commercial, a professional, commercial real estate company offering property management, accounting, investment, and advisory services, has purchased a 90,000-square-foot retail center in Pueblo, for $5,980,000. The acquisition also included four outparcel pad sites. The seller, according to county records, was Belmont Squared LLC, which is registered to Stephen Elken. The sale closed on December

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Denver Hotel Brand to be Acquired by Boston Hotel Company for $90M

Leave a Comment / Brokerage, Hospitality /

Denver-based RLH Corporation (NYSE: RLH), parent company of Red Lion hotels, is to be acquired by Boston-based Sonesta International Hotels Corporation (“Sonesta”), in an all-cash transaction valued at approximately $90 million. “We are excited about unlocking shareholder value through this all-cash transaction with Sonesta,” said R. Carter Pate, Chairman of RLH. “After conducting a thorough review of

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New Preschool Coming to Sterling Ranch in Douglas County

Leave a Comment / Construction, Development, Education /

Construction is set to begin on a Primrose private pre-school at Sterling Ranch, a 21st century master-planned community in Douglas County. The school is scheduled to open in Sterling Ranch in late 2021. The architect is Galloway and the general contractor is AD Miller Construction Services. “We’re very excited to welcome Primrose to Sterling Ranch and provide the

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FIRST LOOK: RLB Releases Q4 Construction Cost Report

Leave a Comment / Construction, Reports /

Rider Levett Bucknall (RLB) has released its Q4 Cost Report (QCR) for North America, including data for Denver. Current to October 1, 2020 and featuring construction cost information for 14 U.S. and Canadian markets, the QCR provides a statistical view of the state of the construction industry, detailing indicative construction costs for eight building sectors.

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Invesco Real Estate Acquires Pfizer Life Sciences Campus in Boulder

Leave a Comment / Brokerage, Health, Healthcare, Office /

Invesco Real Estate, a global real estate investment manager, has purchased 3200 Walnut – a four-building interconnected campus featuring 151,384 square feet of prime lab and office space in Boulder. The campus, occupied by Pfizer, includes four buildings located at 1825, 1865 and 1885 33rd Street and 3200 Walnut Street. Newmark Vice Chairman John Jugl represented the seller, Tritower Financial

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Newly-Built Apartments in Longmont Trade for Record Price

Leave a Comment / Brokerage, Construction, Development, Multifamily /

According to Brinkman Real Estate, Union Pointe, an eight-building apartment community in Longmont, has traded to Minneapolis-based Centerspace, a publicly traded real estate company focused on multifamily. The property was sold for $76.9 million ($300,390/unit), marking a record-high multifamily transaction for the Longmont market. Brinkman developed the property in partnership with Jensen LaPlante Development and Keystone Real Estate, The 256-unit

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