Hotel in Colorado Springs to be Converted into Affordable Housing
Texas investors SHIR Capital has purchased The Hotel Eleganté in Colorado Springs for $25 million. According to Capital Property Group, the brokerage firm that closed the sale, the 496-room hotel is among the largest in Colorado. SHIR will convert the hotel into affordable housing for entry-level workers. Capital Property Group Investment Advisor Bryan Rodriguez …
Denver Community Church Seeks New Location
As part of its strategic plan to secure a new location, Denver Community Church(DCC) has sold its 18,155-square-foot location at 1101 S Washington St., in Denver, to Restoration Church for $3.1 million. Transwestern’s team of Kevin McKinnon and Craig Paton represented the DCC in the disposition and Savills’ Todd Roebken represented Restoration Church. “Denver Community …
Value-Add Apartment Community in Windsor Receives Multi-Offers, Buyer Plans Extensive Renovations
Chestnut Square Apartments, a 116-unit multifamily property located at 601 Chestnut St in the town of Windsor, approximately 15 miles outside of Fort Collins, has sold for an undisclosed price. The property was acquired by 601 Chestnut, LLC from the Jones Family Trust and plans to reposition the property through an …
Pinnacle Real Estate Advisors Congratulates Top Brokers 2021
Pinnacle Real Estate Advisors, LLC, a full-service commercial real estate brokerage firm, has awarded Josh Newell, principal, this year’s Top Producer award. This marks the tenth time in the past fourteen years that Newell has received Pinnacle’s top overall broker award. Newell also earned the Top Multifamily Broker award. “Josh …
Alpine Investments to Begin Construction of Six-Story Multifamily Project in Englewood
Developer Alpine Investments has received $24.9 million in construction financing for the development of a 119-unit, Class A, mid-rise apartment complex in the south Denver community of Englewood. JLL worked on behalf of Alpine Investments, to secure a $24.9 million30-month, floating-rate, non-recourse construction loan through a national bank, led by …
Two Distribution Buildings within 76 Commerce Center Change Hands
As industrial demand in Denver accelerates amid the pandemic-fueled growth of e-commerce and warehouse inventories, Principal Real Estate Investors has purchased two buildings within 76 Commerce Center, a Class A logistics park in Denver’s I-76 corridor, from sellers Mortenson Properties, Inc. and Hyde Development. Buildings 4 and 5 total 618,480 square …
Multifamily Portfolio Near Swedish Medical Center Sells for $15.35M
Berkadia — a joint venture of Berkshire Hathaway and Jefferies Financial Group — has announced the off-market sale of the Swedish Portfolio, a three-property, 79-unit multifamily portfolio in Englewood, for $15.25 million. The sales price reflects a per-unit price of $193,038. Senior Directors John Laratta and Nick Steele, Director Tyler King, and Associate Director Nate …
BMC Investments Sells Moxy Cherry Creek for $51.3M
BMC Investments, a leading Denver-based fully integrated and experienced developer, has sold its 170-room Moxy Denver Cherry Creek to RLJ Lodging Trust for $51.3 million, or approximately $301,000 per key. “We are pleased to acquire the recently built Moxy Cherry Creek Hotel, located within the heart of the exclusive Cherry …
20-Building Portfolio in Fort Collins Trades for $53.5M
Prospect Innovation Campus, a 20-building portfolio of R&D, office and industrial properties in Fort Collins, has sold for $53.5 million to Ogilvie Properties. The Campus is located on 30 acres at the southeast corner of E Prospect Rd and S Timberline Rd., two miles from Colorado State University, three miles …
Cold Storage Developer Expands in Denver with $19M Acquisition
A single-story cold storage and food distribution facility located at 4475 East 50th Ave in Denver, has sold for $19,093,400 to Karis Cold, a private equity-backed, specialized cold storage developer and investor. Since the onset of COVID, the demand for food-related industrial properties has peaked and continues to be highly …
