New Affordable Housing Project in Aurora Secures Construction Financing
Bellwether Enterprise Real Estate Capital LLC (BWE), a national commercial and multifamily mortgage banking company, recently closed on $43,135,000 in construction financing for 15 Sable Apartments, an affordable housing community in Aurora. Anthea Martin, senior vice president in BWE’s Denver office, originated the loan through a private placement on behalf …
Extended-Stay Hotel in Colorado Springs Sells to Singapore-Based Company
Chartwell Hospitality has sold its Home2 Suites by Hilton property located in Colorado Springs to ARA US Hospitality Trust, a Singapore-based select service hospitality trust. ARA acquired the extended-stay hotel with 119 rooms for $29.0 million. “Home2 Suites Colorado Springs, Colorado is a great property. We commenced operations at the …
MG Properties Acquires Castle Rock Apartments to Further Expansion
MG Properties, a private San Diego-based real estate investor, owner, and operator, has acquired the Ridge at Castle Rock Apartments. Formerly known as Springs at Castle Rock, MG Properties purchased the property from Continental Properties for $67,150,000. Offering one, two, and three-bedroom apartments and lofts, Ridge at Castle Rock is a …
Cherry Creek and LoDo Emerging as Top Performing Micro Office Markets
According to JLL’s Q1 2023 Office Insight report, geography more so than ever is determining which buildings stand to be the winners and losers of the post-pandemic office market. Tenants are paying premiums for office space in select micro markets like Cherry Creek and LoDo. Direct vacancy in Cherry Creek …
New Wine Bar Velvet Cellar Coming to LoDo
A new wine bar concept Velvet Cellar has signed a lease for a 4,077-square-foot retail space for $570,780, at 1500 Wynkoop in Denver, the former home of restaurant Chow Morso Osteria, which closed in November 2020. Jamie Mitchell, Darrin Revious and Paul Nora of Pinnacle Real Estate Advisors represented the landlord, Shadow …
Office Evolution Signs Full-Floor Lease at The Amp Building
Colorado-based flexible workspace provider Office Evolution is relocating in downtown Denver to a full floor at 1580 N. Logan St., in a lease arranged by CBRE. Office Evolution will move from its current location at 1624 Market St. in lower downtown Denver, where it has operated for the last 16 years. …
Altus Properties Acquires 2nd & Josephine Portfolio in Cherry Creek
Altus Properties, a real estate investment firm with over 4.3 million square feet of office, industrial, retail and multifamily properties, has acquired the 2nd & Josephine portfolio, a four-building, 105,253-square-foot mixed-use property in Cherry Creek North, from Unico Properties. Altus paid $54 million for the portfolio, according to Essex Financial Group. Essex worked on …
Aerospace Company Signs Lease for New Corporate HQ in Littleton
Canopy Aerospace a company that produces Thermal Protection Systems for spacecraft, has signed a 19,000-square-foot lease at 18,681 at 8101 Midway Drive, in Littleton. The Midway building will serve as Canopy’s new corporate headquarters. “This building, with the modern office buildout, excellent loading, and warehouse space checked all the boxes …
Two Newly-Renovated Multifamily Properties in Colorado Springs Sell for $74.1M
Two newly-renovated multifamily communities, Park at Penrose and Park at Palmer, in Colorado Springs, have sold for a combined $74.1 million. Park at Penrose with 374 units, and Park at Palmer with 112 units, are located at 3802 and 3903 Half Turn Road, situated along N. Academy Boulevard near Austin …
Atwell Suites Denver Airport Sells for $18.8M
JC Hospitality LLC, a California investment group, has acquired the Atwell Suites located between 64th and 65th Avenue, just west of Tower Road in Denver. The all-suites contemporary concept hotel was constructed in 2022 and has 96 units. The property was sold on March 14 for $18.8 million, which equates to $195,833 per unit. …