Development

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 …

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 …

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 …

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 …

Essex Financial Group (“Essex”) has formed an exclusive correspondent relationship with PGIM Real Estate to source loans intended for sale to Fannie Mae and Freddie Mac. With this relationship, Essex will work with PGIM Real Estate’s origination team in the Rocky Mountain region and have access to their DUS and Optigo lending platforms. …

Restoration Hardware (RH), a curator of design, taste and style in the luxury lifestyle market, announced it is making an initial equity investment of approximately $105 million in connection with real estate development initiatives in Aspen. The investment includes properties that will be developed into retail locations, hospitality concepts, residential …

The Townhouses at Cherry Creek North, a luxury multifamily community located at 101 Harrison Street in Denver, has sold for $6.9 million, or $575,000 per unit – representing the most expensive per-unit, arms-length multifamily transaction recorded in Denver. Erik Toll of Pinnacle Real Estate Advisors LLC.represented the seller and buyer …

According to CBRE, the Curtis Street Lofts, a 12-unit multifamily property located at 2063 Curtis Street in Denver, has sold to a private local investor for $5.2 million. The three-story building features two-bedroom floor plans with designated office space and balconies, controlled access, a one-to-one parking ratio, a rooftop deck with city and mountain …

Construction has begun on the Sky Ridge Station Apartments, a new 240-unit apartment complex situated on the last parcel of land at the Sky Ridge Station transit-oriented development (TOD) site. The seven-story apartment complex, which includes two levels of parking, is adjacent to several large employers in the area including …

According to a proposal submitted to the City of Denver, Godden Sudik Architects and developer Pauls Corporation are planning to build a mixed-use project on a 60 acre vacant parcel of land that’s located north of E. 40th Ave, and east of Pena Blvd. The project could include as many as 1,175 for-rent …