Greenwood Corporate Plaza Sells for $38.4M
Private equity real estate investment firm Viking Partners Management, Inc. has acquired Greenwood Corporate Plaza, a 412,869-square-foot suburban office campus in the Denver Tech Center for $38.4 million. The acquisition is the first for Viking Partners out of its new Mountain West regional office in Denver under the direction of …
Industrial Portfolio in Colorado Financed for $16.8M
JLL Capital Markets recently arranged $16.8 million in financing, on behalf of Flywheel Capital, for the purchase of a fully leased, three-property light industrial portfolio totaling 292,076 square feet in Commerce City, Loveland and Pueblo. The portfolio comprises 6300 Clermont, a two-building single-tenant asset in Commerce City; Campion Industrial Park, a three-building …
Multifamily and Light Industrial Emerge as Hottest Asset Classes
Multifamily and light industrial have emerged as the hottest asset classes for commercial real estate funding post-pandemic, according to Dan Page, president of Boulder Equity Partners LLC, a nationwide lender for all commercial real estate loans. “We see growth and security (stability) in these sectors and are willing to be …
As Retail Rebounds Investor Confidence Returns
Retail, especially non-essentials goods and services, was hit hard during the pandemic, but with an increase in vaccinations and easing restrictions, retail is experiencing increased investor favor and returning to pre-pandemic levels. This is evidenced by a bounce-back in retail real estate transaction volumes. Additionally, the U.S. retail debt market remains …
Tributary Real Estate Acquires Mixed-Use Office Building in Globeville for $11.2M
Tributary Real Estate recently acquired a three-story mixed-use office building at 400 W. 48th Ave. in Denver’s Globeville neighborhood. The purchase was made in partnership with JLL Denver Managing Director Ken Gooden for $11.2 million. The 4.75-acre property includes 5,000 square feet of retail space and 93,000 square feet of office …
Polis Approves Community Revitalization Grant Program
This week, Governor Polis signed into law a stimulus bill from Colorado’s recovery package, which will invest in struggling local economies and accelerate the Colorado Comeback. SB21-252, sponsored by Senate Majority Leader Steve Fenberg and Minority Leader Chris Holbert, creates the Community Revitalization Grant Program to issue grants intended to support …
Revesco Properties Launches Mutual Fund Trust
Revesco (USA) Properties, LP, a focused, nimble and responsive boutique real estate investment and management firm with offices in Denver and Vancouver, has successfully launched Revesco Properties Trust, a U.S. dollar denominated open ended mutual fund trust. The long-term goal of the REIT is to acquire $1 billion of core-plus, value-add, …
58-Unit Senior Housing Property in Lakewood Sells for $8.3M
The Homestead at Lakewood, a 58-Unit seniors housing property located in Lakewood, has sold for $8.3 million. Located at 2121 Wadsworth Blvd, the Homestead at Lakewood was constructed in 1999 under the Low Income Housing Tax Credit (LIHTC) program. The property consists of studios, one-bedroom units, and two-bedroom units and …
Lee and Associates Report Examines Effects of Changing Tax Policy on CRE
Lee and Associates Research has just released a new report titled Effects of Changing Tax policy on Commercial Real Estate that examines the Biden administration’s proposal to nearly double the capital gains tax for people who make more than $1 million a year. The plan will tax capital gains at …
Historic 6th Ave Retail Property Sells for $4.7M
Unique Properties Inc., Colorado’s most experienced, privately held, full-service commercial real estate brokerage firm, brokered the sale of Firehouse Square, a multi-tenant retail/office property located at 1038 E 6th Ave in Denver. The property sold for $4,750,000 or $486 per Square Foot. The seller, RAK Investments Inc, was represented by Michael …