Multifamily

Denver-based Apartment Investment and Management Company (“Aimco”) — one of the country’s largest owners and operators of apartments, with 124 communities in 17 states and the District of Columbia — today issued the following statement regarding the on-going COVID-19 pandemic: “Aimco’s first priority is the health and safety of our residents and teammates,” …

A joint venture between The John Buck Company, Kinship Capital and Element Properties, has secured $29.4 million in construction financing for S’PARK Railyards (Railyards), a 69,263-square-foot Class A office building in Boulder. JLL worked on behalf of a joint venture to secure the five-year, floating-rate construction loan through Wintrust Financial …

For all that’s changed since COVID-19 began dominating the headlines weeks ago, one thing hasn’t. Monthly rent payments. That is, until now. For Grant Barnhill, founder and CEO of Shift Workspaces, a Colorado coworking firm built on the values of mutuality, care, and social responsibility, the decision to waive April fees for his …

Rosalie at Belmar, a 40-unit apartment community in Lakewood, has sold for $7 million. According to Marcus & Millichap’s Denver office, steady rent growth in Denver’s submarkets has piqued the interest of investors. Boomer Beatty and Peter Standley, both senior associates in Marcus & Millichap’s Denver office, had the exclusive …

PLC Apartments of Newport Beach, Calif., has made their first Colorado apartment acquisition. PLC purchased The Centre Apartments, a 168-unit apartment community in central Colorado Springs, for $21,900,000 ($130,357/unit). The seller, Skyline Real Estate Investments, a local partnership, was represented in the sale by Bill Morkes and Craig Stack of Colliers International. …

RENTCafé has released its  February Rent Report for the Denver Metro area. The online rental listing service analyzed apartment prices in 16 cities to see how they changed over the year. Nationwide, the housing market was strong in February, but, amid the COVID-19 pandemic, some changes are likely to appear. “We haven’t seen the impact of …

Minneapolis-based The Opus Group has purchased a 1.65-acre land parcel at 19th & Clay in Denver. Newmark Knight Frank (NKF) Multifamily arranged joint venture equity for the development of a future 277-unit luxury apartment development. The vacant lot and parking garage are located adjacent to the Broncos Stadium Redevelopment in the thriving …

TRR Apartments, a 16-unit apartment community located at 824-828 12th St. in Greeley, has sold for $1,750,000. According to Skyler G. Cooper, regional manager of Marcus & Millichap in Denver, the sale of the asset has set a new record in the region for price per square foot. Matthew Beverly, …

New York-based Urban American Management has purchased The Kentom Apartments, a four-story, 32-unit, Victorian-era community located at 1540 Grant Street in Denver. The apartments sold for $8,450,000, marking Urban American Management’s second acquisition in metro Denver. Executive Managing Director Justin Hunt, Senior Managing Director Andy Hellman, Associate Director Ryan Cohn and Transaction …

While the coronavirus will weigh on the U.S. economy in the first quarter, growth should be sustained. According to the Marcus & Millichap special report on the virus outbreak, expectations of weaker exports, reduced tourism and supply chain-related shortfalls will moderate the pace of economic growth. However, low unemployment and comparatively strong consumption levels should …