New-Build 60-Unit Apartment Building Sells for $17.5M

Berkadia Denver and Berkadia Seattle have announced the $17.5 million opportunity zone sale and over $13 million in financing secured for Mile High Place, a 60-unit midrise multifamily property located at 1586 Hooker Street in Denver. Built by Highland Builders, Mile High Place is a new-build development located in Denver’s burgeoning …


RE/MAX Commercial Symposium Explores “New Normal” of Industry Trends

This week, RE/MAX Commercial® concluded its two-day Commercial Symposium for affiliated commercial real estate practitioners. Held at the Denver Marriott South Park Meadows in Lone Tree, this premier event was open to the entire RE/MAX network and provided ideas, information and strategies to RE/MAX commercial practitioners, as they navigate the “new normal” of commercial real estate.    The 14th annual event offered a lineup of industry experts, innovators, and veterans discussing the evolution of the …


Apartment Property Near Denver’s City Park Sells for $88.7M

Park 17, a 190-unit Class A multifamily property located at 1210 East 17th Avenue in Denver, has sold for $88.7 million. Dave Martin, managing director, and Brian Mooney, vice president of NorthMarq’s Denver investment sales team, represented the seller, Kairoi Residential. The buyer is an entity tied to Houston-based Lionstone Investments. …


New Multifamily Project to Break Ground in Central Park Neighborhood

High Street Residential, the multifamily subsidiary of Trammell Crow Company, in partnership with PGIM, has purchased land for the development of Central Park Station Residences. The first phase of the development is a 301-unit, Class A, four-story wood-frame apartment project on three acres of land over two levels of structured parking. This marks the …


Collegiate Peaks Bank Provides $12M Funding for Four Infill Apartment Projects in Denver

Colorado-based Collegiate Peaks Bank has committed $12 million in funding to Revesco Properties and Alpine Investments for the acquisition of four mixed-use infill apartment sites in Denver. The future projects will be located at 955 Bannock Street in the Golden Triangle, 46th Avenue and Tennyson Street in Berkeley, and 2009 Chestnut …


Developers Push to Replace Sears and Macy’s Stores with Multifamily

As the department store industry continues to face extreme pressures, the owners of The Streets at SouthGlenn, Alberta Development Partners and Northwood Investors, recently submitted plans to the City of Centennial to allow for redevelopment of a vacant Sears and soon-to-close Macy’s on the site into hundreds of apartments. The Streets at SouthGlenn is a …

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Hamilton Zane Purchase Colorado Springs Apartment Community

San Francisco-based real estate firm Hamilton Zanze (HZ) has acquired the 200-unit Enchanted Springs apartment community in Colorado Springs. Management of the property has also been transitioned to HZ affiliate Mission Rock Residential, a Denver-based company. The community, built in 2020, is located in a steady submarket of the Colorado Springs …


Apartment Construction Rates in Denver Down by 46% Compared to Last Year

Apartment construction remains strong this year, with over 330,000 new rental units expected to be delivered nationwide. Despite challenges brought by the pandemic, projections are comparable to the previous four years of the construction boom. While eight out of the top 20 metros are expected to hit a five-year high …


Broadmark Realty Capital Originates Construction Loan in Fort Collins

Broadmark Realty Capital Inc., an internally managed secured real estate finance company with an office in Denver, has announced the origination of a short-term construction loan totaling $31.5 million to sponsor Castle Rock-based Pacific North Enterprises, LLC (“Pacific North”). The loan will be used to fund the horizontal construction of a mixed-use …


$11.8M Acquisition Financing Arranged for Westminster Apartment Community

JLL Capital Markets has arranged $11.8 million acquisition financing for Willowbrook Apartments, a 95-unit, garden-style, multi-housing community in Westminster. JLL worked on behalf of Epic Investment Services to secure the seven-year, floating-rate loan through Freddie Mac. The loan will be serviced by JLL Real Estate Capital, LLC, a Freddie Mac Optigo℠ lender. Willowbrook Apartments …