Brinkman Completes Nearly $55 Million in Transactions this Month

Real estate development and investment company Brinkman closed this week on the acquisition of Windom Peak, bringing their total transactions close to $55 million in the last 30 days. The company’s other transactions in the past month include the acquisition of a Steamboat Springs retail/office center, Sundance at Fish Creek, for …


Aurora Apartments Acquistition Marks Second-Highest Multifamily Sale of 2019

Los Angeles-based IMT Capital LLC has purchased The Savoy at Dayton Station Apartments, a 612-unit community located at 3645 South Dallas Street in Aurora, just steps from the Dayton Light Rail Station. This marks one of the largest properties to sell this year, second to the 1,023 units Ivy Crossing sale in April 2019. …


Greystar Acquires Site of New Multifamily Project in Denver

600 Park Avenue W., the site of a new 13-story, 238-unit multifamily complex under construction in Denver’s Five Points neighborhood, has sold for $9.1 million. The Carlton Group, an international real estate investment banking firm, advised the seller, Alsation Multifamily Group, on the investment sales transaction. The property was acquired by Greystar and …


The Foundry Celebrates Grand Opening in Downtown Loveland

By Stephanie Ashley, marketing & communications manager, Brinkman City officials, staff, project team and community members gathered to celebrate the official Grand Opening of The Foundry on Thursday Aug.15. The Foundry is a $76 million public/private partnership with the City of Loveland, Brinkman and investment partners Brue Baukol Capital Partners and Colmena …


Rents Losing Steam, says Colorado Rent Report

With 2019’s rental season well underway, apartment prices across the country are starting to lose steam. In Colorado, only two out of the 22 cities analyzed (Parker and Colorado Springs) saw MoM growth of more than 1 percent, according to Rent Café’s National Rent Report. Key takeaways: The national average rent …


Copperleaf Place Apartments in Fort Collins Sell for $22M

According to CBRE, Real estate development and investment company Brinkman has sold Copperleaf Place multifamily community, located at 3425 South Shields Street in Fort Collins, for $21.825 million Dan Woodward, David Potarf, Matthew Barnett and Jake Young with CBRE Capital Markets represented Brinkman. The buyer, Warm Springs Holdings, a private buyer from Calif., …


Local Developer Proposes Development on Westminster’s Last Remaining Parcel of Farmland

Local development company Oread Capital & Development — which acquires, develops, and operates best-in-class residential and mixed-use communities, primarily in the Denver and Boulder market areas — has proposed development for 230 acres between 88th Avenue, Federal Boulevard, Lowell Boulevard, and 82nd Avenue in Westminster, on the last remaining parcel of farmland …


Geothermal-Powered Apartment Community in Brighton Sells for $72M

Last week, a 288-unit, geothermal-powered apartment community in Brighton, sold for $72 million in an off-market transaction. Elements at Prairie Center, located at at 3128 Eagle Boulevard is the second 100-percent geothermal apartment community the ownership partnership of Littleton-based C&A Companies and Delaware-based Commonwealth Group, has developed in the Brighton area. CBRE’s Dan …


Absorption Totals Outpace Construction; Tight Labor Market Supports Workforce Housing

Multifamily demand remains strong despite tightened mortgage rates, according to Marcus & Millichap’s 3Q19 Multifamily Market Report. The Denver metro has one of the nation’s 10 largest affordability gaps between renting and owning, persuading many to choose apartment living rather than homeownership. There is an $880 difference between the average effective rental payment and …

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Mix of Market-rate and Affordable Units Planned for Longmont

Massimino Development and Origin Investments will develop a 280-unit, Class A apartment project called Farm Haus, in the north Denver suburb of Longmont. Of the 280 units, 247 will be market-rate and 33 will be designated as affordable. JLL worked on behalf of the developer to provide $50.4 million in …