Tennyson44 Multifamily Community Sells for $19.15M
Tennyson44, a five-story, 47-unit multifamily property in the Tennyson/Berkeley neighborhood of Denver, has sold for $19.15 million. Robert Bratley of CBRE’s Denver office arranged the sale on behalf of the seller, Forbes Partnership, Inc. The buyer was an out-of-state investor who acquired the property in an all-cash transaction. It is a long-term addition …
Lakewood Residents to Vote on Initiative 200
View here This week, Lakewood residents will receive ballots for a July 2 election to vote on Initiative 200, a measure that would impose a 1 percent growth-cap on its city of roughly 155,000 people and also require city approval for larger projects. If the ballot passes, proponents believe that it will help …
U.S. Multifamily Rent Growth Slows Down
A new national report from Yardi® Matrix shows that U.S. multifamily rent growth in 2019, while steady, falls short of the levels seen in recent years. The average rent, which reached $1,442 in May, has grown $14 over the last three months. While that represents a year-to-date increase of 1.2 percent, …
Coliving a Niche Asset Class on the Rise
As rent seems to continuously rise in Denver, people are beginning to seek out more affordable options that don’t skimp out on amenities. Coliving is one option that centers around a type of intentional community housing where multiple people share a single home with shared areas such as bathrooms, kitchens …
58-Unit Multifamily Complex in Carbondale Sells for $9.15M
Garfield Avenue Apartments, a three-story, 58-unit complex located at 900 Garfield Avenue in Carbondale, Colorado, has sold for $9,150,000 or $157,758 per unit. Tyler Stevens, director, and Steve Scrivener, senior associate, of Cushman & Wakefield Denver, represented the seller, MHP Funds, in the transaction. The buyer was Steve Elken of …
Mixed-Use Development Gaining Momentum in Wheat Ridge
Development plans are well underway at Clear Creek Crossing, a 110-acre, mixed-use development southwest of Interstate 70 and Highway 58 in Wheat Ridge, Colorado, owned by Evergreen Devco, Inc. , a leading national retail and multifamily development company. To date, Kum & Go and Evergreen Multifamily have submitted Specific Development …
Portfolio of Colorado Apartment Communities Sells for a Record-Breaking $206M
LOVELAND — Three upscale multifamily properties located in Northern Colorado have sold for a gross sale price of $206.5 million. The portfolio consists of the Greens at Van de Water and Lake Vista at Centerra Apartments, both in Loveland, and Arbour Square at Orchard Town Center in Westminster. Inland Private …
Littleton Apartments Fetch $10.9M
DENVER – Broadridge Apartments, a 54-unit apartment complex located at 6900 S. Bannock St in Littleton, has sold for $10.9 million ($201,851/unit). Jeff Johnson and Andrew Monette, at Pinnacle Real Estate Advisors, LLC, assisted both the buyer and seller parties in the transaction. “Since their acquisition of the property, the Sellers …
Residential Developers Keen to Invest at Peña Station Next
View here Developers like MGL Partners — a Denver-based multifamily development company and developer of the 218-unit Elevate at Peña Station apartment community at Peña Station Next — are keen to capitalize on the growing need for more housing within the smart-city neighborhood. According to Denver Business Journal, 35,000 people …
HFF Arranges Financing for Six Apartment Communities Including One in Denver
DENVER – Advenir, Inc., a real estate investment company headquartered in Aventura, Florida has received financing totaling $190.873 million for six apartment communities comprising 1,843 units In Texas, Alabama, and Colorado. including Advenir at Bear Valley, a 230-unit property located at 3550 S. Kendall Street in Denver. Holliday Fenoglio Fowler, …