American Realty Advisors Acquires Class A Multi-Family Downtown Denver
Denver, CO – American Realty Advisors announced the acquisition of a newly-constructed, 314-unit multi-family property located in the Union Station submarket of Downtown Denver. The building also features approximately 58,000 SF of ground floor retail space and a 2-story subterranean parking garage. The property, formerly known as Elan Union Station, …
Hunt Mortgage Group Refinances a Multifamily Property in Denver
Denver, CO – Hunt Mortgage Group recently announced that it provided a $5 million Freddie Mac Small Balance loan to refinance a multifamily property located in Denver, Colorado. Hunt Mortgage Group was selected as one of only three financial institutions to pilot the Small Balance Loan program when it was …
Pinnacle Announces Sale Several Multifamily Units: Lakewood, Westminster & Denver
Lakewood, CO – Josh Newell, Senior Advisor at Pinnacle Real Estate Advisors, LLC, announces the sale of Andi Lynn Flats located at 213-233 S. Ingalls Street in Lakewood, Colorado. The 16-unit property sold on May 13th with a contract price of $$2,125,000; $132,813 per unit and $160.26 per square foot. …
CO Construction-Defects Alternative Dies
View here Following up on a story reported on Monday, May 9th, the alternative study to investigate Colorado’s construction-defect reform did not pass in the legislature. It was argued that millennials are not interested in purchasing lower-priced condominiums by chairwoman Rep. Su Ryden, D-Aurora. Two affordable housing bills were passed through …
Downtown Denver Partnership Releases 2016 State of Downtown Denver Report
Denver, CO – The Downtown Denver Partnership issued today the 2016 State of Downtown Denver report. The annual report, funded in part by the Downtown Denver Business Improvement District, is one of the most comprehensive statistical looks at the stories and statistics behind a thriving center city, detailing increasing investment, strong …
Alternative Proposed to CO Construction-Defects Reform Bill
View here In response to the failed construction-defects reform bills, which fell apart last Thursday in the Colorado Legislature, Senate Bill 213 offers an alternative with a study group to help advance negotiations. The group would propose recommendations by March 2017 to the construction-defects litigation in an effort to increase the …
Denver Building Boom Reaches $4.2 Billion
Denver, CO – CBRE Research releases their latest Market Flash for the Denver construction market, which is reporting nearly $4.2 billion of commercial building in progress (excluding single-family residential, healthcare and infrastructure projects). Multifamily and hospitality projects are recorded as representing 74% of the total value. Graphic courtesy of CBRE Research
Capitol Hill Multi-Family Sells Record Per-Unit Price
View here ARA, a Newmark Company brokered a landmark deal in Colorado with the 10-unit apartment complex at 901 Washington in Capitol Hill that sold for a record per-unit price of $525,000. Photo credit Mediamax, Inc.
HFF Facilitates $20.74M Financing 2 Multifamily Properties Colorado Springs
Colorado Springs, CO – Holliday Fenoglio Fowler, L.P. (HFF) announced recently that it has arranged financing totaling $20.747 million for two adjacent Colorado Springs multi-housing communities: Summer Grove and Tanglewood. Working on behalf of the borrower, Vukota Capital Management (VCM), HFF placed two seven-year, fixed-rate Fannie Mae loans with M&T …
ARA Newmark Sells 15-Acre Site for New South Denver Community
Castle Rock, CO — The multi-housing land team of ARA, A Newmark Company (ARA Newmark) announces the sale of a 15.22-acre site for a new community in the south Denver suburb of Castle Rock, Colorado. Construction on Ledges at the Promenade will begin in April 2016 and is expected to …