Rental Rates in Denver Ahead of National Average
According to RealPage, a Texas-based real estate software firm. a recent RealPage Asset Optimization webcast revealed that rental rates in Denver are at a national high. Back in 2010, effective monthly rents in Denver were $800 on average, roughly 17 percent below the national average. By the end of 2018, monthly prices in …
Louisville Apartments Sell for $67M
North Main Apartments at Steel Ranch, located at 1724 Steel Street in Louisville, has sold for $67 million. Dan Woodward, David Potarf and Matthew Barnett with CBRE represented the seller, Steel Ranch Apartments LLC of Golden, CO. The property was purchased by a confidential entity in a sale that closed March 13, 2019. …
Denver a Top Target for Commercial Real Estate Investment
DENVER — A recent survey of commercial real estate investors ranked Denver as a top target among Americas metros. Denver advanced for the third year in a row, jumping two spots to tie with Atlanta at No. 5 in CBRE’s 2019 Americas Investor Intentions Survey. The survey, which covers all asset types, found …
Multifamily Asset in Colorado Springs Sets New Per-Unit Record
COLORADO SPRINGS — Overlook at Interquest, a 2018-constructed, 264-unit asset in Colorado Springs, has sold for $66.5 million. As the first pre-stabilized multifamily asset sold in recent Colorado Springs history – with 80 percent occupancy at the time of sale – the transaction represents the market’s demand for new product and demonstrates a boost …
New Lakewood Apartment Community Breaks Ground
LAKEWOOD — Wood Partners, a national leader in multi-family real estate development and acquisition, has started construction on Alta Green Mountain in Lakewood. Comprised of 260 garden-style homes, Alta Green Mountain is located at 13155 West Mississippi Court and is one of only four new market-rate rental properties to come online in the North …
Continued Cap Rate Stability Expected in H1 2019, Predicts CBRE
DENVER – Strong economic growth, abundant capital, and a favorable supply and demand environment led to broadly stable capitalization rates for U.S. commercial real estate assets in the second half of 2018, according to the latest research from CBRE. The CBRE North America Cap Rate Survey provides insights on movements for the major property asset classes. …
White Fence Farm to Become Apartment Complex
LAKEWOOD — White Fence Farm, the beloved family-friendly restaurant that shut its doors in December, will be developed into an apartments to be named Novel White Fence Farm. Crescent Communities, a residential and commercial real estate company, is currently developing plans for the property — a pool and fitness center will …
RedPeak Properties Adds 6 Denver Multifamily Properties to Portfolio
View here Denver-based RedPeak Properties has purchased the following six multifamily properties in Denver, totaling 206 units, for $39 million. 1280 Lafayette St. 1402 Race St. 899 N. Washington St. 10 S. Pennsylvania St. 960 S. Logan St. 1360 Williams St. Last year, RedPeak bought a total of 501 units …
Groundbreaking: Southern Land Company’s Rêve Boulder Community
BOULDER – Rêve Boulder, a mixed-use community that promises to expand and diversify Boulder’s housing, retail and office options, recently broke ground. Leasing for the project is expected to begin in early 2020, with completion anticipated in the summer of 2021. Located at 30th and Pearl Streets, across from Google’s new campus, this six-acre …
Renovation of Denver Affordable Apartments Complete
LAKEWOOD — Pinkard Construction, with owner Sierra Vista Housing Partners, owner’s representative The ITEX Group, and WORKSHOP8 architects, has completed renovations of the $10.9 million Sierra Vista Affordable Apartments in Denver. The 40+ year old, 209-unit facility, which consists of four, three-story wings radiating from a central clubhouse-hub was renovated on …