Luxury Apartment Building in SoBo Sells for $73.2M
Alta SoBo Station, a 187-unit, luxury multifamily community, located at 500 W Cedar Ave in Denver, has sold for $73.2 million, according to property records. Newmark Vice Chairmen Terrance Hunt and Shane Ozment and Executive Managing Director Chris Cowan represented the sellers–Atlanta-based developer Wood Partners and San Francisco-based Stockbridge on behalf of …
Avison Young Release Denver Market Forecast for 2021
In 2020, Denver remained in the top twenty markets for total investment volume for the year ending in 3Q 2020, with large deals occurring across the sectors even amidst the pandemic. And, according to the Avison Young market forecast for Denver in 2021, Denver’s investor interest will likely persist next year, …
Residential Village Breaks Ground at Centerra
McWhinney has broken ground on the new Kinston residential village at Centerra in Loveland. Spanning 630 acres, Kinston will offer 2,800 home sites and accommodate nearly 8,000 residents by the time of completion within the next 10-15 years. Located at the epicenter of northern Colorado, Kinston represents a significant milestone in …
Urban Villages Unveils Design for Striking New Mixed-Use Building at 14th and Court in Denver
Urban Villages, a Denver-based real estate firm that focuses on long-term value creation, in partnership with world-renowned architecture practice Studio Gang, revealed the design of a new 145,000-gross-square-foot, 13-story mixed-use building – known as “Populus” – located at 14th Street and Colfax Avenue, immediately adjacent to Civic Center Park. Populus is designed to reenergize …
Cherry Creek North Apartment Community Changes Hands and Gets New Name
Griffis Residential has acquired Alexan Cherry Creek, a recently completed, 164-unit apartment community in Cherry Creek, for $73.25 million, according to public records. Griffis purchased the property from from the properties developer, Trammell Crow Residential and has renamed the property Griffis Cherry Creek North. After a successful lease up, Transwestern Investment Group (TIG) engaged …
XDenver2 Secures Construction Financing
The X Company has secured a $105.3 million construction loan for the construction of X Denver2 (XD2) in Denver’s Arapahoe Square. “We are excited to continue to grow the X brand and want to thank our partners CIM and JLL for all the work it took to get this done …
Denver Developer Proposes Large Mixed-Use Project Near DIA
According to a concept plan submitted to the City of Denver, Denver-based developer The Pauls Corporation is proposing to construct a mixed-use development consisting of 1,175 units of for-rent apartments and townhomes, as well as 60,000 square feet of retail and hotels, on a 60.1-acre parcel of land at the northeast intersection …
Demand for Denver Condos Remains Strong
By Gini MacDonald, employing broker, HomeSmart Colorado 2020 has brought about dramatic and long-lasting changes to just about every area in American’s lives, including the real estate market, which has long been considered a safe haven for investment. Reports from around the country indicate the sale of multi-family units have plummeted in …
Denver Renters Rebounding While Concessions Remain High
New data shows a record number of Denver renters are searching for a new place to live on Apartments.com — the leading online apartment listing site with nearly 14,615 apartments listed in the Denver area. Prospective renters are enthusiastic about the market, searching for cheaper rents, taking advantage of increased concessions, and looking for properties with more space. …
Multifamily Development Coming to Central Park Master Plan
Mid-America Apartment Communities, a publicly traded real estate investment trust based in Memphis, Tennessee, has purchased a 26.92-acres of vacant land at the South East Corner of Central Park Boulevard and Northfield Boulevard in Denver. The tract is in the Central Park master plan, formally known as Stapleton, and is entitled for multifamily …