38-Unit Denver Apartment Property Sells for $10.1M
Pinnacle Real Estate Advisors, LLC announced the sale of Cherry Street Apartments located at 831 and 861 North Cherry Street in the Hale neighborhood of Denver. The 38-unit property, built in 1948, recently sold for $10,150,000; $267,105 per unit and $379.30 per square foot. Robert Lawson, principal, represented the unnamed buyer in …
CREW Denver Holds Mid-Year Economic Forecast
On July 14 CREW Denver held its Mid-Year Economic Forecast and happy hour at the University of Denver Knoebel Events Center. Patty Silverstein, president and chief economist of Developmental Research Partners, gave her economic forecast for 2021 which included trends in the commercial real estate and construction industry. Silverstein shared a …
PMG and Greybrook Realty Partners Acquire 123 Speer Blvd for $35M
A joint venture between national investment, development, and asset management firm PMG and Toronto-based private equity and asset management firm Greybrook Realty Partners, announced last week that they have purchased the Denver7 building on the 2.3 acre site at 123 Speer Blvd. for $35 million. PMG and Greybrook will develop Society …
Groundbreaking: Parterre Master-Planned Community in Thornton
Hines and partner Trez Capital have broken ground on Parterre, a new master-planned community in Thornton that will include for-sale single family, paired homes and multifamily units, as well as a mix of commercial and retail uses. Spanning across nearly 800 acres, the development will feature nearly 3,000 residential homes …
Local Developer Receives $50M Construction Financing for Broomfield Apartment Project
Boulder-based developer Mountain View Capital has received a $50 million construction loan for the development of Polaris Wadsworth Station Apartments, a 276-unit, to-be-built, luxury, garden-style multi-housing community in Broomfield. Senior Director Kristian Lichtenfels with JLL represented Mountain View Capital, in arranging a five-year, floating-rate loan with a national bank. With an …
Alliance Construction Solutions Breaks Ground on Stanley Residential
Alliance Construction Solutions (Alliance) has broken ground on Stanley Residential—a collaboration between Westfield, Shears Adkins Rockmore (SAR+), and Alliance. The 190,000-square-foot project, located just south of Stanley Marketplace in Aurora, will provide two 4-story buildings and include 168 Class A apartments with a boutique approach to amenities targeting the workforce housing …
Multifamily and Light Industrial Emerge as Hottest Asset Classes
Multifamily and light industrial have emerged as the hottest asset classes for commercial real estate funding post-pandemic, according to Dan Page, president of Boulder Equity Partners LLC, a nationwide lender for all commercial real estate loans. “We see growth and security (stability) in these sectors and are willing to be …
Leveling Up Multifamily Design for the Next Generation of Apartment Users
By Ashley Stiles Multifamily development was on a strong growth trajectory well before the COVID-19 pandemic upended the world economy, but the product type is seeing more demand than ever in some urban markets as for-sale housing becomes even more difficult and expensive to come by. Nationwide, 518,000 multifamily units have been absorbed …
Denver Apartment Portfolio Sells for $61M
Oak Coast Properties has acquired two rental properties in Denver for $61 million, The Avalon and Estrella, encompassing a total of 427 units. The real estate investment firm is planning $3.2 million in renovations as part of an enhancement plan aimed at improving the marketability and ROI of the communities. With this …
DB Capital Adds to Denver Portfolio with $31M Acquisition of Aurora Apartment Complex
DB Capital Management (“DB Cap”) has acquired Apex on the Highline (“Apex”), a 138-unit multifamily property in Aurora, for $31 million, according to a press release from the multifamily investment firm. DB Capital plans to substantially renovate the property, which was built in 1984, to make it more competitive with other …