MultifamilyOffice

Governor Halts Commercial and Residential Evictions

Colorado Governor Jared Polis issued an Executive Order on April 30 that temporarily prohibits the filing of eviction actions and the execution of eviction-related judgments, and bars landlords from charging late fees or penalties for a tenant’s failure to pay rent. Commercial and residential landlords are immediately subject to the …

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ConstructionDevelopmentMultifamily

Modera LoHi Apartments Project Charges Forward

In spite of the COVID Pandemic, the Modera LoHi Apartments project is charging forward as scheduled. While Alliance Construction Solutions has adapted new policies and procedures to maintain social distancing, safety, and jobsite cleanliness standards on all of its jobsites to combat the pandemic, this hasn’t stopped the Modera LoHi team from implementing …

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BrokerageMultifamily

288-Unit Multifamily Property in Broomfield Sells for $90.7M

Oakmont Properties has purchased Caliber at Flatirons, a 288-unit multifamily property located at 13872 Del Corso Way in Broomfield, for $90.72 million. Dan Woodward, David Potarf and Matt Barnett with CBRE’s Denver office represented the seller, The Garrett Companies of Greenwood, Ind. Oakmont Properties, represented by Marc Ross and CBRE’s Sacramento multifamily team, purchased …

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ConstructionDevelopmentMultifamily

Two Related Apartment Projects Under Construction in Union Station North

The X Company and Property Markets Group (PMG) are currently constructing the 251 unit X Denver project in Denver’s Union Station North neighborhood.” The project, which marks the partnership’s entrance into the Denver market, broke ground in late 2018 and is scheduled for completion later this year. According to PMG’s website, the 12-story tower will …

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BrokerageMultifamily

Apartment Sale Near Swedish Medical Center Demonstrates Continued Velocity

Creekside Apartments, a 17-unit apartment community near Swedish Medical Center in Englewood, has sold for $2,450,000. The sale represents a strong value-add opportunity in an area poised for growth. Matthew Beverly, Boomer Beatty and Peter Standley, all investment specialists in Marcus & Millichap’s Denver office, had the exclusive listing to …

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BrokerageMultifamily

Boulder Apartment Community Receives $22.4M Loan

Copper Ridge Apartment Homes, a 129-unit, garden-style community located in Louisville, has received $22.4 million in refinancing. Newmark Knight Frank (NKF) arranged the Freddie Mac, 10-year, fixed-rate refinancing. Though the refinance application was submitted in December, the borrower decided to postpone the closing date to April 1, 2020, at which time there would be no pre-payment …

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MultifamilyRentReports

Multifamily Remains Strong Investment

A Marcus & Millichap special report suggests that multifamily remains a solid commercial real estate investment through periods of uncertainty. The $2.2 trillion stimulus bill has provided a safety net for the short term while the population works together to slow the spread. While multifamily owners are concerned with the financial impact that will …

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BrokerageMultifamily

Congress Park Apartments Sell for $18.9M

Private local investor Elterra Investments has purchased Garfield Park, a 78-unit multifamily property located at 1300 and 1325 Garfield Street in Denver’s Congress Park neighborhood for $18,875,000. First Vice President Robert Bratley with CBRE’s Denver office represented Elterra Investments, who acquired the property in a sale that closed April 14. The name of …

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Multifamily

Joint Venture Acquires Multifamily Portfolio

A newly formed REIT joint venture — which includes property management company Simpson Housing, headquartered in Denver, Atlanta-based Domain Capital Advisors, and PFA Pension of Copenhagen, Denmark — has acquired a 49 percent equity interest in a 13-asset, Class A multifamily portfolio for an aggregate value of $1.05 billion. The multifamily …

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BrokerageMultifamily

Denver Multifamily Portfolio Sells for $12.2M

A three-property multifamily portfolio, located in Denver’s Cheesman Park and Congress Park neighborhoods, has sold for $12.2 million. Robert Bratley with CBRE’s Denver office represented the seller, a private local investor. An unnamed large local investment group purchased the 51-unit, 31,280-square-foot portfolio in a sale that closed March 31. The buyer plans to renovate …

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