BrokerageMultifamily

56-Unit Apartment Building Sells in Cherry Creek School District

Nexus Commercial Realty, LLC, a full-service firm for the multifamily commercial real estate industry in Denver, has closed on the sale of Cherry Creek Square, a 56-unit, 39,600-square-foot building for the sale price of $7,510,000. The building has an attractive location on E. Florida Avenue between S. Havana Street and S. …

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DevelopmentMultifamilyRetail

Newmark Knight Frank Secures $81M Loan for 255 St. Paul Street in Cherry Creek North

Newmark Knight Frank has arranged an $81 million fixed-rate loan for the refinancing of 255 St. Paul, part of BMC Investments’ St. Paul Collection property located in the Cherry Creek North. The NKF team was led by Dustin Stolly and Jordan Roeschlaub, vice chairmen and co-heads of Debt & Structured Finance, along with Nick …

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CondominiumDevelopmentMultifamily

Sloans Lake Rezoned for 300 Apartment Units

View here Denver City Council has voted in favor of a rezoning application for Sloans Lake that will allow for the development of 300 affordable apartment units, just south of the lake. The new zoning will permit a sixteen-story and a four-story building. The land is currently occupied by a …

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MultifamilyReports

Highest Rents Recorded in Boulder and Fastest Rent Growth in Greeley

RENTCafé.com, a nationwide apartment search website and a part of Yardi, recently released its monthly rent report with data compiled from actual rents charged in the 260 largest U.S. cities. Here are the highlights for the state of Colorado: Slightly above the national average of $1,442, rents in Denver reached $1,633 this …

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BrokerageMultifamily

Denver-based Griffis Residential Acquires Denver Apartments for $45.65M

Talavera Apartments, a 240-unit, mid-rise multi-housing community located in Denver has sold for $45.65 million. Holliday Fenoglio Fowler, L.P. (HFF) worked on behalf of the borrower, Denver-based Griffis Residential, to secure the 10-year, Fannie Mae Green Rewards loan through HFF’s risk-transfer joint venture with M&T Realty Capital Corporation. The loan, which was …

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BrokerageMultifamily

Colorado Springs Apartment Community Sells for $17.25M

Regal Estates Apartments, a 150-unit community located at 105, 115, 125, 135, 145, 155 South Academy Blvd in Colorado Springs, has sold for $17.25 million. Mike Krebsbach, senior advisor with Pinnacle Real Estate Advisors LLC, represented the Buyer, Hazel Grace LLC in the transaction. “Our client is very excited about their acquisition of Regal …

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BrokerageMultifamily

Apartment Complex in Lakewood Sells for $1.87M

Sheridan Station Flats located at 1315 Sheridan Street in Lakewood, has sold for $1,870,000. The Sheridan Station Flats is a 15-unit apartment complex that was recently constructed. The complex includes an exterior walkup with private off-street parking and short and long-term bike storage. The 485-square-foot one-bedroom/one-bathroom units include granite countertops, …

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BrokerageMultifamily

Tennyson44 Multifamily Community Sells for $19.15M

Tennyson44, a five-story, 47-unit multifamily property in the Tennyson/Berkeley neighborhood of Denver, has sold for $19.15 million. Robert Bratley of CBRE’s Denver office arranged the sale on behalf of the seller, Forbes Partnership, Inc. The buyer was an out-of-state investor who acquired the property in an all-cash transaction. It is a long-term addition …

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DevelopmentMultifamily

Lakewood Residents to Vote on Initiative 200

View here This week, Lakewood residents will receive ballots for a July 2 election to vote on Initiative 200, a measure that would impose a 1 percent growth-cap on its city of roughly 155,000 people and also require city approval for larger projects. If the ballot passes, proponents believe that it will help …

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Downtown Denver
MultifamilyReports

U.S. Multifamily Rent Growth Slows Down

A new national report from Yardi® Matrix shows that U.S. multifamily rent growth in 2019, while steady, falls short of the levels seen in recent years. The average rent, which reached $1,442 in May, has grown $14 over the last three months. While that represents a year-to-date increase of 1.2 percent, …

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