Two-phased Phenix at Infinity Park Receives $22.86M Funding
JLL has arranged $22.86 million in financing for Phenix at Infinity Park I and II, two adjacent multi-housing properties totaling 185 units in the Denver suburb of Glendale. Working on behalf of Glendale-based Slipstream Properties, JLL arranged two 10-year, interest-only, fixed-rate loans through Freddie Mac’s Green Advantage program. The loans …
Ventana Apartments in Denver Sell for $53.7M
The Ventana apartments located at 5095 East Donald Avenue in Denver, have sold for $53.7 million. David Potarf, Dan Woodward and Matthew Barnett with CBRE Capital Markets in Denver represented the seller, Cypress Equities of Los Angeles. The buyer, Indianapolis-based Birge & Held, purchased the property in a sale that closed August 22, …
292-Units Break Ground Near Mile High Stadium
Katerra, a technology-driven construction company, broke ground earlier this month on Cirrus, the company’s latest project alongside developer UDR. Cirrus is a 230,000-square-foot residential development featuring 292 apartments on a 2-acre lot west of Mile High Stadium at 1590 Grove Street in Denver. Cirrus will help address Denver’s continued affordable housing shortage crisis. …
Brinkman Completes Nearly $55 Million in Transactions this Month
Real estate development and investment company Brinkman closed this week on the acquisition of Windom Peak, bringing their total transactions close to $55 million in the last 30 days. The company’s other transactions in the past month include the acquisition of a Steamboat Springs retail/office center, Sundance at Fish Creek, for …
Aurora Apartments Acquistition Marks Second-Highest Multifamily Sale of 2019
Los Angeles-based IMT Capital LLC has purchased The Savoy at Dayton Station Apartments, a 612-unit community located at 3645 South Dallas Street in Aurora, just steps from the Dayton Light Rail Station. This marks one of the largest properties to sell this year, second to the 1,023 units Ivy Crossing sale in April 2019. …
Greystar Acquires Site of New Multifamily Project in Denver
600 Park Avenue W., the site of a new 13-story, 238-unit multifamily complex under construction in Denver’s Five Points neighborhood, has sold for $9.1 million. The Carlton Group, an international real estate investment banking firm, advised the seller, Alsation Multifamily Group, on the investment sales transaction. The property was acquired by Greystar and …
The Foundry Celebrates Grand Opening in Downtown Loveland
By Stephanie Ashley, marketing & communications manager, Brinkman City officials, staff, project team and community members gathered to celebrate the official Grand Opening of The Foundry on Thursday Aug.15. The Foundry is a $76 million public/private partnership with the City of Loveland, Brinkman and investment partners Brue Baukol Capital Partners and Colmena …
Rents Losing Steam, says Colorado Rent Report
With 2019’s rental season well underway, apartment prices across the country are starting to lose steam. In Colorado, only two out of the 22 cities analyzed (Parker and Colorado Springs) saw MoM growth of more than 1 percent, according to Rent Café’s National Rent Report. Key takeaways: The national average rent …
Copperleaf Place Apartments in Fort Collins Sell for $22M
According to CBRE, Real estate development and investment company Brinkman has sold Copperleaf Place multifamily community, located at 3425 South Shields Street in Fort Collins, for $21.825 million Dan Woodward, David Potarf, Matthew Barnett and Jake Young with CBRE Capital Markets represented Brinkman. The buyer, Warm Springs Holdings, a private buyer from Calif., …
Local Developer Proposes Development on Westminster’s Last Remaining Parcel of Farmland
Local development company Oread Capital & Development — which acquires, develops, and operates best-in-class residential and mixed-use communities, primarily in the Denver and Boulder market areas — has proposed development for 230 acres between 88th Avenue, Federal Boulevard, Lowell Boulevard, and 82nd Avenue in Westminster, on the last remaining parcel of farmland …