Multifamily Construction Experiencing Delays, says Survey

The National Multifamily Housing Council (NMHC) has released a new survey on multifamily construction that found more than half (55 percent) of nationwide respondents said that they are currently experiencing construction delays in the jurisdictions where they operate. The survey, conducted between March 27 to April 1, is the first of a …


New Project: Bloom at Cherry Creek

$18.85 million in financing has been arranged for Bloom at Cherry Creek, a 111-unit, Class A mid-rise apartment property currently under construction in Cherry Creek. Due for completion in mid-2021, the five-story, podium-style property will total 70,733 rentable square feet across a mix of studio, one- and two-bedroom units. The project …


Lennar to Transform Denver’s Golden Triangle

Lennar Multifamily Communities is set to transform the Golden Triangle neighborhood adding multiple high-rise residential buildings that will replace unsightly parking lots. The developer broke ground on a 17-story residential tower at 10th and Acoma in December and recently submitted plans for an additional 17-story high-rise multifamily building at 12th and Acoma, as …


Aimco Provides an Update on COVID-19 and 2020 Guidance

Denver-based Apartment Investment and Management Company (“Aimco”) — one of the country’s largest owners and operators of apartments, with 124 communities in 17 states and the District of Columbia — today issued the following statement regarding the on-going COVID-19 pandemic: “Aimco’s first priority is the health and safety of our residents and teammates,” …


Joint Venture Receives Financing for S’PARK Railyards in Boulder

A joint venture between The John Buck Company, Kinship Capital and Element Properties, has secured $29.4 million in construction financing for S’PARK Railyards (Railyards), a 69,263-square-foot Class A office building in Boulder. JLL worked on behalf of a joint venture to secure the five-year, floating-rate construction loan through Wintrust Financial …


Shift Workspaces Offers Members Rent Relief in April

For all that’s changed since COVID-19 began dominating the headlines weeks ago, one thing hasn’t. Monthly rent payments. That is, until now. For Grant Barnhill, founder and CEO of Shift Workspaces, a Colorado coworking firm built on the values of mutuality, care, and social responsibility, the decision to waive April fees for his …


Apartment Sale in Lakewood Demonstrates Trend in Region’s CAP Rates

Rosalie at Belmar, a 40-unit apartment community in Lakewood, has sold for $7 million. According to Marcus & Millichap’s Denver office, steady rent growth in Denver’s submarkets has piqued the interest of investors. Boomer Beatty and Peter Standley, both senior associates in Marcus & Millichap’s Denver office, had the exclusive …


Colorado Springs Apartment Community Sells for $22M

PLC Apartments of Newport Beach, Calif., has made their first Colorado apartment acquisition. PLC purchased The Centre Apartments, a 168-unit apartment community in central Colorado Springs, for $21,900,000 ($130,357/unit). The seller, Skyline Real Estate Investments, a local partnership, was represented in the sale by Bill Morkes and Craig Stack of Colliers International. …


Rents in Denver Increase 3.1% YoY. Wheat Ridge Prices See Strong Growth

RENTCafé has released its  February Rent Report for the Denver Metro area. The online rental listing service analyzed apartment prices in 16 cities to see how they changed over the year. Nationwide, the housing market was strong in February, but, amid the COVID-19 pandemic, some changes are likely to appear. “We haven’t seen the impact of …

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1.65-Acres Adjacent to Broncos Stadium to be Redeveloped

Minneapolis-based The Opus Group has purchased a 1.65-acre land parcel at 19th & Clay in Denver. Newmark Knight Frank (NKF) Multifamily arranged joint venture equity for the development of a future 277-unit luxury apartment development. The vacant lot and parking garage are located adjacent to the Broncos Stadium Redevelopment in the thriving …