93-Unit Student Multifamily Property Sold in Bankruptcy Auction
Colliers Denver, in partnership with Colliers Phoenix, announced on April 1, 2025, that escrow closed on the sale of University Flats Phase I, a 93-unit (262-bed) student multifamily community, located at 1750 6th Avenue, in Greeley. The two firms exclusively listed and marketed the property during a robust bankruptcy auction and sale process under the supervision of the appointed Chapter 11 trustee, Bryan Perkinson, and his counsel, Matthew Faga of Markus Williams Young and Hunsicker, LLC.
The community, built in 2014, features a pool, clubhouse and work out facility. It is located across the street from the University of Northern Colorado’s athletic fields, walking distance to campus and Greeley’s downtown retail area.
Craig Stack of Colliers Denver stated, “Well-located multifamily assets continue to attract significant interest from the investment community and we had multiple interested bidders.” Brad Cooke of Colliers Phoenix added, “Buyers were attracted to the rare opportunity to acquire a newer vintage property below replacement cost with significant upside in operations.”
The Trustee’s sale of substantially all property of Greeley Flats DST was approved in chapter 11 case No 24-11573-KHT by the U.S. Bankruptcy Court for the District of Colorado.
Historic Highland Square Property Sells to Hydrate IV Bar
Henry Group Real Estate announced the successful sale of a freestanding retail property at 3440 W 32nd Avenue in Denver’s historic Highland Square shopping district. The 1,688-square-foot freestanding building, situated on a 3,150-square-foot lot, was sold on March 31, 2025, for $944,000 ($559/SF) to longtime tenant Katie Wafer Gillberg, founder of Hydrate IV Bar and Carl Gillberg, marking their first commercial real estate acquisition.
Purchased in 1997 by sellers Marshall and Janine Vanderburg, the early 1900s Victorian-style building served as a multi-tenant retail hub. Over the years, the property housed various small businesses, including a Pilates studio and a boutique second-hand clothing store, each contributing to the unique character of Highland Square. Recognizing the neighborhood’s potential in the thriving commercial corridor, the Vanderburgs initially occupied the space for their own business before leasing it to a series of local entrepreneurs.
In 2016, Katie Gillberg, a fifth-generation Colorado native, founded Hydrate IV Bar, a wellness-focused IV therapy spa. She expanded her business in 2017, opening a second location at 3440 W 32nd Avenue under a long-term lease with the Vanderburgs. Hydrate IV Bar has since grown to include eleven locations in Colorado and twenty nationwide, with more in development. With this acquisition, Katie and Carl Gillberg have secured a permanent home for Hydrate IV Bar in the heart of Highland Square.
“This transaction underscores Highland Square’s enduring appeal as a premier retail and investment destination in Denver,” said Montana Rae of Henry Group Real Estate, who, alongside Boston Weir, represented the sellers. “The West Highlands continues to thrive, with strong demand from residents and businesses eager to establish roots in this neighborhood. Hydrate’s commitment to staying here for the long term makes perfect sense, and we are thrilled to have been involved.” The buyer was treated as a customer in the transaction.
NorthPeak Commercial Advisors Brokers 6-Unit Multifamily Property in Littleton for $900,000
NorthPeak Commercial Advisors announced the sale of 5551 S Delaware St., Littleton. The 4,278-square-foot, 6-unit multifamily property sold for $900,000 ($150,000/Unit).
Jack Sherman and Hunter Schaefer of NorthPeak Commercial Advisors worked with the buyer and seller in this transaction.
“We were pleased to get this across the finish line for our seller,” stated Sherman. “After generating over 25 tours with qualified buyers, we got this deal done at a price that reflected a current 5.2% CAP rate in a challenging market.”
16 Units in Englewood Near River Point at Sheridan Sell for $125K/Unit
Kaufman Hagan announced the sale of 1690 W Girard Ave, Englewood, a 16-unit multifamily property conveniently located near River Point at Sheridan, a south Denver retail district with over 800,000 square feet of consumer options. Sold for $2 million, this property comprises 16 units and 8,576 square feet, averaging $125,000 per unit and $233.21 per square foot.
Kaufman Hagan Broker Andrew Vollert represented both the buyer and seller in this transaction.
“After an efficient marketing process, we successfully connected the sellers with the ideal buyer, who was easy to work with throughout the entire due diligence process—an achievement worth highlighting in today’s market. The buyer was drawn to the strong fundamentals of the deal, including the property’s basis and prime location, which offer potential for growth and appreciation. Meanwhile, the seller is pleased with the outcome, securing a strong price and unlocking their equity,” said Andrew Vollert, broker, Kaufman Hagan Commercial Real Estate.
Industrial Building in Arvada Sells to Denver Museum
Digby Commercial Advisors announced that the industrial small bay building located at 4700 W 60th Ave in Arvada has sold for $3,150,000. Mathews Family LLC sold the property to The Telecommunications History Group Inc.
Tanner Digby and Wade Wilson of Digby Commercial Advisors represented the seller and Renee Spicer of Genese Commercial Group LLC represented the buyer. The buyer purchased the facility as a place to expand their museum, the Connections Museum Denver. This will be the third location for the museum.
Digby Commercial Advisors is a full-service commercial real estate brokerage firm, specializing in acquisitions, dispositions, leasing, tenant representation, and land development. They are notorious for finding and completing “off-market” deals for their clients.
