CA Ventures Announces $65M Sale of Fort Collins Apartment Building, 281 Willow
CA Ventures, an international real estate investment, development and management company, announced the sale of 281 Willow, an apartment building ideally located in Fort Collins.
The $65 million sale, which closed on September 28, was made possible due to the leadership of CA Ventures CEO Tom Scott and Chief Investment Officer John Diedrich. The sale was arranged by the Walker & Dunlop Denver Investment Sales team on behalf of CA Ventures, the client, and Borello Asset Management Inc., which was the buyer.
281 Willow is a 197-unit, newly constructed Class A apartment community conveniently located in the flourishing market of Fort Collins, which has strong multifamily fundamentals.
Located directly adjacent to downtown Fort Collins, the apartment community offers residents central access to everything that the city has to offer, including abundant restaurants, retail and recreation outlets to employment opportunities.
CA Ventures has grown from a small niche company started in 2004 to a multi-faceted, global commercial real estate firm. Today, it has more than $10 billion in global assets.
$99M in Financing Secured for Luxury Denver Apartment Community
JLL Capital Markets has arranged the $99 million refinancing of The Fitzgerald, a 282-unit, 11-story luxury apartment community in the LoDo neighborhood of downtown Denver.
JLL represented the borrower, Greystar, to secure a floating-rate, three-year loan through Otera Capital.
Built in 2022 and situated at 1840 Market St., The Fitzgerald spans an entire city block between 18th Street and 19th Street and offers walkability to LoDo’s best shops, cafes, restaurants and entertainment. Within five minutes of the property are other popular neighborhoods, including Larimer Square, Union Station, LoHi, RiNo, Platte Street, Cherry Creek and the Golden Triangle.
The JLL Capital Markets Debt Advisory team was led by Senior Managing Directors Charles Halladay, Jordan Angel and Andy Scott, Director Rob Bova and Associate Ethan Habecker.
“The Fitzgerald’s location, quality, and amenity offering created significant demand from lenders. Despite a higher interest rate environment, best-in-class borrowers, such as Greystar, have many options for financing high-quality housing projects. We are deeply grateful to Greystar for putting their trust in JLL to finance this asset for them and Otera for being a great partner,” said Angel.
The LeClaire-Schlosser Group of Marcus & Millichap Arranges the Sale of StorQuest (Managed) in Aurora
The LeClaire-Schlosser Group of Marcus & Millichap, a leading commercial real estate investment services firm with offices throughout the United States and Canada, today announced the sale of StorQuest (Managed), a 79,605-square-foot storage facility located in Aurora.
Adam Schlosser, senior managing director of Investments, and Charles “Chico” LeClaire, executive managing director of Investments, in Marcus & Millichap’s Denver office, had the exclusive listing to market the property on behalf of the Seller, a local private equity group. The buyer, an out-of-state firm that is new to the storage market, was also procured by Schlosser and LeClaire.
StorQuest (Managed) includes one multi-story climate-controlled building and 11 single-story buildings consisting of 261 climate-controlled units and 353 non-climate-controlled units. Situated on the southeast side of the E-470 loop, the facility has visibility to over 45,000 vehicles per day. StorQuest (Managed) offers its customers many amenities like 24-hour video surveillance, premium interior and exterior lighting, secure digital keypad ingress/egress, a large well-appointed leasing office with a conference room, prominent signage, and wide drive aisles.
Capstone Closes the sale of Canyon Retreat Apartments, Colorado Springs
Capstone has closed the sale of Canyon Retreat Apartments, a 5,252-square-foot multifamily property for the sale price of $1,310,000. Adam Riddle & Conor Cavanor of Capstone brokered the transaction.
Canyon Retreat Apartments, located at 3737 and 3746 Red Canon Place in Colorado Springs, was built in 1955. The property consists of two buildings: the first has 8 units, featuring a mix of four studios and four 1 bedroom/1 bath apartments, while the second building features two spacious 1 bedroom/1 bath apartments along with a separate shared laundry space. The seller is a long-standing client of Capstone and has owned this property since 2015. The decision to sell is due to the owner residing out of state.
We contacted the buyers because they have a presence in the submarket. They were chosen because they had strong lending relationships in Colorado Springs, as well as both owning several other multifamily investments in the area. This property had been previously operated as an Airbnb and with their experience, it gave them a leg up on other investors.
Canyon Retreat Apartments is conveniently located right off Highway 24, situated between Old Colorado City and Manitou Springs. The property offers the convenience of being within walking distance to both the Red Rock Canyon Open Space and Garden of the Gods.
Pinnacle Announces Sale of 37,070 SF Office Property in Westminster
Pinnacle Real Estate Advisors, LLC announced the sale of a 37,070-square-foot office property for $2,200,000 located at 8670 Wolff Ct, Westminster.
Eric Shaw, vice president, and Jeff Caldwell, principal, of Pinnacle Real Estate Advisors, represented the seller, Sunflower Bank in the transaction.
“This was a true value-add multi-tenant office building sale. The buyer, based out of California, plans on addressing the deferred maintenance issues and will be leasing the remaining vacancies”, said Eric Shaw.
For more information on this sale please Eric Shaw or Jeff Caldwell.