Bell Partners Acquires Denver Area Apartment Community
Bell Partners, one of the nation’s largest apartment investment and management companies, has acquired Montane Apartments, a 400-unit apartment community located in Parker. The property was acquired on behalf of the Company’s Bell Value Add Fund VIII and will be renamed Bell Parker Ranch.
“Bell Parker Ranch is located in one of Denver’s most desirable submarkets, characterized by strong demographic trends, attractive retail and recreational amenities, and great schools,” said Nickolay Bochilo, chief investment officer at Bell Partners. “We’re excited about the upgrades being planned for individual apartment homes, which we expect when combined with unique features already on the property will deliver a superior living experience for our current and future residents.”
Completed in 2018, Bell Parker Ranch is a garden-style community comprised of studios and one-, two-, and three-bedroom floor plans. Amenities include a lazy river (one of only two in Colorado), an oversized clubhouse and well-programmed green spaces. Notable retailers, such as Trader Joe’s, Costco and a new Whole Foods, are within walking distance from the property, as is the Cherry Creek Trail System, which connects to numerous parks throughout the city. The community is also located in the Douglas County School District, a top school district in the Denver metro area.
Jordan Robbins, senior managing director of JLL Capital Markets, brokered the deal.
With this acquisition, Bell Partners now owns or manages a portfolio of approximately 7,400 apartment homes in 21 communities across the Denver region.
100% Leased Industrial Property Sells to New Investor
Malman Real Estate announced the sale of 1250 Simms Street, Lakewood, consisting of 54,416 square feet for $7,252,000. The seller purchased the property in August 2023 for $5.16 million, made updates, leased it to 100%, and sold it for a profit in under two years.
Malman Real Estate’s Jake Malman represented the Seller, 1250 Simms LLC. The Buyer, 1250 Simms St LLC & 1250 Simms St JP LLC, was represented by Paul Cattin of Platinum CRE.
Malman Real Estate is a commercial real estate brokerage providing premier brokerage services to buyers, sellers, landlords, and tenants.
Pinnacle Announces Sale of 17 Units in Englewood
Robert Lawson, principal, and Chris Knowlton, vice president at Pinnacle Real Estate Advisors, LLC, announced the sale of Sprucewood Apartments located at 3305 S Clarkson Street in Englewood. The 17-unit property sold on June 17th for a contract price of $2,800,000 ($164,706 per unit; $243 per square foot).
The well-positioned, value-add asset sold at a 6.24% Cap Rate with attractive private financing terms. Robert Lawson represented the seller and Chris Knowlton represented the buyer in the transaction.
NorthPeak Commercial Advisors Brokers 6-Unit Multifamily Property in Denver for $1,295,000
NorthPeak Commercial Advisors announced the sale of 1135-1139 Lipan St., Denver.
Kevin Calame and Matt Lewallen of NorthPeak Commercial Advisors worked with the seller in this transaction.
“We had this property listed for six months but ultimately decided to take it off the market, as we weren’t receiving offers at a price the seller was willing to accept,” stated Calame. “A few months later, however, an agent brought back a buyer who had shown interest earlier during the marketing period. The buyer was in a 1031 exchange and felt this property was a strong fit for their needs. The sellers were able to secure a price that worked for them, and the transaction was a positive outcome for all parties involved.”
Highly Visible Retail Suite at 277 N Broadway Leased to Native American Bank
Henry Group Real Estate announced the successful lease of a highly visible retail suite at 277 N Broadway, Unit 1C, Denver. The 2,075-square-foot space has been leased to Native American Bank, a tenant uniquely aligned with the area’s dynamic growth and diverse community.
The landlord was co-represented by Montana Rae of Henry Group Real Estate and Roche Fore of Roche & Company. The tenant was represented by Bobby Bolyard of Kentwood Commercial Real Estate.
Located on one of Broadway’s most prominent blocks, Suite 1C features dual entrances, ADA restrooms, reserved parking, and excellent signage visibility. Its central location offers steady foot traffic, easy access to I-25, and proximity to a mix of residential, retail, and dining options.
This lease marks a strong addition to the evolving Broadway corridor, reinforcing its reputation as a premier destination for businesses seeking visibility and convenience in central Denver.
Marcus & Millichap Capital Corporation Arranges $4M Financing for Colorado Springs Office Property
Marcus & Millichap Capital Corporation (MMCC), a leading provider of commercial real estate capital markets financing solutions, arranged $4,062,500 in financing for a 62,500-square-foot office property located at 3505 Austin Bluffs Parkway in Colorado Springs.
Garrett Fierstein, senior director in MMCC’s Orlando office, secured the financing with a local credit union on behalf of a private client.
Terms of the 10-year loan include a 6.75% interest rate with a 25-year amortization period and a 65% loan-to-value.
