Newmark Arranges $24.5M Refinancing for Lakewood Apartments
Newmark arranged a $24.5 million refinancing for The Heights by Marston Lake, a 220-unit garden-style multifamily community in Lakewood. The financing was secured on behalf of Urban Inc.
Newmark Executive Managing Directors Vincent Punzi and Lowell Takahashi originated the 10-year, fixed-rate Fannie Mae loan, which features full-term interest-only payments and a rate of 6.23%.
“The Heights by Marston Lake exemplifies the type of well-located, high-performing workforce housing asset that continues to attract strong lender interest,” saidTakahashi. “By leveraging Fannie Mae’s capabilities and working collaboratively throughout the process, we delivered a financing solution that aligned with the borrower’s long-term objectives.”
Built in 1996, The Heights by Marston Lake comprises 11 residential buildings and a clubhouse, offering one-, two- and three-bedroom residences averaging approximately 988 square feet. Community amenities include a swimming pool, fitness center, resident lounge, dog park, playground and barbecue area. The property was 98% occupied at closing and includes affordable units for residents earning at or below 50% of Area Median Income (AMI).
Colliers Denver Completes Sale of 4001 Holly St. in Denver
Colliers Denver Investment Services Group announced the successful sale of 4001 Holly Street, a 53,740-square-foot multi-tenant industrial building on 2.45 acres in Denver’s North Central submarket, minutes from the I-70 and Holly Street interchange.
The Property sold for $8,500,000 and was 100% leased to three tenants at closing. The building is demised into five small-bay units, each with dock-high and drive-in loading, and includes a fenced, gated, paved and lighted outdoor storage yard.
The Colliers Denver brokerage team of T.J. Smith, Nick Rice and Brad Calbert advised the seller.
“We were pleased to represent DMS Real Estate in the sale of 4001 Holly Street. This 53,740-square-foot, 100% leased industrial building sits minutes from the I-70 and Holly Street interchange, and we congratulate Watumull Properties Corporation on the acquisition. This asset has the rare combination of 20’+ clear heights in small bay spaces that are supply-constrained in the market. We were grateful for a good outcome for both parties,” said Nick Rice.
Pinnacle Announces $1.64M Sale of Arvada Office Building
Pinnacle Real Estate Advisors, LLC announced the sale of an 11,010-square-foot office building located at 5275 Marshall Street in Arvada for $1,640,000.
Cody Stambaugh and Liz Morgan, vice presidents, represented the Buyer, FWI Property Partners, LLC, in the transaction.
“We were pleased to assist FWI Property Partners in the acquisition of 5275 Marshall Street. The property has been completely renovated and is in excellent condition, making it an ideal long-term headquarters for FWI Legal, a personal injury law firm, which plans to occupy the building by the end of the year. Despite a challenging debt market, we were able to secure favorable financing for the acquisition. We are excited for FWI Legal to make this property its home for years to come,” stated Stambaugh.
Marcus & Millichap Arranges $3.1M Sale of IOS Property in Colorado Springs
Marcus & Millichap announced the sale of a 3.61-acre industrial outdoor storage property occupied by The CDL Schools for $3.1 million. The property attracted multiple offers and sold for 97% of its listing price.
“Low-coverage industrial outdoor storage sites are difficult to find in established commercial corridors, and this property offered investors a combination of usable land and an established tenant,” said Cory Gross, managing director investments. “The CDL Schools took occupancy earlier this year and invested in approximately an acre of paved training space. That commitment, along with the site’s location near North Powers Boulevard, helped generate competitive interest and ultimately an all-cash closing.”
Gross, an investment specialist in Marcus & Millichap’s Denver office, exclusively marketed the property on behalf of the seller, Conrad IOS LLC. The buyer was Tuffli Company.
Located at 777 Conrad St., near North Powers Boulevard and U.S. Highway 24, the property includes a 3,600-square-foot building constructed in 1998 on 3.61 acres. The CDL Schools, a commercial driver training operator, occupies the site under a five-year triple-net lease with a corporate guarantee and a five-year renewal option. The tenant began operating at the facility in early 2026.
NorthPeak Commercial Advisors Brokers 6-Unit Multifamily Property in Denver, CO for $1,200,000
NorthPeak Commercial Advisors announced the sale of 3251-3263 Olive St., Denver, 80207.
Jack Sherman and Hunter Schaefer of NorthPeak Commercial Advisors worked with the seller in this transaction.
“Our client was pleased to get this property sold in a challenging environment,” stated Sherman. “We priced it to meet the market on day one, which put us under contract within 48 hours and led to a smooth closing instead of chasing the market down.”
