Colorado

MG Properties Acquires Bear Valley Park Apartments in Denver for $76 Million

by Channing Hamilton December 8, 2023

DENVER — MG Properties has purchased Bear Valley Park Apartments, a garden-style community in Denver, from Jackson Square Properties for $76 million. Bear Valley Park Apartments offers units in one- and two-bedroom layouts. Amenities include a pool, fire pit, package lockers, private parking lot with available garages, resident lounge, fitness center and spa. Jordan Robbins and Alex Possick of JLL Capital Markets represented the seller in the deal. Charles Halladay, Rick Salinas, Brandon Smith and Annie Rice of JLL Capital Markets arranged acquisition financing through Fannie Mae on behalf of …

December 8, 2023

Colorado Finance News Western

JLL Capital Markets Arranges $99 Million Refinancing for The Fitzgerald in Denver

by Channing Hamilton November 16, 2023

DENVER — JLL Capital Markets has arranged a $99 million refinancing for The Fitzgerald, a 282-unit property in Denver’s LoDo neighborhood. Charles Halladay, Jordan Angel, Andy Scott, Rob Bova and Ethan Habecker of JLL Capital Markets Debt Advisory secured the floating-rate, three-year loan through Otera Capital. The borrower was Greystar. Built at 1840 Market St. in 2022, The Fitzgerald rises 11 stories and offers studio, one- and two-bedroom units. Units feature stainless steel appliances, quartz countertops, wood-style furniture and an average size of 963 square feet. Amenities include an indoor/outdoor …

November 16, 2023

Retreat at Mountainside in Colorado Springs, Colorado

Colorado Development News Western

Hines, MBK Rental Living to Develop Retreat at Mountainside on 9.7 Acres in Colorado Springs, Colorado

by Channing Hamilton November 10, 2023

Hines and MBK Rental Living are developing Retreat at Mountainside, a 284-unit community in the Briargate neighborhood of Colorado Springs. The property is situated on a 9.7-acre site at the intersection of Briargate Parkway and Powers Boulevard. Retreat at Mountainside offers units in one-, two- and three-bedroom floor plans ranging from 628 to 1,429 square feet in size. Amenities will include a clubhouse with a pool, co-working spaces, a fitness center and dog park. Construction on Retreat at Mountainside is currently underway and slated for completion in 2025.

November 10, 2023

Colorado Investment Sales News Western

Capstone Brokers $1.3 Million Sale of Canyon Retreat Apartments in Colorado Springs, Colorado

by Channing Hamilton November 9, 2023

COLORADO SPRINGS, COLO. — Capstone has negotiated the $1.3 million sale of Canyon Retreat Apartments, a 5,252-square-foot property in Colorado Springs. Adam Riddle and Conor Cavanor of Capstone brokered the deal. The seller is a long-standing client of Capstone and had owned this property since 2015. The buyer was not disclosed. Canyon Retreat Apartments comprises eight units across two buildings, located at 3737 and 3746 Red Canon Place. Units come in studio and one-bedroom floor plans.

November 9, 2023

Residences at Durango in Durango, Colorado

Affordable Housing Colorado Development News Western

TWG to Convert Hotel in Durango, Colorado, Into $35 Million Affordable Housing Community

by Channing Hamilton November 1, 2023

DURANGO, COLO. — TWG will construct Residences at Durango, a $35 million affordable housing complex in the southwestern Colorado city of Durango. The project is an adaptive reuse of a former hotel, which is now set to be converted into 120 apartments. Units will come in studio, one- and two-bedroom floor plans, and will be affordable to tenants earning at or below 30 to 60 percent of the area median income. Amenities will include a business center, exercise facility, laundry facility, playground, picnic area and Wi-Fi connectivity in common areas. …

November 1, 2023

Colorado Investment Sales News Western

MG Properties Purchases 4400 Syracuse Apartments in Denver

by Channing Hamilton October 27, 2023

DENVER — MG Properties has acquired 4400 Syracuse Apartments has acquired 4400 Syracuse Apartments from Morgan Group and LaSalle Investment Management for an undisclosed price. 4400 Syracuse Apartments offers 316 units in Denver’s Denver Tech Center/Southeast Business Corridor. Jordan Robbins and Alex Possick of JLL Capital Markets represented the sellers in the deal. Financing for the transaction was provided by Freddie Mac and arranged by Charles Halladay, Rick Salinas, Brandon Smith and Annie Rice of JLL Capital Markets.

October 27, 2023

Colorado Development Leasing & Marketing News Western

Crescent Communities Opens NOVEL White Fence Farm in Denver

by Channing Hamilton October 18, 2023

DENVER — Crescent Communities has opened NOVEL White Fence Farm, a 202-unit community at 6273 W. Jewell Ave. in Denver’s Lakewood neighborhood. Situated on the site of the former White Fence Farm restaurant, NOVEL White Fence Farm offers amenities such as a restored barn clubhouse, a fitness center, pool, outdoor kitchen, bike storage, work-from-home spaces, pet spa, dog park and a hospitality bar featuring Land of a Thousand Hills coffee. Units come in one- and two-bedroom floor plans across several three- and four-story buildings. The project team includes KTGY, CID …

October 18, 2023

8447-8449 W. Dakota Ave. in Lakewood, Colorado

Colorado Investment Sales News Western

Pinnacle Brokers $2.1 Million Acquisition of Apartment Building in Lakewood, Colorado

by Channing Hamilton September 22, 2023

LAKEWOOD, COLO. — Pinnacle Real Estate Advisors has arranged the purchase of a building located at 8447-8449 W. Dakota Ave. in Lakewood. The eight-unit property traded hands for $2.1 million in an all-cash transaction. Josh Newell, Connor Knutson and Jake Waxter of Pinnacle Real Estate Advisors represented the undisclosed buyer in the deal. The name of the seller was also not released.

September 22, 2023

Colorado Development Finance News Western

JLL Brokers Financing for Kairoi Metro Center in Denver Suburb

by Channing Hamilton September 7, 2023

AURORA, COLO. — JLL Capital Markets has arranged a construction loan and advised on the joint-venture equity placement for the development of Kairoi Metro Center, a 419-unit community in the Denver suburb of Aurora. Leon McBroom, Travis Anderson and Kevin Barron represented the borrower, Kairoi Residential, in securing the six-year, floating-rate loan through a two-bank syndication. Kairoi Metro Center will feature one-, two- and three-bedroom units with an average size of 831 square feet. The property will also include two small urban parks. The project is slated to deliver in …

September 7, 2023

Colorado Investment Sales News Western

Newmark Brokers $1.4 Million Sale of The Meadows at Castle Rock in Castle Rock, Colorado

by Channing Hamilton September 1, 2023

CASTLE ROCK, COLO. — Newmark has arranged the sale of The Meadows at Castle Rock in Castle Rock. Limelight Mob II acquired the asset from Castle Rock Development Co. for $1.4 million. Hook and Cathy Mcdermott of Newmark represented Limelight Mob II, while Connolly Capital represented Castle Rock. The Meadows at Castle Rock includes 98,881 square feet of land.

September 1, 2023

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