DENVER — Kevin Wieland has joined Tower Capital as a Senior Vice President. In this role, Wieland will arrange debt and equity capital for investors to acquire, develop, reposition or refinance commercial projects in the Rocky Mountain Region and key West Coast markets. Wieland previously served more than 13 years at LaSalle Investment Management, where he was responsible for originating, sourcing, structuring, underwriting, and closing more than $1.3 billion in debt investments. He also held positions at Wells Fargo, CIM GROUP and Cushman Realty Corp. Wieland received a bachelor’s in …
DENVER — Asset Living has been awarded management of St. Paul Collection, a 165-unit building in Denver’s Cherry Creek North neighborhood, three miles southeast of downtown Denver. St. Paul Collection offers one-, two- and three-bedroom floor plans. Community amenities include a pool with hot tubs and day beds, a lounge, fitness center, sun terrace, bike storage and a coffee bar. Asset Living took over management for the community in March 2023.
DENVER — Apartment Investment and Management Co. (Aimco) has appointed Sherry Rexroad to its board of directors. Rexroad has been appointed to Aimco’s audit, compensation and human resources, investment, nominating and ESG Committees. Rexroad most recently served as Chief Financial Officer of STORE Capital, a publicly traded net-lease REIT. Prior to that, she worked at BlackRock Global Real Asset Securities as global head of business development, as well as co-global chief investment officer and chair of the investment committee.
DENVER — NorthPeak Commercial Advisors brokered the sale of two apartment buildings at 1410 N Marion St. and 1321 E 14th Ave. in Denver. The two properties were acquired by an undisclosed investment group for $10 million. According to Apartments.com, the buildings were built in 1896 and rise three stories. The buyer is planning to renovate all 40 units. Greg Johnson and Conner Piretti represented the buyer and seller in this transaction. The seller, which had owned the property for 40 years prior to the sale, was also not disclosed.
AURORA, COLO. — Bellwether Enterprise Real Estate Capital (BWE) has arranged a $43 million loan for the construction of 15 Sable Apartments, an affordable housing development in Aurora. The total project cost is $56 million. Anthea Martin, senior vice president in BWE’s Denver office, originated the loan through a private placement on behalf of the borrowers, DBG Properties and Featherstone Development. Completion is slated for March 2025. The 154-unit property will contain a mix of one-, two- and three-bedroom floor plans. Units will be reserved for families earning at or …
CASTLE ROCK, COLO. — Continental Properties has sold Springs at Castle Rock to MG Properties, which has rebranded the property Ridge at Castle Rock. The community is located in Castle Rock, which is approximately 35 miles south of Denver. Walker & Dunlop’s Dan Woodward, David Potarf, Matt Barnett and Jake Young represented the seller and arranged a $67.2 million Fannie Mae loan for MG Properties. The 204-unit, townhome-style property was 96 percent occupied when the deal closed on April 13. Units are made up of studios, one-, two- and three-bedroom …
DENVER — Narrate Cos., along with OZ Architecture and general contractor MCP Group, has broken ground on Frameline, a 78-unit development near the Hale neighborhood in Denver. The 100,665-square-foot Frameline will feature a mix of one- and two-bedroom units and amenities that include a dog spa, a fitness center and a community room with an outdoor living space. Design details include a living green wall and elevated gardens. Additional members of the project team include Dig Studio, TRIO, Fortis Structural, ILC Lighting, MDP Engineers and Group 14. The project is …
DENVER — Mortenson and Pinnacle Partners have broken ground on Revival on Platte, an Opportunity Zone project in Denver’s Sun Valley neighborhood. Completion of the 200-unit, eight-story building is estimated to be next year. The project is adjacent to the South Platte River. It will include one- and two-bedroom apartments and two levels of parking. Residents also will have access to eight electric cars via a third-party app. Amenities include a fitness center, a business center and a rooftop amenity deck. The structure will be built with Mortenson’s prefabricated interior …
FOUNTAIN, COLO. — Thompson Thrift will develop The Garrison, a garden-style community in the southern Colorado Springs suburb of Fountain. The development will consist of 336 units across 10 three-story buildings on a 22-acre site. The Garrison offers one-, two- and three-bedroom floor plans, up to 1,369 square feet, with features such as Alexa-compatible smart hubs and property-wide Wi-Fi. Amenities include a clubhouse, resort-style pool, 24-hour fitness center, a community grilling area and a dog park. The Garrison is expected to open in late 2024. Thompson Thrift has built or …
We know Denver’s housing story as it relates to the pandemic: The metro’s high quality of life, access to outdoor amenities and lower prices than other Western mainstays (California) drove demand sky-high for the past three years. With that came an increase in prices — as it always does. The average rent for an apartment in metro Denver was $1,838 in the fourth quarter of 2022, according to research firm Apartment Insights. This is actually a slight decrease from the thirdquarter average of $1,870 per month. Andrew Hamrick, general counsel …