A sought-after pair of valueadd apartment communities sold to a partnership making its first purchase in Colorado Springs. The Bascom Group LLC and an affiliate of The Axton Group acquired the Summer Grove Apartments and Tanglewood Apartment Homes. Summer Grove and Tanglewood were built in 1971 and 1972, respectively, and are located at 3802 and…

Houston-based Hines and Cresset-Diversified QOZ Fund announced plans to build one of the first qualified opportunity zone investments in the Denver area – North Wynkoop. The 10-story apartment community will feature 392 luxury units located at the northern edge of Denver’s River North neighborhood, on a site along Brighton Boulevard just west of AEG’s Mission…

Mike Zoellner of ZF Capital will become chair of the Colorado District Council of the Urban Land Institute. He succeeds Tracy Huggins, executive director of the Denver Urban Renewal Authority, who served in that role since July 1, 2017.    Before forming ZFC in 2017, Zoellner was a founding partner of RedPeak Properties (16 years) […]

A local investor added to its holdings with its acquisition of a retail center in Denver’s “dynamic” Stapleton submarket. The buyer, Park Plaza LLC, purchased the Central Park Plaza property from Central Park Plaza LLC, according to public records. The 17,844-square-foot shopping center at 5096 Central Park Blvd. in Denver sold for $5.1 million, or…

Newmark Knight Frank arranged an $81 million loan for part of BMC Investments’ St. Paul Collection in Cherry Creek North. The fixed-rate loan refinances 255 St. Paul, one of two buildings that comprise the St. Paul Collection. The 255 St. Paul building at 255 St. Paul St. in Denver is a newly developed luxury residential…

Dr. Glenn Mueller won the David Ricardo Medal at the 35th annual meeting of the American Real Estate Society in honor of his major research contributions in real estate market cycles and real estate investment trusts. The Ricardo medal is ARES’ highest recognition of scholarly work in the real estate discipline.  His seminal 1995 article […]

A dual-branded hotel is taking shape in downtown Colorado Springs. Atlanta-based Hotel Equities and an affiliate of Colorado Springs-based Olive Real Estate Group broke ground on the dual-branded SpringHill Suites by Marriott and Element by Westin at 402 S. Tejon St. Owned by the Olive affiliate, the dual-branded hotel will be the first-ever combination of…

Development is ramping up at Clear Creek Crossing, a 110-acre mixed-use project southwest of Interstate 70 and Highway 58 in Wheat Ridge. Evergreen Devco Inc., a national retail and multifamily development company, owns the site, once planned for a Cabela’s store, where current plans include retail, multifamily, hospitality and office uses. “We’re very excited about…

Blake Holcomb joined Stream Realty Partners as managing director of its Denver office. In this new capacity, Holcomb’s primary focus will consist of leasing office properties for both institutional and local property owners. He also will provide other service offerings to his clientele, including tenant representation, site selection analysis, investment sales, strategic planning and ancillary […]

An office/flex property in Longmont was the subject of a $26.3 million bridge loan. Bryan Leonard, senior vice president/managing director of NorthMarq’s San Antonio-based regional office, secured the loan for the Creekside Business Park. The 257,266-square-foot property is located at 1921 Corporate Creek Circle, 1811 Pike Road and 1900 S. Sunset St. NorthMarq arranged financing…