Simpson buys two LoDo apartment communities

Denver-based Simpson Housing recently purchased two prized apartment communities in the LoDo/Ballpark neighborhood area of downtown Denver. Simpson Housing beat out numerous other potential buyers and paid $81.9 million, or $362,389 per door, for the 226-unit TwentyOne|01 apartment community at 2010 Market St. As part of the same transaction, Simpson also paid $62 million, or…

John Rebchook

August 1, 2016
Seagate

Seagate buys One Belmar Place

Seagate’s buying spree in the Denver area continues. Seagate Colorado Partners LLC recently paid $46.6 million, or $224,039 per unit, for the 208-unit One Belmar Place apartment community in Lakewood. With this purchase, Seagate now owns more than 1,500 apartment units in the metro area, according to Apartment Insights, the multifamily database owned by Cary…

John Rebchook

August 1, 2016

HFF’s Simon arranges Brighton financing

There was a lot of interest from lenders to provide the construction loan for the 288-unit Elements at Prairie Center apartment community in Brighton, said Josh Simon, a managing director for the Denver office of Holliday Fenoglio Fowler L.P. HFF arranged $39.45 million in construction and preferred equity financing for the development the community, which…

John Rebchook

August 1, 2016

Has the market for shopping centers peaked?

One of the most common questions we hear these days is, “How much longer will this up cycle last?” The current economic expansion has been in effect for 84 months,

CREJ

July 31, 2016

Midyear CRE capital markets update

Interest rates are currently at record lows and acquisition transaction activity appears to be picking up pace due to a combination of factors. The Brexit disruption in the capital markets recently resulted in record-low Treasury and swap rates as global investors sought a flight to safety. However, spreads haven’t widened out by the same margin.

CREJ

July 30, 2016

Political turbulence impacts real estate plans

While the adage “the only thing constant is change” remains true about life, commercial real estate developers and investors crave certainty to make good business decisions.

CREJ

July 30, 2016

Construction starts on Denver’s newest affordable housing community

Denver Mayor Michael B. Hancock and other officials recently celebrated the groundbreaking of Ash Street Affordable Housing LLC, Denver’s newest affordable housing development.

Jennifer Hayes

July 29, 2016
Sunflower Bank

Denver corporate HQ for merged banks

Denver will serve as the corporate headquarters for two merged banking companies, officials said today. Kansas-based Sunflower Financial Inc., which has a presence in Colorado, and Texas-based Strategic Growth Bancorp Inc. today announced they are merging. On a pro forma basis, the combined holding company will be the third largest Colorado headquartered banking institution. Financial…

John Rebchook

July 28, 2016
MorningStar of Arvada

Confluent, MorningStar team up on Arvada senior living facility

Expected to be completed in fall 2017, the 160,000-square-foot development will include 71 independent living and 41 assisted living suites, along with 29 suites devoted to individualized care for persons with memory impairments.

Jill Jamieson-Nichols

July 27, 2016
Comp of the Day handshake image

Texas-based Frassati Catholic Academy acquires former charter school

Adams County Property Location: 3951 Cottonwood Lakes Blvd., Thornton Property Description: 61,454-sf charter school, YOC 2003, 2008, block construction; 36 standard classrooms, 8,946-sf gymnasium, soccer and baseball field, indoor audio included with nine classrooms set up with smart projectors, 750 students maximum Land Size: 7.11 acres Sales Price: $11.7M, or $190.39 per sf Reception No.: 2016000058293…

John Winslow

July 27, 2016