German fund buys downtown office building
A downtown office building with a large concentration of oil and gas tenants sold to a Dallas investment adviser for $26 million. Phoenix Property Co. bought 475 Seventeenth Street on behalf of LIC US Growth Fund, a German institutional fund. It was the fund’s first investment. “Our interest in 475 Seventeenth Street was its core…
Kris Oppermann Stern
January 2, 2016Continuum buys Market St. Station
Continuum Partners has acquired Market Street Station in downtown Denver. Continuum purchased the property, through an affiliate, from the city of Denver for $14.5 million and will develop Market Station. Current plans call for 90,000 square feet of creative office space, 85,000 sf of retail and approximately 225 apartment units. The $150 million project will…
Kris Oppermann Stern
December 21, 2015Construction defects debate in offing
As municipalities take it upon themselves to find ways to deal with construction defects issues, the debate will return to the Statehouse this session – and at least some legislators are optimistic. “I think the atmosphere is right this year for passage of this bill, whatever it may look like. It won’t be easy,” Sen.…
Kris Oppermann Stern
December 15, 2015
MIG picks up Dry Creek Business Park
A large, high-quality flex development in Denver’s southeast industrial submarket sold for $27.75 million, or $113.72 per square foot. MIG Real Estate purchased Dry Creek Business Park, a 244,028-sf property at 7300-7348 S. Alton Way in Centennial from Greenfield Partners. The park consists of 15 buildings that are 93 percent leased to roughly 90 tenants.…
Kris Oppermann Stern
December 14, 2015
Inverness Hotel a premier addition
Silverwest Hotels LLC’s growing list of hotels now includes a premier property in its own backyard. Silverwest’s multimillion-dollar acquisition of the Inverness Hotel and Conference Center, on behalf of Silverwest Hotel Fund(s) I/IA, represents the Denver-based company’s first asset in the Denver metro area. “To have an anchor asset like the Inverness to add to…
Kris Oppermann Stern
December 14, 2015
Community room hit in Natural Grocers
When Natural Grocers opens a new store, neighbors often cheer that they have access to fresh organic foods that is it famous for selling.In addition its fresh food, all of its new stores, and recently remodeled ones, have something else ⎯ community rooms. In addition its fresh food, all of its new stores, and recently…
Kris Oppermann Stern
December 13, 2015Gelt enters Denver market
In April 2014, California-based TruAmerica made its first apartment community acquisition in Denver by paying $55 million for the 564-unit Tamarac apartment community. Recently, TruAmerica sold the community on a 25.16-acre site at 3300 S. Tamarac Drive to another California company, Gelt Inc., for $74 million. It also was Gelt’s first purchase in Denver. The…
Kris Oppermann Stern
December 13, 2015Embassy Suites sets record price per key
CWI 2 acquired the Embassy Suites Denver - Downtown/Convention Center hotel, an institutional-quality, full-service property with 403 suites situated in one of the top five U.S. lodging markets by RevPAR growth. (PRNewsFoto/Carey Watermark Investors 2) The Embassy Suites by Hilton hotel across from the Colorado Convention Center eclipsed Denver’s previous record price per key with…
Kris Oppermann Stern
November 30, 2015
