REIT adds The Muse to Denver apt. holdings

A newly constructed apartment building adjacent to the University of Denver recently sold at a price topping $405,000 per unit. Highlands REIT recently paid $48.7 million, or $405,833 per unit, for the 120-unit apartment community at 2770 S. University Blvd. in Denver. “It is a high-profile location that is going to be pretty strong forever,”…

Jennifer Hayes

December 1, 2019

Where are Denver apartment rents headed in 2020?

Denver continues to be a premier destination for job seekers in this growth cycle, but net migration and total employment growth is decelerating from their peaks set earlier in the cycle.

CREJ

November 22, 2019

Bascom buys Broadway apts. for $90.5M

A longtime player in Colorado’s multifamily market is banking on Broadway. Bascom Northwest Ventures LLC, an affiliate of The Bascom Group LLC, purchased the 1000 South Broadway Apartments, a 260-unit Class A infill community in Denver. The firm paid $90.5 million, or $348,076 per unit, for the community at 1000 S. Broadway. Greystar sold the…

Jennifer Hayes

November 4, 2019

Cheesman Park property sells for $30 million to L.A.-based buyer

A “once-in-a-lifetime” apartment property on Cheesman Park sold for $30 million, or $340,909 per unit. A multifamily office based out of Los Angeles purchased The Park Cheesman Apartments at 1177 Race St. – a property that has maintained the same ownership for the past 42 years, making its sale a once-in-a-lifetime opportunity, according to Greystone…

Jennifer Hayes

October 27, 2019

Turning the Building Boom into a Vibrant, Lasting City

Over the past 25 years, Andy Rockmore has worked on projects that have clearly impacted the city — from pedestrian bridges to schools to the creation of over 6,000 multifamily residential units. Currently, Shears Adkins Rockmore, where Andy is a principal, is leading the design of dozens of buildings and several miles worth of master planning around the Front Range, from Denver International Airport to Mile High Stadium.

Building Dialogue

October 21, 2019

IRET buys Lugano Cherry Creek apts. for $99.25 million

Minneapolis-based IRET acquired the Lugano Cherry Creek apartment community – its latest purchase in the metro Denver market. The real estate company focused on the ownership, management, acquisition, redevelopment and development of apartment communities paid $99.25 million, or $302,591 per unit, for the 328-unit community at 9601 E. Iliff Ave. in Denver. Constructed in 2010,…

Jennifer Hayes

October 20, 2019

7-Eleven sells for more than $1,000 per sf

A private investor picked up a newly built 7-Eleven at a price topping $1,000 per square foot. The buyer paid $3.34 million, or $1,089.48 per sf, for the 7-Eleven net-leased property at 3800 Tower Road, part of the Tower Business Center, in Denver. The build-to-suit for 7-Eleven features a 15-year, triple-net lease. It also has…

Jennifer Hayes

October 13, 2019

Amid warning signs, recession is not imminent

The U.S. economy reached its longest expansion phase in history in July, and Denver arguably has benefitted as much as any metro area in the country. Dubbed 2018’s best economy in the nation,

CREJ

September 22, 2019

QOZ fund, Hines announce plans for North Wynkoop apartments

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…

Jennifer Hayes

July 19, 2019

Holcomb joins Stream Realty Partners

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 […]

Jennifer Hayes

June 30, 2019