One330 Apartments fetch $37.1M in off-market deal

A newly built multifamily community in Colorado Springs sold to an Atlanta-based buyer for $37.1 million, or $249,000 per unit. Cortland Partners purchased One330 Apartments at 1330 Kelly Johnson Blvd. in an off-market transaction. The 149-unit community was in lease-up at the time of sale. “One330 is situated in a well-established area of central Colorado…

Jennifer Hayes

January 19, 2020

Fox Crossing community sells for $32.25 million

An investment firm that acquires, owns, renovates and operates affordable, workforce and value-oriented apartment communities across the U.S. made a $34.25 million purchase in Denver. Avanath, according to public records, purchased Fox Crossing, a 220-unit affordable housing community at 8350 E. Yale Ave. It purchased the community from Legacy Partners. Dan Woodward, David Potarf and…

Jennifer Hayes

January 13, 2020

Advenir at Spring Canyon apts. sell for $69.3 million

A new buyer to the Colorado Springs market purchased the Advenir at Spring Canyon apartment community at record pricing. Benedict Canyon Equities paid $69.3 million, according to public records, for the 292-unit community at 4510 Spring Canyon Heights. At $237,329 per unit, the price appears to be a record per-unit price paid for 1990s product…

Jennifer Hayes

January 6, 2020

Tenzing trades for $96.6 million to CBRE-sponsored fund

A newly built Westminster multifamily community recently sold for $96.6 million, according to public records. A fund sponsored by CBRE Global Investors acquired The Tenzing, a 320-unit community at 11674 N. Pecos St., from a joint venture between Holland Partner Group and Principal Real Estate Investors. The acquisition of The Tenzing, built in 2018, is…

Jennifer Hayes

December 22, 2019

Grand Peaks, Aegon acquire Monaco South

Grand Peaks added a “family” asset to its portfolio with its recent southeast Denver acquisition. The Denver-headquartered firm, in partnership with Aegon Asset Management, paid $36 million, or $163,636 per unit, for Monaco South, a 220-unit community at 2280 S. Monaco Parkway in Denver. “Monaco South offered investors the opportunity to acquire an asset with…

Jennifer Hayes

December 15, 2019

Parc Mosaic: Luxury Apartment Living that is Perfectly Boulder

A collaboration between Tryba Architects, Millender White and Aimco, when completed next month Parc Mosaic will feature 226 units – studio to three-bedroom – in four buildings spread across a parklike patchwork of gardens and green spaces.

Building Dialogue

December 9, 2019

Colorado Springs enjoys a downtown revival

You’ve seen it in Denver – now it is happening in downtown Colorado Springs. An international attraction is opening soon, the U.S. Olympic Museum and Hall of Fame. A new downtown

CREJ

December 9, 2019

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
The Flats at the Oval

Public-private partnerships provide project options

Adapt or die. It’s as true of real estate development as it is in nature. That phrase has been repeated in various forms by authors, researchers, business coaches and, let’s not forget,

CREJ

November 25, 2019

Gelt grows portfolio with Timber Lodge buy

Los Angeles-based real estate investment and asset management firm Gelt Inc. grew its Denver holdings with its purchase of a niche product in the market. Gelt paid $61 million for Timber Lodge, a 390-unit, value-add, affordable apartment community at 1769 Coronado Parkway in Thornton. “With the market unable to add new units that can charge…

Jennifer Hayes

November 24, 2019