FPA Multifamily buys Fort Collins apartments for $68.5M
A San Francisco-based real estate investment firm acquired an assortment of apartment units in Fort Collins for $68.5 million, or $149,237 per unit. FPA Multifamily LLC bought 459 units of both student housing and conventional apartments. Summit Management Services sold the assets, which include Campus Flats @ Ram’s Crossing/Ram’s Crossing @ Campus, The Lofts @…
Jill Jamieson-NicholsMay 31, 2019
Cedar Run community sells for $62 million
A Los Angeles-based real estate investment and asset management firm added to its Denver portfolio with its purchase of the Cedar Run Apartments in one of the largest recent multifamily transactions in the Lowry submarket. Gelt Inc. paid $62 million, or $161,500 per unit, for the 384-unit community at 888 S. Oneida St., west of…
Jennifer HayesMay 31, 2019
Hyder Construction breaks ground on The Hooper in Five Points
Hyder Construction last month broke ground on The Hooper, a nine-story, mixed-use project located at 2600 Welton St. in Denver’s historic Five Points neighborhood.Palisade Partners is developing the project, which is adjacent to the Rossonian Hotel.
Kris Oppermann SternMay 31, 2019
Safari Club Apartments in Denver trade for $16.8 million
RedPeak Properties picked up an “iconic” Denver apartment building at a near record-setting price. The Denver-based firm, which acquires, develops and manages apartments in Denver and along the Front Range, paid $16.8 million all cash for the Safari Club Apartments. The 66-unit building at 990 S. Logan St. in Denver sold for $254,545 per unit…
Jennifer HayesMay 24, 2019
Pando Holdings, GH Phipps break ground on 135 Adams project
GH Phipps recently broke ground on 135 Adams, a fivestory micro-apartment building. Designed by Saiber Saiber for Pando Holdings, the development will include 37 units, which are approximately 300 to 800 square feet.
Kris Oppermann SternMay 17, 2019
Small-balance loans bring big benefits to owners
On March 26, Gary Ghiselli closed on refinancing Forest Street, the 24-unit property he has owned for several years. Leveraging a rally in the U.S. Treasury rates, he locked in a 4.09 percent fixed rate for 12
CREJMay 17, 2019
How multifamily models are evolving
The apartment landscape in metro Denver has changed tremendously over the past decade. Construction of new multifamily assets has added 58,000 units of inventory to the market since 2010.
CREJMay 13, 2019
How local growth restrictions impact affordability
Bob Dylan’s “The Times They Are a-Changin’” title track is not only the most powerful pre-electric album, but also it is the perfect anthem for today’s metro Denver – the population is exploding,
CREJMay 12, 2019
Handling tenant requests for assistance animals
Landlords, owners’ associations and property managers across Colorado have been experiencing an increase in requests for accommodations for assistance animals – either a traditional “service animal”
CREJMay 12, 2019
Find Stability in MF Development: Take Long-Term Investment Approach
If one thing is certain in today’s unpredictable development market, it’s that nothing is certain. Tariffs, fluctuating interest rates, labor shortages and rising costs all have contributed to one of the more volatile markets in recent memory.
Building DialogueApril 22, 2019