Developers report delays in permitting, starts
COVID-19 has disrupted the commercial real estate industry in more ways than we can count. Some of those changes have been positive, such as accelerating the industry’s embrace of virtual leasing. Others, however,
CREJ
August 10, 2020Denver’s decade-long rent growth ends in second quarter
For the first time in more than a decade, the Denver apartment market saw declining year-over-year rent growth, according to the Apartment Association of Metro Denver’s quarterly Denver Metro Area Apartment Vacancy and Rent Survey. The second-quarter survey, conducted by the University of Denver’s Daniels College of Business and Colorado Economic Management Associates, noted that compared to second-quarter 2019, average rent decreased to $1,506 per month, a $30 monthly decrease and a $360 annual decrease. This represents an inflation-adjusted 2.1% decrease in rents. The last time rents were lower than the period 12 months earlier was in the first quarter of 2010.
Jolene Wollett
August 3, 2020Upcoming Colorado evictions: The sky is not falling
With millions of dollars in federal COVID-19 relief grant funds at stake and widespread unease about the economic impact of virus-related restrictions, political profiteers, clever enough to form a nonprofit corporation
CREJ
August 3, 2020COVID-19 affects multihousing pricing, underwriting
Like so many real estate professionals, my days during this COVID-19 pandemic have been filled with more conference calls than I’m even able to count. Understandably, everyone is searching for real-time information
CREJ
August 3, 2020Mixed-use Boulder property sells to local investor for $2.95M
A multitenant, mixed-use property in downtown Boulder sold for $2.95 million. Prospect Investments LLC, a Denver-based real estate investment firm, purchased the two-story, 9,700-square-foot property at 1110 13th St. from […]
Kris Oppermann Stern
July 26, 2020Solana Stapleton brings 280 luxury rental apartments to northeast Denver area
ReyLenn Properties completed Solana Stapleton, a new luxury rental community in Stapleton. The community is the first market-rate rental community developed by a third party in the master-planned Stapleton community.
Kris Oppermann Stern
July 19, 2020The Opus Group, Principal begin building 1919 Mile High Apartments
The Opus Group and joint venture partner Principal Real Estate Investors began construction on 1919 Mile High Apartments, a new multifamily development near Empower Field at Mile High. The 277-unit building will offer a range of studio, one-bedroom and two-bedroom options.
Kris Oppermann Stern
July 12, 2020Colo. apt. vacancy rate remains virtually the same as first quarter
The Colorado Apartment Association reported that the current vacancy rate for Colorado rental properties is 6% – virtually the same as the first quarter Denver Metro Area Apartment Vacancy and […]
Jolene Wollett
July 5, 2020West Englewood apartment complex secures refinancing
Walker & Dunlop, a national commercial real estate finance and lending institution, arranged a $46.65 million refinance loan for a 272-unit Englewood apartment complex. Walker & Dunlop’s Jay Thomas worked […]
Kris Oppermann Stern
June 29, 2020Taylor Kohrs completes Indy Street Flats for Metro West Housing Solutions
Taylor Kohrs recently completed construction of Indy Street Flats, a 110,848-square-foot apartment community in Lakewood. Completed over the course of four years, the $23.5 million project was designed by Shopworks Architecture to meet owner Metro West Housing Solutions’ vision of paying tribute to the historic and vibrant nature of the community.
Kris Oppermann Stern
June 14, 2020