New York-based Castle Lanterra snags Westminster apartments for $65 million
Adams County Address or Location: 8300 Sheridan Blvd., Westminster, “Sunset Ridge Townhomes” Improvements: 280-unit apartment with 297,500 rentable sf, YOC 1972, 140 two-bedroom units @ 959 sf & 140 three-bedroom units @ 1,166 sf plus 450 sf basement area, 80% interior renovations over last two years, Land Size: 15.22 acres Density: 18.4 units per acre Date of…
John Winslow
November 27, 2017Inland snags second apartment community within 10 days
Arapahoe County Address or Location: 17036 E. Ohio Ave., Aurora, “Arterra Place Apartments” Improvements: 200-unit apartment community with 191,004 sf, YOC 2014 Land Size: 9.748 acres Date of Recording: 11/02 Reception No: D7126940 Price: $49.25M, or $246,250 per unit, or $257.85 psf Grantor: Santa Ana Court Partners LLC, Borregas Partners, Wolfe Road LLC Grantee: Aurora…
John Winslow
November 23, 2017Broomfield apartments snagged by Inland RE Group for $95 million
Broomfield County Address or Location: 8000 Uptown Ave., Broomfield Improvements: 360-unit apartment community with 328,628 sf, YOC 2015 Land Size: 13.701 acres Date of Recording: 10/27 Reception No. 2017013468 Price: $95M, or $263,889 per unit, or $289.08 psf Grantor: Residences at Dry Creek Valley LLC, Scottsdale, AZ, c/o The Wolff Co Grantee: Broomfield Multifamily DST…
John Winslow
November 22, 2017Prolonged expansion supports calls for optimism
A mathematician, an accountant and an economist apply for the same job. The interviewer asks each of them, “What does one plus one equal?” The mathematician replies, “Two. Exactly two.” The accountant replies,
CREJ
November 20, 2017ColRich adds to Colorado holdings with Canyon Ridge
A private; residential real estate development and investment firm picked up a Denver apartment community at a price of $44.9 million.
Jolene Wollett
November 19, 2017Grand Peaks lands TOD site in Aurora for $3.9 million
Arapahoe County Property Location: SWC East Iliff Ave. & Blackhawk St., Aurora Property Description: Vacant land planned for 320 apartment units plus 12,415-sf retail building and two four-story buildings containing 329,800 sf Land Size: 5.24 acres Sales Price: $3.9M, or $17.09 psf, or $12,188 per buildable unit Reception No.: D7122896 Closing Date: 11/1 Grantor: Fashion…
John Winslow
November 14, 2017Oxford Station sells for $60M
The real estate investment company paid $252,101 per unit for the Oxford Station Apartments,
Jolene Wollett
November 13, 2017Airbnb: The $31 billion gorilla in the room
Revenue generated by the sharing economy totaled $15 billion in 2014, a figure expected to grow to $335 billion by 2025, propelled by exponential growth of Uber and that $31 billion gorilla in the room – Airbnb.
CREJ
November 13, 2017Construction costs not diminishing profits, for now
A persistent gripe in developer circles is the constant upward movement of construction costs. This has been a substantial brake on the fast-moving train of new construction within the Denver market. Steadily rising
CREJ
November 13, 2017Life insurance cos. way to go for MF loans, Keepper says
Life insurance companies increasingly are a better option than Fannie Mae or Freddie Mac for investors buying apartment buildings, according to veteran mortgage banker Peter Keepper. Freddie and Fannie, known as government sponsored enterprises, or GSEs, have been the single biggest lenders for multifamily acquisitions in Denver and across the U.S. in recent years. Keepper…
Kris Oppermann Stern
November 13, 2017