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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, 2017

Inland 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, 2017

Broomfield 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, 2017

Prolonged 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, 2017

ColRich 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, 2017

Grand 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, 2017

Oxford Station sells for $60M

The real estate investment company paid $252,101 per unit for the Oxford Station Apartments,

Jolene Wollett

November 13, 2017
Archer Tower

Airbnb: 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, 2017

Construction 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, 2017
Life insurance

Life 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