Aurora apartments sell to CBRE Global Investors for $51 million
Arapahoe County Property Location: 10901 E. Garden Drive, Aurora, “Viridian at the Gardens Apts.” Property Description: 227-unit, three-story apt. complex, 209,259 sf, YOC 2014 Land Size: 9.43 acres Sales Price: $51M, or $224,670 per unit, or $243.72 psf (rentable area) Reception No.: D7067246 Grantor: Gardens Development Owner c/o Post Investment Group LLC, Los Angeles, CA 90067,…
John Winslow
July 12, 2017
Labor shortage on tap for CREW panel discussion
The construction labor shortage crisis along the Front Range is poised to get worse. Commercial real estate industry officials anticipate needing about 50,000 more qualified people in the trades during the next year. “That’s pretty significant,” said Karla Nugent, chief business development officer at the Weifield Group. Construction workers last year are shown working on…
Kris Oppermann Stern
July 12, 2017
Aurora apartments fetch $78 million
Adams County Property Location: 17886 E. Greenwood Drive, Aurora, “Stone Cliff Heights Apts.” Property Description: 394-unit, three-story apartment complex, YOC 2001, 313,950 sf, 21 buildings plus clubhouse, 13 with attached garage parking Land Size: 11.68 acres Sales Price: $78M, or $197,970 per unit Reception No.: D7064607 Grantor: Stone Cliff Fee Owner LLC c/o Benedict Canyon Equities,…
John Winslow
July 7, 2017
CBRE: Agency Multifamily Mortgage Production Climbs to $45 Billion Ytd
Fannie Mae’s and Freddie Mac’s combined multifamily mortgage business reached $45 billion for the first five months of 2017, which comes in 14 percent ahead of 2016, according to CBRE Research. May production was almost identical to May 2016. Both agencies anticipate 2017 volume to reach or exceed 2016 numbers, which were $55 to $60…
CREJ
July 6, 2017
Silver Cliff apartments trade for $57.8 million
Arapahoe County Property Location: 5109 S. Delaware St., Englewood Property Description: 312-unit apartment complex, 254,280 sf, YOC 1991 Land Size: 10.83 acres Sales Price: $57.8M, or 5,256 per unit, or 7. (modafinil) 31 per sf Reception No.: D7067313 Grantor: Silver Cliff Apartments, W. Dean Weidner, trustee Grantee: Englewood 312 Owner LLC by: PRG Management, Alex Saunders, mgr.,…
John Winslow
July 6, 2017
‘One-of-a-kind’ Bonterra Lakeside sells for $28.6 million
More than half of the investors looking at Bonterra were new to the market.
Jolene Wollett
July 3, 2017
Colorado Supreme Court repairs defect in construction litigation law
The Denver metropolitan area has faced a historic low in affordable housing, in particular the construction of new condominiums. Construction defect litigation has widely been accepted as a
CREJ
July 3, 2017
Bridge Partners picks up apartments with upside
Bridge Partners of Walnut Creek, California, grew its Colorado holdings with its purchase of the Flats at Creekside Park.
Jolene Wollett
June 30, 2017
Silver Cliff Apts. sell for $57.8 million
Phoenix Realty Group, a national multifamily real estate fund manager, investor, operator and developer, paid $57.8 million for the Silver Cliff Apartments.
Jolene Wollett
June 30, 2017
Separate deals totaling 748 units close for $161 million
Arapahoe County Address or Location: 2205 S. Racine St. & 12775 E. Pacific Drive, Aurora Improvements: 232-unit, three-story apartment, 1985, & 248-unit apartment complex, YOC 1985-1986 (total 480 units, 449,562 sf rentable area) Land Size: 19.467 acres Date of Recording: 6/21 Reception No. : D7069982 Price: $95M, or $197,917 per unit, or $211.32 psf Grantor:…
John Winslow
June 30, 2017
