Apartment construction

Are Denver apartments overbuilt?

The Denver-area apartment market, which has benefitted by an unprecedented stretch of rising rents and falling vacancies, may finally be showing signs of falling back to earth. However, no one is predicting the type of apartment bust that followed other boom periods, two experts recently addressed the potential that more supply is being added than…

John Rebchook

January 29, 2016
Villas at Parker.

Tupler, Simon arrange $31 million loan

Eric Tupler and Josh Simon of the Denver office of Holliday Fenoglio Fowler LP recently arranged a $31.2 million acquisition loan for Miami-based Advenir Inc. for its purchase of the 345-unit Villas at Parker. Records indicate Advenir paid $39 million for the community at 1090 S. Parker Drive in Denver. Records show that the seller,…

John Rebchook

January 27, 2016
Rent trends chart

Pre-1990 construction cap rates closing the gap

The vitality and distinctiveness of the Denver economy are driving new businesses and households to relocate to the metro, propelling apartment demand at a rate greater than supply growth. Drawn by the strong job market and high quality of life, new residents boosted population growth in the last year to more than double the national average.

CREJ

January 25, 2016

Westminster Station is NAIOP challenge site

Land Title Guarantee Co. and NAIOP Colorado, the Commercial Real Estate Development Association, will host the 14thannual Rocky Mountain Real Estate Challenge, culminating with the largest real estate event in Colorado Thursday, April 28. The challenge is a premier real estate event featuring students from the University of Colorado and the University of Denver, as…

Jill Jamieson-Nichols

January 6, 2016
Freight

HFF refinances Freight properties

Leon McBroom and Josh Simon of the Denver office of Holliday Fenoglio Fowler, L.P. recently arranged slightly more than $18 million in permanent financing for Freight office building and Freight Residences, an apartment building. Both are anchor buildings in the TAXI community in RiNo. TAXI was developed and owned by Mickey and Kyle Zeppelin, principals…

John Rebchook

January 2, 2016

Questions over construction defect claims

Amy Brimah Managing partner, Brimah LLP, Denver Common-interest communities are governed through boards of homeowners that serve the association. After a certain period of time, the developer must transition the control of the board to homeowners who own units in the project. The city and county of Denver has joined the city of Lakewood and…

Jennifer Hayes

January 1, 2016

Spanos plans Interlocken apartments

Chris Phenicie, was just putting together a package to market a prime piece of real estate in the Interlocken Advanced Technology Park in Broomfield about a year ago, when the call came. Robert Chase of Fuller Real Estate asked Phenicie, a broker with CBRE, if the owner of the 11-acre site, JPI Colorado LP, would…

John Rebchook

December 31, 2015

Continuum buys Market St. Station

Continuum Partners has acquired Market Street Station in downtown Denver. Continuum purchased the property, through an affiliate, from the city of Denver for $14.5 million and will develop Market Station. Current plans call for 90,000 square feet of creative office space, 85,000 sf of retail and approximately 225 apartment units. The $150 million project will…

Jill Jamieson-Nichols

December 21, 2015

Construction defects debate in offing

As municipalities take it upon themselves to find ways to deal with construction defects issues, the debate will return to the Statehouse this session – and at least some legislators are optimistic. “I think the atmosphere is right this year for passage of this bill, whatever it may look like. It won’t be easy,” Sen.…

Jill Jamieson-Nichols

December 15, 2015

Alturas at Bell Tower trades for $9.06M

A newly completed Colorado Springs apartment asset sold to an undisclosed buyer for $9.06 million, or $150,917 per unit. An undisclosed buyer purchased the Alturas at Bell Tower, a 60-unit community at 1130 Bell Tower Heights. Constructed in 2013, the property received a significant amount of attention due to its notable upside in rents, condominium-quality…

Jennifer Hayes

December 13, 2015