JLL sells value-add deal to Wood Partners
If you want proof that value-add apartment communities continue to be hot investment properties in the Denver area, look no further than the recent sale of the Grove at City Center in Aurora.
John RebchookFebruary 15, 2016
15-story tower planned for La Loma site
L&L Developments Inc. has filed a preliminary site plan with Denver Community Planning and Development for a 15-story, 713-unit multifamily tower on the La Loma Mexican restaurant site in the Jefferson Park neighborhood in Northwest Denver. The developer could not be reached for comment. However, Rafael Espinoza, who not only represents Jefferson Park, but lives…
John RebchookFebruary 4, 2016
Colorado Springs buyer sees value in $28.1 million apartment buy
A Colorado Springs-based buyer continues to expand its portfolio with its $28.1 million acquisition of the Village at Lionstone – a purchase pointing to growing activity in the city’s southeast multifamily submarket. All Pro Capital paid $97,569 per unit to Seagate for the 288-unit gated Village at Lionstone community. “All Pro Capital’s purchase of the…
Jennifer HayesJanuary 29, 2016
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 RebchookJanuary 29, 2016
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 RebchookJanuary 27, 2016
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.
CREJJanuary 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-NicholsJanuary 6, 2016
HFF refinances Freight properties
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John RebchookJanuary 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 HayesJanuary 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 RebchookDecember 31, 2015