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Every reporter on our staff has covered Colorado commercial real estate news for more than a decade, through the highs and lows in the commercial real estate cycle.

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Office mansions enjoy renaissance

15 December 2014 | Posted in Office, Denver Market
Historic Denver mansions that have been converted to office use are becoming increasingly desirable as downtown rents rise, for-sale buildings become ever more scarce and more people want to control their own real estate. Pathfinder Partners just sold the historic Grant Street Mansion, which it bought in foreclosure three years ago and boosted from 50 percent to 95 percent occupancy. Although mansions comprise a small, niche market, brokers who deal in such gems of Denver history…

Nationwide goes on the side of light-rail platform

15 December 2014 | Posted in Office, Denver Market
Nationwide Insurance will move its Denver offices next year into 75,000 square feet at One Lincoln Station. The insurance company signed a long-term lease for the first three floors of the building, which is adjacent to the Lincoln light-rail station. It also will occupy a portion of the fourth floor. “I think it’s a testament to the quality of the building and the location,” said Jamie Gard of Newmark Grubb Knight Frank, who represented the owner, Westfield Co…

McWhinney apartment deals bring $170.5M

15 December 2014 | Posted in Multifamily, Denver Market, Northern Colorado
  Loveland-based McWhinney sold a portfolio of Class A, LEED-certified apartment properties in a transaction totaling $170.5 million. The sale to Inland Real Estate comprised 855 units in Loveland and Westminster. It included Lake Vista, a 303-unit community at 2525 Rocky Mountain Ave. in Loveland; the Greens at Van de Water at 2900 Mountain Lion Drive in Loveland; and Arbour Square, a 300-unit property at 14770 Orchard Parkway, in the Orchard Town Center in Westminster. …

Citadel Village sells for $9.58 million

14 December 2014 | Posted in Colorado Springs & Southern Front Range
A syndicate advised by American Capital Realty Partners purchased a submarket-leading apartment community in Colorado Springs for $9.58 million. The buyer paid $78,484 per unit or $86.95 per square foot, for the 122-unit apartment building located at 913 N. Chelton Road. “Citadel Village has always led the Rustic Hills submarket in terms of rent. It has a full amenity package, large units, great visibility and a park-like setting,” said Kevin McKenna of ARA Colorado.…

Greenwood Medical Center sells for $3.9m

14 December 2014 | Posted in Medical/Medical Office
Centum Health Properties and Signature Partners recently paired up to purchase The Greenwood Medical Center – the partnership’s third medical office building acquisition over the past nine months. The local investor group paid $3.9 million for The Greenwood Medical Center, a 42,052-square-foot building at 7180 E. Orchard Road in Centennial. The acquisition of the building follows the purchase of the Two Ponds Medical Building at 9950 W. 80th Ave. in Arvada and the Wa…

Interest rates 2015, a rising tide or calm waters?

14 December 2014 | Posted in
Brock YaffeAssociated director, HFF, Denver At this time last year, the consensus was that long-term rates would continue their ascent and we would see a gradual return to a normalized interest rate environment. The 10-year Treasury at year-end 2013 was 3.03 percent, an increase of approximately 140 basis points from May 1, 2013. The expectation was that 10-year Treasury yields would continue their rise above 3 percent in 2014. However, from Jan. 1 to Oct. 3, 2014, a 59 bps decr…

White Fence Farm sells

13 December 2014 | Posted in Retail, Denver Market
After 41 years under one ownership, the iconic White Fence Farm in Lakewood has been sold.       Restaurant veterans Craig Caldwell and Tom Piercy purchased the family-style farm dinner institution with about 32,000 square feet of buildings on about eight acres at 6263 W. Jewell Ave.       The price wasn’t released, by records show it was purchased for $5.95 million by P&C Family Farms Restaurants LLC.   &nbs…

Apts. near DTC sell for almost $100 million

13 December 2014 | Posted in Multifamily, Denver Market
A Boston based company paid almost $100 million for the Sonoma Resorts at Saddle Rock I and II, one of the latest deals that illustrates the strength of the apartment market near the Tech Center. Records show that Eaton Vance paid $99.87 million for the 604-unit community at 21904 E. Ontario, just off Arapahoe Road, in southeast Aurora. That equates to $165,356 per unit. The sellers were the Bascom Group of Irvine, California and GE Capital Real Estate. Fairfield Residential o…

Oldest Vail hotel gets makeover

13 December 2014 | Posted in Western Slope, Mountain Towns/Gambling Towns, Hospitality
The oldest hotel in Vail completed a renovation of its rooms, corridors and lobby in November, about a month ahead of schedule.      Vail Resorts did not release the cost of the renovation of the Lodge at Vail, a RockResort.       The latest renovation, however, was in addition to almost $1 million it spent on a massive pool renovation, which the ski resort company unveiled in the summer.       The 52-year-ol…

McWhinney, Sage to develop Fort Collins hotel

10 December 2014 | Posted in Denver Market, Northern Colorado, Construction, Design & Engineering, Hospitality, Economic Development
McWhinney, a Colorado-based real estate investment, management and development company, will join Sage Hospitality to develop a new hotel in downtown Fort Collins. McWhinney and Sage Hospitality, with financial support from local investors, including Bohemian Cos., will build the 85,000 square-foot hotel at the former Armadillo restaurant site on Walnut Street.“This hotel will fill a longstanding need for a downtown lodging and meeting facility,” said Matt Robenalt, ex…

WorldRemit chooses Denver for headquarters

9 December 2014 | Posted in Denver Market, Economic Development
London-based financial services firm WorldRemit has selected downtown Denver for its North American headquarters. The company leased 11,126 square feet at 600 17th St., where it will open in January. Several other cites competed for the headquarters facility, which initially will house 100 employees and grow to 218 over the next five years. The Colorado Office of Economic Development & International Trade approved incentives totaling up to $3.4 million. “Denver offer…

ARA being sold for $110 million

1 December 2014 | Posted in Multifamily, Denver Market
BGC Partners Inc., corporate parent of Newmark Grubb Knight Frank, today announced that it has entered into agreements to acquire Apartment Realty Advisors for about $110 million.             ARA is the largest apartment brokerage firm in Denver and the second largest in the U.S., in terms of the dollar volume of apartment communities it has sold in the first half of the year.         …

Why design urban senior living?

1 December 2014 | Posted in Multifamily, Denver Market, Assisted Living/Senior Housing
Glen TiptonPrincipal, SlaterPaull | Hord Coplan Macht, Denver We are seeing an increasing trend toward designing and building senior living communities in more urban areas. Why? A multitude of reasons, including preferences by seniors to be more engaged and less sedentary. Many are opting to live in close proximity to their younger family members and in walking distance to cultural, recreational and social amenities such as restaurants, museums, …

Travelport building lands in hands of Dallas firm

1 December 2014 | Posted in Office, Denver Market
A Dallas company has acquired the Travelport building in Centennial, soon to become one of the few large blocks of available office space in the southeast suburban submarket. With Travelport relocating to Panorama Corporate Center in March, buyer Encore Office will have 136,954 square feet – with a parking ratio of 5.7:1,000 – to lease at 6901 S. Havana St. in Centennial. “It’s become a very high demand type of space requirement in the marketplace,”…

Electrical contractor to light up facility

1 December 2014 | Posted in Industrial, Denver Market, Economic Development
An electrical contractor will light up a 116,363-square-foot manufacturing building that’s been on the market for years. The Northern Group Inc. bought the former Hunter Douglas facility at 1 Hunter Douglas Circle in Thornton for its corporate headquarters and manufacturing plant. It will bring 60 jobs to the building early next year and ramp up to 100 employees within the coming five years. Hunter Douglas sold the property for $7.15 million, according to public records. …

Solarium is first pick for Austin investor

1 December 2014 | Posted in Office, Denver Market
Denver has caught the eye of an Austin, Texas, company, and Solarium is its first asset. CapRidge Partners purchased the 171,189-square-foot southeast suburban office property from Lowe Enterprises Investors for $23.4 million, according to public records. Significant improvements to the property are planned, as are additional acquisitions in the Denver market, according to Steve LeBlanc, who managed $45 billion in private equity and real estate for one of the nation’s large…

Life company or conduit loan - tough decisions

30 November 2014 | Posted in Finance & Appraisal
Peter KeepperManaging principal, Essex Financial Group, Denver The commercial mortgage-backed securities financing industry continued to gain market share in 2014. Several of the CMBS lenders Essex Financial Group has done business with have demonstrated speed of execution, a high level of deliverability and the ability to provide better economics compared with alternative nonrecourse permanent loan sources such as life insurance companies. In addition, several have a wider vari…

Conference panel discusses design trends

30 November 2014 | Posted in Construction, Design & Engineering
Reclaimed wood in restaurants is out, visceral is in in hotels and health care design isn’t about the “wow” factor. These are just a few of the topics spoken of during a panel discussion on design trends at the 2014 Commercial Architecture and Interior Design Conference. The Colorado Real Estate Journal sponsored the conference, which was held in November at the Inverness Hotel & Conference Center in Englewood. “It used to be just food or just the exp…

Denver buyer adds apartments to portfolio

30 November 2014 | Posted in Multifamily, Colorado Springs & Southern Front Range
A Denver-based privately owned real estate firm specializing in property investment and renovation added its first Colorado Springs asset to its portfolio. Radford Investment Properties acquired the Point of View Apartments for $7.13 million, according to public records. The purchase represents not only the first acquisition by Radford in Colorado Springs but also its biggest asset in it portfolio, noted Greg Morris, owner of Radford Investment Properties. Radford currently is i…

CBRE sells Littleton community

29 November 2014 | Posted in Multifamily
The Richardson family of Greeley recently paid $77 million for a transit-oriented apartment community along a light rail line in Littleton.       The family, which made its fortune in the energy business, bought the 350-unit 5151 Downtown Littleton building at 5151 S. Rio Grande St.       The seller was CBRE Global Investors of Boston, which paid $60 million in 2012 to the developer, Trammell Crow Residential.    …