Western Real Estate Business magazine covers the multifamily, retail, office, healthcare, industrial and hospitality sectors in the Western United States.
Issue link: https://westernrealestatebusiness.epubxp.com/i/873170
C A L I F O R N I A & H A WA I I www.REBusinessOnline.com Western Real Estate Business • September 2017 • 37 M O U N TA I N S TAT E S BROOKLYN PARK ROWHOUSES SELLS FOR $27.8 MILLION FORT COLLINS, COLO. — The 105- unit Brooklyn Park Rowhouses in Fort Collins has sold to Granite Capi- tal Group for $27.8 million. The com- munity is located at 2758 Iowa Drive. Brooklyn Park was built between 2007 and 2008. It is fully leased and enjoys a prime location near Harmony Technology Park. Nick and Jacob Steele of Marcus & Millichap represented the seller in this transaction. CBRE GLOBAL INVESTORS FUND BUYS VIRIDIAN AT THE GARDENS ON HAVANA DENVER — A fund advised by CBRE Global Investors has acquired Virid- ian at the Gardens on Havana near Denver for an undisclosed sum. The 227-unit garden-style community is located at 10901 East Garden Drive in Aurora. Viridian is two miles from a light rail station that is scheduled to open later this year. It sits adjacent to the 500,000-square-foot Gardens on Ha- vana Shopping Center. The Class A community is nearly 95 percent occu- pied. OTTER PRODUCTS TO OPEN FIRST RETAIL STORE IN FORT COLLINS FORT COLLINS, COLO. — Otter Products, the company behind Otter- Box phone cases, will soon open Otter Shop, a retail experience in its home- town of Fort Collins. The first OtterBox was created in a Fort Collins garage in the mid-1990s. Since then, OtterBox has grown to be the Number 1 most-trusted brand in smartphone protection. This first and only standalone retail location allows the company to showcase its ever- broadening line of products, beyond the iconic phone cases. In addition to OtterBox cases, mo- bile accessories, coolers and tumblers, the store will feature products from sister brand LifeProof, including the recently released AQUAPHONICS line of ruggedized Bluetooth speak- ers. Visitors will also be able to print custom cases with their own images or select from dozens of unique pat- terns. A section of Otter Shop will be dedicated to highlighting the work of the OtterCares Foundation, a private foundation that encourages kids to be entrepreneurial and philanthropic. Otter Shop will be located at 151 W. Mountain Ave. in downtown Fort Collins. Otter Products LLC provides pre- mium accessories for mobile technol- ogy and outdoor adventures through its OtterBox and LifeProof brands. Ot- terBox is the Number 1-selling smart- phone case in the U.S. LifeProof is the Number 1-selling waterproof case in the U.S. COLORADO MANUFACTURING FACILITY CHANGES HANDS JONSTOWN, COLO. — A 166,000-square-foot industrial facility in Johnstown has sold to a new user for an undisclosed sum. The Class A facility is located at 3600 Ronald Rea- gan Blvd., just outside Loveland. The asset was custom built in 2012 for manufacturing. It features modern finishes, including a 45' ceiling clear height. The existing tenant's eight-year lease was bought out prior to closing. CBRE's Andrew Sandquist, JC Asen- sio and Briggs Goldberg represented the seller, Broadstone Net Lease, in this transaction. LOVE FUNDING SECURES $5.2 MILLION REFINANCING FOR AFFORDABLE COMMUNITY NEAR DENVER BROOMFIELD, COLO. — Love Fund- ing has closed a $5.2 million refinanc- ing for Town Centre Senior Apart- ments, an affordable seniors housing community in the Denver suburb of Broomfield. Town Centre Senior Apartments consists of 88 affordable one-bedroom and two-bedroom units restricted to individuals aged 55 and older. The units are housed within one three- story building originally constructed in 2001 with the assistance of low- income housing tax credits. The prop- erty sits between Boulder and Denver, in the foothills of the Rocky Moun- tains. Love Funding's Jonathan Camps se- cured the financing through the U.S. Department of Housing and Urban Development's 223(f) loan insurance program. The non-recourse financing will pay off two existing loans. Part of the proceeds will be used to complete repairs and fund a reserve account. GATEWAY PARK APARTMENTS IN DENVER SELLS FOR $75.2 MILLION DENVER — The 328-unit Gateway Park Apartments in Denver has sold to Jackson Square Properties for $75.2 million. The community is located at 4255 Kittredge Street, near Interstate 70 and Pena Boulevard in northeast Denver. Community amenities include two swimming pools with sundecks and all-season spas; outdoor dining area with gas grills; private lake with fish- ing and beach; walking and jogging path along the adjacent nature pre- serve; state-of-the-art fitness center, clubhouse with fireplace and kitchen- ette; business center; and community recycling program. The property was 98 percent leased at closing. HFF's Jordan Robbins, Jeff Haag and Anna Stevens represented the seller, a joint venture between Griffis Residen- tial and PCCP, in this transaction. STEADFAST APARTMENT REIT III BUYS BELMAR VILLAS IN DENVER FOR $63.3 MILLION DENVER — Steadfast Apartment REIT III has purchased the 318-unit Belmar Villas in the Denver submar- ket of Lakewood for $63.3 million. The community is located at 700 S. Reed Court. Amenities include two swimming pools with spas, gas barbeque grills and fire pits, basketball court, fitness center, business center and internet cafe, covered parking and a laundry center. Every apartment home in the community features walk-in closets, ceiling fans, central air conditioning, and private balconies or patios. VINTAGE COS. RECEIVES $8.8 MILLION REFINANCING FOR RAMPART VILLAGE CENTER IN COLORADO SPRINGS COLORADO SPRINGS, COLO. — Vintage Companies has received an $8.8 million refinancing for Rampart Village Center, a five-building retail center totaling 96,296 square feet in Colorado Springs. Leon McBroom of HFF worked on behalf of the borrower to place the 10-year, fixed-rate loan with a CMBS lender. Gold's Gym anchors the 93.2 percent leased center. 303.926.2769 www.erieco.gov/economic_development Paula Mehle | pmehle@erieco.gov CON TAC T US 3 Retail Centers Under Development First opened Nov. 2016 anchored by King Soopers. 4 Additional Prime Retail Sites Available Strong traffic counts, available utilities and commercial zoning. Highly Educated 59% of Erie residents are college graduates. $112,000 Average Household Income. Population of 25,000. Income and population growing at a faster rate than the region. Median Age 37 Growing families, young professionals, and active adults are drawn to our panoramic location, scenic trails, championship golf course, recreational activities and over 300 days of sunshine per year. C O L O R A D O L I F E S T Y L E . R O O F T O P S . CUSTOMERS. Time to call Erie, Colorado home for business.