Western Real Estate Business

SEP 2018

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/1027244

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Page 42 of 82

C A L I F O R N I A 40 • September 2018 • Western Real Estate Business www.REBusinessOnline.com M O U N TA I N S TAT E S NAVPOINT REAL ESTATE NEGOTIATES $6.5 MILLION SALE OF MIXED-USE PROPERTY BOULDER, COLO. — NavPoint Real Estate Group has arranged the sale of a multi-tenant retail/medical office property located at 3280-3300 28th St. in Boulder. REM Investment sold the property to Peterman Properties for $6.5 million. The property features 39,368 square feet of retail and medi- cal office space. John Witt and Matt Call of NavPoint Real Estate Group represented the seller in the deal. REDPEAK PROPERTIES, ALLSTATE INVESTMENTS SELL MIXED-USE PROPERTY IN DOWNTOWN DENVER DENVER — A joint venture between RedPeak Properties and Allstate In- vestments has sold 1600 Glenarm Place, a mixed-use, high-rise prop- erty located on the 16th Street Mall in downtown Denver. Northland Investment Corp. acquired the prop- erty, along with a 0.77-acre land par- cel at 14th Street and Glenarm Place, for an undisclosed price. Constructed in 1967 as an office tower known as the Security Life Building, the prop- erty was converted into a multifamily property in 2006 by RedPeak Proper- ties. The 31-story building features 333 apartments in studio, one-bedroom, two-bedroom and penthouse layouts, and 29,000 square feet of commercial space, including frontage along Den- ver's 16th Street pedestrian mall. On- site amenities include an outdoor ter- race with barbecue grills and fireplace, fitness center, demonstration kitchen, cyber lounge, conference room, movie theater, game room, resident library, reading room, valet parking, 24-hour concierge service and room service from Earl's Restaurant on the proper- ty's ground floor. Jordan Robbins, Jeff Haag and Anna Stevens of HFF rep- resented the seller in the transaction. PINNACLE NEGOTIATES $2.8 MILLION SALE OF MULTIFAMILY PROPERTY WHEAT RIDGE, COLO. — Pinnacle Real Estate Advisors has arranged the sale of a multifamily property located at 6050-6054 W. 38th Ave. in Wheat Ridge, a western suburb of Denver. A local buyer acquired the asset for $2.8 million, or $149.55 per square foot. The asset includes a 19-unit multifam- ily building and 27 garages/storage units. Josh Newell of Pinnacle Real Estate represented the buyer and un- disclosed seller in the deal. CapitalSource is a division of Pacific Western Bank, Member FDIC. This is not a commitment to lend. All offers of credit are subject to credit approval. As a national lender, we listen to your bridge and construction plans and smartly structure loans that are flexible and creative to help you meet your goals. Whether you plan to simply lease up your project, complete a major renovation, or build from the ground up, we will deliver the flexibility that your company needs to fuel your future. READY TO GROW? For more information, visit capitalsource.com/cref0818 A LENDING PARTNER WHO LISTENS. Creativity and flexibility to fuel your future. Retail Senior Bridge Loan $10,400,000 New York, NY Office Senior Bridge Loan $54,000,000 Dallas, TX Multifamily Senior Construction Loan $117,000,000 Los Angeles, CA Hospitality Senior Construction Loan $150,000,000 New York, NY Multifamily Senior Construction Loan $68,800,000 Atlanta, GA Peterman Properties purchased the 39,368-square-foot retail and medical office property, located at 3280-3300 28th St. in Boulder, for $6.5 million. Are you receiving our twice-weekly e-newsletter? Visit rebusinessonline.com/magazines/ western-real-estate-business/ to subscribe

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