Denver
City Office REIT Inc. to Acquire 197,000-Square-Foot Plaza 25 in Denver
By Gabriel Circiog, Associate Editor City Office REIT Inc. recently announced it has entered into an agreement to acquire Plaza 25 in Denver for a purchase price of $25.1 million. As major conditions to the acquisition have been satisfied, the transaction is expected to close in early June 2014. Located in the Greenwood Plaza submarket […]
Brookfield Office Properties Inc. Sells 50 Percent Stake in Denver’s Tallest Building to MetLife
Brookfield Office Properties Inc. recently announced it has sold a 50 percent stake in the Republic Plaza office building and entered into a 50/50 joint venture partnership with MetLife on the office tower in a transaction valuing the property at $480 million. Net proceeds to Brookfield are around $98 million. Brookfield will retain management and leasing responsibilities at the property.
United Properties Acquires 24 Acres and Expands EBC Development in Stapleton
United Properties recently announced that it will expand its industrial development Enterprise Business Center. The Minneapolis-based developer and investor has acquired an additional 24 acres east of its EBC development from Forest City Stapleton Inc., the master developer for the redevelopment of Stapleton.
Griffis Residential Acquires 288-unit Apartment Community in Aurora for $40.8 Million
Denver-based Griffis Residential recently announced the acquisition of the City Lights apartments. Located in Aurora, Colorado near the Fitzsimons Medical Campus, the Class-A community features 288 units and was purchased for $40.8 million.
Construction Starts on New Charter Technology and Engineering Center
Charter Communications Inc. recently announced that construction has started on the Charter Technology and Engineering Center, a new research and development facility.
HFF Secures Financing for Hudson’s Bay Centre in Denver and Bella Springs in Colorado Springs
HFF recently announced that it has secured $21.5 million in financing for the Hudson’s Bay Centre. Working on behalf of the borrower, a 50/50 partnership between MDC Realty Advisors USA Inc. and Artis REIT, HFF placed the seven-year, 3.76 percent, fixed-rate loan with Principal Real Estate Investors. The loan proceed were used to acquire the Class A, 172,912-square-foot office building.
Cardinal, Capital Solutions Receive Financing for East Denver M-F Community
A joint venture between Cardinal Group Investments and Capital Solutions has secured a 12-year fixed-rate loan for financing for Fairways at Lowry, a 450-unit multi-housing community in the Lowry submarket of Denver.
Northstar Commercial Partners Acquires Former Aurora Medical Pavilion
Northstar Commercial Partners recently announced the acquisition of a four-story building, formerly known as the Aurora Medical Pavilion.
Marriott Hotels Expands in Colorado with 215-Room Denver Marriott Westminster
Etkin Johnson Real Estate Partners and White Lodging Services recently announced the opening of the full-service Denver Marriott Westminster hotel and Tiller’s Kitchen & Bar restaurant in Westminster, Colo.
KTGY Group Inc. Announces Phase III of the Vallagio at Inverness
KTGY Group Inc., Architecture + Planning, recently announced that construction has started on Phase III of the Vallagio at Inverness. The transit-oriented master-planned development is located in southeast metropolitan Denver. Vallagio III, situated on the southeast corner of I-25 and Dry Creek Road, will add a total of 364 new homes to the project.