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COLORADO REAL ESTATE JOURNAL

— January 21-February 3, 2015

First American Title

National Commercial Services

©2015 First American Financial Corporation and/or its affiliates. All rights reserved.

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NYSE: FAF

303.876.1112

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First American Title Insurance Company, and the operating divisions thereof, make no express or implied warranty respecting

the information presented and assume no responsibility for errors or omissions. First American, the eagle logo, First American Title,

and firstam.com are registered trademarks or trademarks of First American Financial Corporation and/or its affiliates.

It is with great pleasure First American Title Insurance Company – National Commercial Services

announces the following employees’ expanded roles and responsibilities within our company:

Lauri Craft, Support Services Manager

Jessie Lampin, Production Manager

R. Kristofer Claps, Associate Underwriter

Ernest Shively, Commercial Title Assistant

Thank y u f r your continu d d dication and determination. Great job!

It is with great pleasure First American Title Insurance Company – National Commercial Services

announces the following employees’ expanded roles nd responsibilities within our company:

Lauri Craft, Support Services Manager

Jessie Lampin, Production Manager

R. Kristofer Claps, Associate Underwriter

Ernest Shively, Commercial Title Assistant

It is with great pleasure First American Title Insurance Company – National Commercial Services

announces the following employees’ expanded roles and responsibilities within our company:

Lauri Craft, Support Services Manager

Jessie Lampin, Production Manager

R. Kristofer Claps, Associate Underwriter

Ernest Shively, Commercial Title Assistant

It is with great pleasure First American Title Insurance Company – National Commercial Services

announces the following employees’ expanded roles and responsibilities within our company:

Lau i Craft, Su port rvices Manager

Jessie Lampin, Production Manager

R. Kristofer Claps, Associ te Underwr ter

Ernest Shively, Commercial Title Assistant

Thank you for your continued dedication and determination. Great job!

Lauri Craft

Support Services Manager

R. Kristofer Claps

Associate Underwriter

Jessie Lampin

Production Manager

Ernest Shively

Commercial Title Assistant

is excited to announce the expanded roles and responsibilities

of talented servi e team memb rs in Colorado.

We recog ize their skill and d dication.

Greater Denver

by John Rebchook

Dr. W.L. Asher runs a weight

loss clinic in Littleton.

But through his Asher Invest-

ments, he also has been an avid

investor in apartments in the Den-

ver metro area since the 1970s.

Late last year, Asher Invest-

ments purchased the 297-unit

Alta Harvest Station from its

developer, Wood Partners, for

just under $64.5 million. The sales

price for the community at 11775

Wadsworth Blvd. in Broomfield

equates to $217,000 per unit.

“I’m not sure if this was his big-

gest transaction ever, but it was

pretty big for him,” said David

Potarf, who listed and marketed

the property with fellow CBRE

team members Dan Woodward

and Matt Barnett.

Asher, who could not be

reached for comment by press

time, beat out a number of other

buyers for the 13-building Alta

Vista community, which opened

in early 2014.

“We had a dozen or so offers for

Alta Vista,” Potarf said.

“A number of institutional

investors were extremely inter-

ested in buying it,” he said.

Prospective buyers really liked

its location and the quality of con-

struction, he added.

“Dr. Asher was competing

against a lot of institutional inves-

tors,” Potarf said.

“He really knows and under-

stands that market, so I think it

being in his backyard, so to speak,

he really knows its potential,”

Potarf said.

“AltaHarvest Station represents

a great collaboration with the

city of Broomfield, who worked

closely with us to rezone the site

to allow multifamily housing,”

said David Jaudes, development

associate at Wood Partners. “The

project is also adjacent to the U.S.

36 Bus Rapid Transit, an impor-

tant component of FasTracks often

overlooked.”

Potarf noted that it is close to

many high-tech firms in the Inter-

locken business park in Broom-

field and is midway between

Boulder and downtown Denver.

The community has 283,175

square feet of space.

Wood Partners understood the

importance of the site when it ear-

marked it for development.

“Our primary goal for this new

multifamilycommunity is toserve

the nearby Interlocken/Broom-

field business hub, where recent

job growth has been strong,”

director Tim McEntee, who han-

dles all Wood Partners’ develop-

ments in the Rocky Mountain

area, said when Wood Partners

announced the community.

Alta Harvest Station has 175

one-bedroom units, 107 two-bed-

room units and 15 three-bedroom

units. The average size of a unit

is 940 sf.

It was designed by the Dallas-

based architectural firm of Wom-

ack + Hampton.

s

Asher pays $64.5 million for Alta Harvest Station

Asher Investments bought Alta Harvest Station.

will have building signage that

announces its presence to peo-

ple heading into the city from

the airport.

Prologis, a global distribu-

tion facilities provider, leased

the building to Kärcher.

“We are pleased to lease this

prime office building to Kärch-

er. We share a similar interna-

tional focus, so it’s easy to see

why a company like Kärcher

would be drawn to this state-

of-the-art space and want

to use it as their new North

American headquarters,” said

Wayne Barrett, Prologis vice

president and market officer.

Prologis said it wasn’t fully

utilizing the space, so it made

more sense to put it on the mar-

ket. Kärcher signed a 10-year

lease and will move its 148

local employees into the build-

ing in April. The company cur-

rently is housed in a signifi-

cantly smaller space at 750 W.

Hampden Ave. in Englewood.

Kärcher has been growing in

Denver and needed to expand

out of its existing space, accord-

ing to Valarie Johnson, Kärcher

communications manager. “We

needed to grow in order to

accommodate our company’s

growth. We also were looking

for something that was more

reflective of the type of com-

pany we are in terms of inno-

vation and sophistication and

to have that kind of an image

when we deal with clients and

people who are coming here

from all over the world when

we have our board meetings,”

she said.

Kärcher is one of the world’s

largest manufacturers and pro-

viders of floor care cleaning

equipment and services for

the industrial, commercial and

residential markets. Its expan-

sion is symbolic of growth of

manufacturing companies in

Colorado, said Johnson.

“I think it speaks volumes in

terms of what is happening in

the growth of manufacturing

and how that contributes to the

Colorado economy,” she said.

JLL brokers Joe Heath, Andy

Ross and Don Misner repre-

sented Prologis in the lease

transaction. Andy Cullen and

Tim Bourdelais, also of JLL,

represented Kärcher.

The four-story building has a

fitness facility, conference and

employee dining facilities, a

grand lobby with granite floors

and an outdoor plaza with seat-

ing and a water feature.

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Kärcher Continued from Page 1