Page 42 —
COLORADO REAL ESTATE JOURNAL
— January 6-January 19, 2016
As part of its efforts to build a
full-service capital markets team
in the RockyMountain region,
JLL
Capital Markets hired
Baxter Fain
as a managing director.
Fain has more than 20 years of
commercial
real estate
finance experi-
ence and is
taskedwith
securing debt
and equity
for all prop-
erty types,
including
office, retail,
industrial,
hotel, multifamily and self-storage
financing.
Fain came to the firm from
Sunflower Bank, where he was a
senior vice president and regional
president. Prior to that he was a
managing partner at Trinity One
Group. He also spent nearly five
years at a global commercial real
estate firm. Fain began his career
at Goldman Sachs, handling loan
originations and underwriting for
theMidwest region. He earned his
bachelor’s degree in finance from
SouthernMethodist University.
s
Greg Hundley
joined national
health care real
estate devel-
oper
NexCore
Group
as
executive vice
president and
general coun-
sel.
In his new
role, Hundley
is responsible
for all legal
matters related to the develop-
ment, construction, ownership,
leasing, management, conversion,
financing and acquisition of the
company’s health care real estate
portfolio.
Hundley has more than 18
years of experience in commercial
real estate and corporate matters,
11 of which have been focused
on health care real estate devel-
opment. He formerly served
as vice president and assistant
general counsel with Lend Lease
Healthcare Development LLC in
Nashville.
Hundley has expertise nego-
tiating and closing complex,
multiparty transactions; financing
projects through various govern-
mental and private-sector debt
and equity sources; overseeing
the details of large-scale health
care real estate projects; drafting/
negotiating related transaction
documentation and business
agreements; managing acquisi-
tions, dispositions andmergers;
overseeing commercial mortgage
financing; implementing and
managing joint ventures and
partnerships; overseeing property
and infrastructure development;
and handling commercial leasing,
loanworkouts and litigationwith
respect to transactions totaling
approximately $3 billion.
Hundley received a Bachelor of
Science in business administration
fromThe Ohio State University
and aMaster of BusinessAdmin-
istration and Juris Doctor from
Southern Illinois University.
s
Lindsey A.L. Diedrich
joined
law firm
Otten Johnson Robin-
son Neff + Ragonetti PC
as an
associate.
Diedrich received her Juris Doc-
tor from the University of Iowa
College of
Law and her
undergraduate
degree from
the University
of Iowa. She
concentrates
her practice
in real estate
law, with a
focus on sales,
acquisitions,
development
and real estate finance.
She has represented buyers,
sellers, developers, landlords and
tenants in a variety of real estate
transactions. She is a member
of the firm’s real estate and real
estate finance practice groups.
s
Bob Ambrosius
joined
API
Sheldon-Gold Realty Inc. Com-
mercial Real Estate Services
as
senior adviser.
He most recently was with
Cresa Partners and brings 35 years
of experience in office leasing and
tenant representation to the com-
mercial real estate firm.
Ambrosius’ focus startedwith
the southeast
suburbanmar-
ket and busi-
ness parks,
including
Denver Tech
Center, Green-
wood Plaza,
Inverness,
Panorama
Park and
Meridian,
and branched into the downtown
market, when he took an assign-
ment at the Tabor Center and
leased the property to 100 percent
occupancy.
At API Sheldon-Gold Realty,
he will focus on expanding his
service offerings to his clients to
include user purchases of office
buildings as well as leasing.
s
Colorado Enterprise Fund
appointed three newmembers
to its board of directors:
Haroun
Cowans,
executive director of
Impact Empowerment Group,
Heidi Ganahl,
CEO of Camp Bow
Wow, and
Jay Spader,
an attor-
ney at BrownsteinHyatt Farber
Schreck LLP.
CEF provides loans up to
$500,000 to small businesses and
start-ups unable to secure tradi-
tional financing. CEF has loaned
more than $46 million since 1990
to nearly 1,700 businesses.
s
Chris Peter
rejoined
The Lara-
mar Group,
a national real estate
investment andmanagement
company, as the regional vice
president of operations over the
firm’sWestern region. Peter will
be based in Laramar’s Denver cor-
porate office.
Peter has over 15 years of indus-
try experience and is returning to
Laramar after four years as man-
aging director for Equity Residen-
tial in the San Francisco BayArea.
Prior to working for Equity Resi-
dential, Peter was a general man-
ager for the Laramar Group in the
BayArea, managing a complex
portfolio of REO/bank-owned
assets. Prior to Laramar, Peter held
the role of senior asset manager
at Prana Investments, a real estate
investment firmwith operations
inNewYork, San Francisco and
LosAngeles.
s
High Fives!
A team from the Colorado
State University College of
Business took top honors at the
recent International Council
of Shopping Centers Sherman
Miller Real Estate Competition.
The team included Jake
Miller, Denzel Myers, Zach
Johnson, SamWhite and Lance
Eberhard.
Hosted byCSU’s Everitt Real
Estate Center, the competition
involved undergraduate stu-
dents fromCSU, theUniversity
of Colorado-Boulder and Uni-
versity of Denver. The teams
were tasked with analyzing a
retail shopping center invest-
ment, which required creating
a pro forma, analyzing market
conditions, rent roll, cash flow,
holding period, loan-to-value
and debt/equity capital stack,
among other factors.
“Something I’ve stressed to
everyone I’ve talked to about
this competition is the value
of real-world practice,” said
White,CSU’s teamcaptain. “As
students, we are almost exclu-
sively focused on the academic
part of our skill set. However,
real-world practice and experi-
ence is the best way to translate
this academic knowledge into
real-world value. My team-
mates and I were focused on
winning, but throughout the
experience we understood the
importance of this experience
goes far beyond the value of
finishing first.”
“Each team in this year’s
ICSC real estate competition
worked very hard in a short
amount of time and submit-
ted excellent presentations,”
said Bethany Geisert, Everitt
Center administrative coordi-
nator. “After reviewing the pre-
sentations, the judges pointed
out the impressive amount of
detail that was provided by the
CSU team, especially consider-
ing the quick turnaround.”
“We cannot think of a better
opportunity for the students
to distinguish themselves in
the job market as candidates,”
added Richard Button, interim
executive director of the Everitt
Real Estate Center.
s
From left, Zach Johnson, Lance Bernhard, Sam White, Jake Miller
and Denzel Myers present their analysis to the audience and
judges panel.
Greg Hundley
Bob Ambrosius
Lindsey A.L.
Diedrich
For a 58,000-square-foot build-
ing in Denver, it’s probably one
of the highest-quality assets in the
market.”
The Chotin Group declined to
comment on the acquisition.
Miller Global acquired Panora-
ma Corporate Center X as part
of its $145.3 million purchase
of Panorama Corporate Center
two years ago. The deal included
buildings totaling 821,242 sf and
two lots comprising 11.3 acres.
Located at Interstate 25 and Dry
Creek Road, it has a light-rail sta-
tion on site, as well as a deli and
other amenities.
Other News
n
MicroStar Logistics
has
signed a lease for approximate-
ly 13,000 square feet of space at
Gauge,
Zeppelin Development’s
planned 100,000-sf office building
at the foot of the 38th and Blake
commuter-rail station.
MicroStar provides kegs to craft
breweries.
“To support craft brewers’ con-
tinued growth, we have made
significant investments in our
business, causing us to outgrow
our current headquarters,” said
Michael Hranicka,
MicroStar
president and CEO. Noting that
thenewbuilding is “in theheart of
Denver’s thriving brewery com-
munity,” Hranicka said, “Gauge
is perfect for us. They are located
in the center of the action, offer
creative workspaces and are stra-
tegically located at a new light-rail
stop, which offers easy access and
furthers our sustainability goals.
Chris Riedl
and
Matt Edgar
of
Community First Commer-
cial
represented the tenant in the
transaction.
Cushman & Wake-
field
brokers
Ryan Stout, Nate
Bradley, Drew McManus
and
Zach Williams
represented
Zep-
pelin Development.
Construction of Gauge, located
at 3501 Wazee St., is slated to
begin April 1 and be completed
in April 2017. Designed by
Dynia
Architects,
the building will inte-
grate first-floor event and retail
space, with a bar and restaurant,
and coffee shop. It will feature
glass roll-up garage doors; walk-
out, landscaped terraces; immedi-
ate access to commuter rail; and a
parking garage a mile away.
“We’re very excited to welcome
an innovative, growing com-
pany like MicroStar Logistics to
Gauge,” said
Kyle Zeppelin
of
Zeppelin Development.
“With
low vacancy rates in the neigh-
borhood and limited space still
available at Gauge, it’s clear that
RiNo is being recognized as a
hub for entrepreneurial compa-
nies that want an urban address
outside of the central business
district.”
n
A 12,538-sf Class A office
building at 8040 Southpark Lane
in Littleton sold for $2.3 million,
or $183.44 per sf.
Kingdom Capital LLC
sold the
property to
Terra West Proper-
ties LLC.
The building is located
off of West Mineral Avenue and
Southpark Lane, a mile north of
C-470. Situated in the center of
Southpark Business Park, it was
constructed in 2005.
Matt Call
of
NavPoint Real
Estate Group
handled the
transaction.
s
Miller
St. in Centennial.
The sales price equates to
$115,714 per unit and $109.58 per
sf. The property was constructed
in 1965.
Josh Newell,
a senior adviser
at
Pinnacle Real Estate Advisors
LLC,
represented the local buyer in
the transaction.
n
An unidentified buyer paid
$550,000, or $68,700per unit, for an
eight-unit apartment building at
12014 E. 14th Ave. in Aurora. The
property was built in 1959.
The building is a block south-
west of the Fitzsimmons biosci-
ence campus.
Joe Hornstein
and
Scott Fet-
ter
of
Pinnacle Real Estate Advi-
sors
represented both sides of the
transaction.
“This was a deal driven by two
factors – the continued value the
Anschutz medical campus is add-
ing to the area and also the con-
tinued push of rents in the north
Aurora submarket,” Fetter said.
“Looking at the prices that similar
properties trade for in areas like
Littleton, Lakewood and North-
glenn, I think paying less than
$70,000 per unit to be a block from
Anschutz is really attractive.”
n
Allied Orion Group,
based
in Houston, has been selected by
Arel Capital
tomanage its 114-unit
Cambridge Apartment
building
at 1260 S. Bellaire St. in Denver.
Cambridge is the sixth apartment
community managed by Allied
and owned by Arel’s “Collective
Glendale” portfolio, which has
a total of 651 units. Other com-
munities in Collective Glendale
include Vantage Point, the Birch,
Four Mile Flats, Infinity Flats and
Park Point.
s
Multifamily
Baxter Fain
