Page 44 —
COLORADO REAL ESTATE JOURNAL
— September 21-October 4, 2016
port the retention piece with
ample balance sheets. However,
many CMBS analysts consider
this conduit deal an anomaly
compared to future deals that
will comply with risk retention
since it was solely pooled by
major national conduit lenders.
There are very few CMBS
originators who have the ability
to afford to hold the risk reten-
tion piece on their balance sheet
for five years. As the year con-
tinues, it will be quite interest-
ing to see how these regulations
affect future conduit transac-
tions. Many of the smaller CMBS
shops that do not have their own
shelf will see significant increas-
es in pricing that will then be
passed on to borrowers. HFF has
been in constant communication
with CMBS lenders, and many
have procrastinated implement-
ing the necessary steps needed to
fully comply with risk retention,
choosing to take a “wait-and-
see” approach. No lender wants
to be punished for being the
guinea pig.
According to Trepp, it is esti-
mated there will be $95 billion
in CMBS maturities in 2017. As
risk retention looms, coupled
with a pending glut of refinance
demand, the greater CMBS mar-
ket will be in for a tumultuous
ride in the fourth quarter of 2016
and first quarter of 2017. Borrow-
ers, mortgage bankers and other
capital markets participants anx-
iously wait to see if risk retention
will drastically change the con-
duit process or if it will simply
continue with business as usual.
Sources:
awarded The STEM High
School renovation project,
which included 30,000 square
feet of classrooms, common
areas and administration space.
Barrons Building Phases I and II
involved the transformation of
an office building into a highly
functioning school facility and
included new classrooms, bath-
rooms, offices and full secu-
rity. Barrons Building Phase III
included 20 new classrooms,
multiple new bathrooms, a new
gymnasium, a full commercial
kitchen and a cafeteria. The
entire expansion project totaled
71,000 sf.
“As a general contracting
firm that focuses on commu-
nity-based projects, including
school facilities of all types, our
relationship with The STEM
School and Academy goes back
many years and is highly val-
ued,” said Josh Hill, Himmel-
man project manger. “Working
side by side with their execu-
tive team and school admin-
istrators, we collectively built
a facility that will house and
nurture students of all ages for
decades to come.”
Founded in 1955, Himmelman
is a full-service construction
management and contracting
firm, providing a wide range of
preconstruction and construc-
tion services to owners and
developers across Colorado.
s
Malcomb Co.
Jansen Strawn Principals
Chris Strawn and Tom Jansen
will continue to serve their exist-
ing clients while taking on the
additional roles of overseeing
and expanding Ware Malcomb’s
civil engineering services across
North America.
“Ware Malcomb is strongly
committed to the expansion and
true integration of civil engineer-
ing services into all of our mar-
kets,” said Ware Malcomb Chief
Executive Officer Lawrence R.
Armstrong. “This is an exciting
opportunity to team up with
two talented and proven leaders
to make this vision a reality.”
s
a judicial law intern for Judge
Ann Frick with the 2nd Judicial
District Court of Colorado.
Before attending law school,
he competed as a professional
golfer on the PGA Tour. He
graduated from Duke Univer-
sity with a Bachelor of Arts in
economics. He earned a Juris
Doctor degree with a Cor-
porate and Commercial Law
Certificate from the University
of Denver Sturm College of
Law.
s
John Rosales
joined
Taylor
Kohrs
as a superintendent.
Rosales has 25 years of
construction experience as a
carpenter, foreman and super-
intendent.
He manages
all day-to-
day on-site
activities,
including
safety, qual-
ity control
and project
schedule.
s
construction team.
Stargate is chartered by
Adams 12 Five Star School Dis-
trict and located at 14530 Wash-
ington St. in Thornton.
The new campus includes
two academic buildings, a field
house and amphitheater – all
designed by Denver-based Hord
Coplan Macht to cater to the
gifted and talented student pop-
ulation. The site design incorpo-
rates a quad-style campus, and
each academic building includes
breakout spaces and a learning
commons/makerspace for kids
to pursue “passion projects.”
“The campus design and the
variety of learning spaces we
created reflects the innovative
educational vision of the school
leadership and board members
that we worked with from the
beginning. They were an inspi-
ration to the design team,” said
Adele Willson, principal of Hord
Coplan Macht.
Inline Management is the
owner’s representative on the
project.
s
Finance
Himmelman
Jansen
Who’s News
JHL
Stargate, a $51 million charter school in Thornton, is the largest char-
ter school in Colorado.
John Rosales
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Colorado Hotel & Lodging Association
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Community Associations Institute
CoreNet Colorado
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Denver Metro Commercial Association
of Realtors - DMCAR
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International Facilities Management Association,
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Investment Community of the Rockies
LeadingAge Colorado
Mile High Exchangors
NAIOP Colorado – The Commercial Real Estate
Development Association
Professional Land Surveyors of Colorado
Rocky Mountain Masonry Institute
Rocky Mountain Shopping Center Association
Society for Marketing Professional Services
Society of Industrial & Office Realtors
Southern Colorado Commercial Brokers
Urban Land Institute
U.S. Green Building Council, Colorado Chapter
WiD – Women in Design
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