Colorado Real Estate Journal - March 4, 2015
Winslow Report
WinComps
Adams County
Property Location: 1568 Nome St., Aurora, “Bahama Apts.”
Property Description: 100-unit, 4-story apt., 75,865 sf, brick const., YOC 1973
Land Size: 1.8 acres
Sales Price: $6.5M, or $65,000 per unit, or $85.68 per sf
Closing Date: 2/16
Grantor: Fitzsimons Place LLC
Grantee: Vukota Fitzsimons Place Apts. LLC (Tom Vukota, mgr.) 303-261-8584
Financing: $4.9M payable to Greystone Servicing Corp.
Comments: The all-brick building consists of 5 studios, 74 1-bed units, 21 2-bed units. Seller purchased property in May 2012 for $3 million with 40 units vacant. Seller renovated the property in 2012-2013. Greg Price of Marcus & Millichap handled the transaction.
Property Location: 2950 Walden St., Aurora
Property Description: 78,000-sf warehouse, concrete panel const., YOC 2006; 7,015-sf office area, 10 (9’ x 10’) dock doors, 4 with levelers, 4 (12’x 14’) drive-in doors, 2 (20’12’) drive-in doors.
Land Size: 4.97 acres
Sales Price: $6.36M, or $81.45 per sf
Closing Date: 1/27
Grantor: Denver VP Partners LP, c/o Victory Packaging Inc. (Timmons Realty, Houston, TX )
Grantee: Alpine Lumber Co., 303-458-8733
Comments: Property was sold by Avison Young with Lowrey Burnett, CCIM, 720- 508-8101, and Todd Mason, SIOR, CRE, 713-993-7179. Property has 87 parking spaces.
Property Location: 500 W. 53rd Ave., Denver
Property Description: 112,563-sf warehouse (includes 15,000-sf office space), twin tee and brick const., YOC 1971
Land Size: 6.52 acres
Sales Price: $5.18M, or $46.00 per sf
Closing Date: 1/23
Recording No.: 2015000005378
Grantor: 500 W. 53rd Place LLC (Kenneth W. Lombardi, et al.)
Grantee: CAGSPI 500 LLC c/o Streech Properties (Greg Streech), 303-669-9532. 140 parking spaces.
Property Location: 5901 Broadway, Denver
Property Description: 58,654-sf warehouse, twin tee const., YOC 1971
Land Size: 2.52 acres
Sales Price: $4.58M, or $78 per sf
Closing Date: 1/15
Grantor: Dual Enterprises LLC (K. Gary Cray, mgr.)
Grantee: Roseben HS LLC (Robert Warren Lom, pres.)
Financing: $2.5M due 1/15/25, payable to Wells Fargo (55% LTV)
Property Location: 4510 W. Saint Clair Pl., Denver
Property Description: 42-unit, 3-story walkup apt., 27,038 sf, brick const., YOC 1973
Land Size: 2.49 acres
Sales Price: $3.48M, or $82,738 per unit, or $128.52 per sf
Closing Date: 1/30
Grantor: Gaylord Family Partnership LLLP (Donald M. Gaylord, ptnr.)
Grantee: Copper Aspens LLC (Anthony and Barbara McEahern, mgrs.)
Financing: $2.61M @ 3.75% (variable) due 1/15/25, to FirstBank (75% LTV)
Comments: The all-brick building consists of 34 1-bed/1-bath units @ 601-616 sf, 8 2-bed/1-bath units @ 818 sf. There is excess land (37,000 sf) for additional building area. Unique Properties LLC apartment brokerage team of Adam Riddle,Ryan Floyd and Marc S. Lippitt sold this property. Expenses are $2,984 per unit, or $4.36 per sf. Cap rate of 7.1% reflected in broker’s statement.
Property Location: 1441 W. 124th Ave., Westminster
Property Description: 20,000-sf flex building, YOC 1984
Land Size: 1.28 acres
Sales Price: $1.65M, or $82.50 per sf
Closing Date: 1/28
Recording No: 2015000006913
Grantor: 1441 West LLC (Scott Reichenberg and Neil A. Littmann, mgrs.)
Grantee: WW Enterprises LLC (Wayne Wagner, mgr.) 303-280-2800
Financing: $1.32M payable to JPMorgan Chase Bank, NA (80% LTV)
Comments: Listing brokers were Scott Reichenberg, CCIM, and Neil Littman of The Colorado Group, 303-449-2131. Property was listed for $6.50 per sf NNN, or $1.65M, and was vacant at time of sale. Grantee is president of Krayden, Inc., who purchased 1491 W. 124th Ave. for $1 million in 2009. Seller spent $250,000 in upgrades for this building in 2007. Includes 2,000-sf office, 31 parking spaces, two dock-high doors, one grade-level door, 18’ to 20’ clear.
Property Location: NEC E. Bridge St. & N. 50th Ave. (Himalaya St.), Brighton
Property Description: Vacant commercial pad site
Land Size: 51,799 sf
Sales Price: $1.6M, or $30.89 per sf
Closing Date: 1/20
Recording No.: 2015000004436
Grantor: Dillon Companies Inc. (Russell J. Dispense, VP)
Grantee: FirstBank, 12345 W. Colfax Ave., Lakewood, CO 80215
Comments: Listing brokers were Scott Steputis, 720-287-6969, and Rhonda Coy 720-287-6866, of Crosbie Real Estate Group. A new FirstBank is proposed on this signalized corner site.
Property Location: NEC E. Colfax Ave. & Oswego St., Aurora
Property Description: Vacant commercial land
Land Size: 62,557 sf
Sales Price: $1.5M, or $24 per sf
Closing Date: 1/29
Recording No.: 2015000006456
Grantor: Brent Eley Center LLC (Donn Eley, mgr.)
Grantee: Children’s Hospital Colorado
Comments: Listing brokers were Terry Matthews, 303-312-4269, and Trevor Brown, 303-312-4208, of DTZ.
Property Location: 1870 W. 64th, Denver
Property Description: 14,960-sf warehouse, YOC 2002
Land Size: 1.08 acres
Sales Price: $1.48M, or $98.60 per sf
Recording No.: 2015000005115
Closing Date: 1/21
Financing: $1.11M payable to FirstBank, due 1/15/25 @ 4.5% (75% LTV)
Grantor: Michael Grant LLC (Michael Grant, mgr.)
Grantee: Manhattan Fund XXI LLC (Timothy Wayne, CCIM, and Scott Chapiewsky)
Comments: Tim Wayne is a licensed real estate broker, 303-861-2442.
Property Location: 2345 W. 112th Ave., Westminster, “Hideaway Steakhouse”
Property Description: 5,940-sf restaurant, stucco const., YOC 1978
Land Size: 2 acres
Sales Price: $1.3M, or $218.86 per sf
Closing Date: 1/29
Grantor: ALH LLC (Andrew L. Hermes, mgr.)
Grantee: STW LLC (Stephen Scott Woodward, mgr.) 303-404-9939
Comments: Lot 1, Block 1, Gale Subdivision. This property sold in October 2014 for $1.3M. Property is located on the north side of West 112th Avenue, approx. 1/5 mile west of Wyandot Street. Buyer was the tenant in the building (Hideaway Steakhouse) and purchased the property from the landlord, Andrew L. Hermes.
Property Location: 9101 Pearl St., Thornton, “Pearl Professional Building”
Property Description: 25,800-sf, 3-story office building, YOC 1982
Land Size: 2.1 acres
Sales Price: $1.05M, or $40.70 per sf
Closing Date: 1/30
Reception No.: 2015000006880
Grantor: Kinnickinnic Realty Co. (E.mGregg Jackson, CEO)
Grantee: Reefer Ware LLC (Martin Chernoff and Andrew Feinstein) 303-832-5482
Comments: Property, listed for lease by Scott L. Fischer of Unique Properties LLC, includes 2,009-sf office space for $10.50 per sf full-service. This is a sublease through September.
Property Location: NWC E. 88th Ave. & Imboden Rd., Watkins, “Altezza Motorsports Track Proposed”
Property Description: Vacant land
Land Size: 364.19 acres
Sales Price: $900,000, or $2,471 per acre
Closing Date: 2/12
Recording No.: 2015000010631
Grantor: LLSS LLC (Dorothy A. Lynn, mgr.) 8425 Garland Court, Arvada, CO 80005
Grantee: Altezza LLC (Ted Morris, CEO of Colorado Motorsport Ventures Inc.)
Comments: Listed by Dale Stull of The Land Office LLC.
Arapahoe County
Property Location: 5350 S. Roslyn St., Greenwood Village
Property Description: 63,754-sf 4-story office bldg, YOC 1981 (renovated 1994)
Land Size: 4.09 acres
Sales Price: $11.45M, or $179.60 per sf
Closing Date: 2/10
Reception No.: D5013556
Grantor: Westcore Carson 400 Inverness LLC, et al. (Donald Ankeny)
Grantee: LGP Inverness JV-T LLC c/o Legacy Partners Commercial (Rick Wada)
Financing: $54.25M payable to GE Capital Bank, due 2/28/19 (blanket mtg.)
Comments: See related sales.
Property Location: 9359 E. Nichols Ave., Centennial
Property Description: 70,398-sf single-story industrial flex building, YOC 1997
Land Size: 5.93 acres
Sales Price: $8.53M, or $121.17 per sf
Closing Date: 2/10
Reception No.: D5013554
Grantor: Westcore Carson 400 Inverness LLC, et al. (Donald Ankeny)
Grantee: LGP Inverness JV-T LLC c/o Legacy Partners Commercial (Rick Wada)
Financing: $54.25M payable to GE Capital Bank, due 2/28/19 (blanket mortgage)
Comments: Six spaces for lease totaling 14,235 sf; rents at $24 to $26 per sf fullservice. LEED Gold certified. See related sales.
Property Location: 7074 S. Revere Pkwy., Centennial
Property Description: 18,395-sf, 2-story office warehouse, concrete tilt-up, YOC 1999
Land Size: 1.2 acres
Sales Price: $1.94M, or $105.52 per sf
Closing Date: 2/11
Reception No.: D5013597
Grantor: Westerman Realty Interest LLC (David A. Miller, VP)
Grantee: Encore 7074 LLC
Comments: Listed by Matt Trone of Cushman & Wakefield. 2 dock-high doors and 1 drive-in door (13,743-sf, high-quality office finish).
Property Location: 15528 E. Hampden Cir., Aurora
Property Description: 23,125-sf recreation center, brick const., YOC 1973
Land Size: 4.21 acres
Sales Price: $1.57M, or $68.02 per sf
Closing Date: 2/9
Reception No.: D5013297
Grantor: Rentals Denver LLC (Ilea A. Klein, mgr.)
Grantee: Muslims Community Center (Khaled Hamideh, Chairman) 303-696-9800
Financing: $1.07M payable to Rentals Denver LLC (Grantor) (68% LTV)
Comments: The loan shall be paid in 7 annual payments of $153,286. Ilya Klein, Greg Knott and Brad Gilpin of Unique properties listed the property, 303-321-5888. Includes indoor pool, outdoor pool, sauna, 4 racquetball courts, 3 tennis courts and weight training room.
Property Location: 1400 Kingston St., Aurora
Property Description: 18-unit, 3-level apt., 13,275 sf, brick const., YOC 1957
Land Size: 12,589 sf
Sales Price: $1.25M, or $69,444 per unit or $94.16 per sf
Closing Date: 2/2
Reception No.: D5003328
Grantor: Excellent Day LLC, (Peggy Shupe, mbr.), Lone Oak LLC (Michael Jablonski, mbr.), Kingston 18 SET LLC (Sarah E. Till, mgr.)
Grantee: JH_Properties2 LLC (James H. Hockensmith, mbr.)
Financing: $937,500 payable to Bank of the West due 1/16/2025 (75% LTV)
Comments: Property listed by Unique Properties LLC Apartment Team. Renovations include new roof, windows landscaping, parking lot, interior flooring, light fixtures, electrical panels, AC units, and new boiler and hot water heaters. The units are all one-bedroom units renting @ $640 per month. Expenses estimated by listing broker at $2,266 per unit, reflecting a 7.6% cap rate.
Denver County
Property Location: 425 S. Galena Way, Denver, “Seven Oaks Condominiums”
Property Description: 142-unit, 2-story apt. complex, 116,699 sf, brick/frame const. (8 buildings), YOC 1979
Land Size: 5.49 acres
Sales Price: $15.25M, or $107,394 per unit, or $130.68 per sf
Closing Date: 2/9
Reception No.: 2015018406
Grantor: Green Leaf Oaks LP (Thomas A Hall, mgr.)
Grantee: JSP Lowry LLC & FRG Lowry LLC c/o FCG Vista LLC (Morton L. Friedkin)
Financing: $14.18M payable to M&T Realty Capital Corp (93% LTV)
Comments: This property was sold by ARA’s Jeff Hawks, Doug Andrews, Shane Ozment, Terrance Hunt and Anna Stevens, 303-260-4400. Property last sold in October 2011 for $8.5M. (Denver County shows size to be 105,483 sf.) There are 6 1-bed/1-bath @ 532 sf that rent for $748/ mo; 64 1-bed/1-bath @ 686 sf that rent for $811/mo; 24 2-bed/1-bath @ 900 sf that rent for $824/mo; 48 2-bed/2-bath @ 1,000 sf that rent for $945/mo. Average size is 822 sf with average rent of $1 per sf per month. There are 15 covered parking spaces and 282 open spaces. Operating expenses are estimated to be $4,110 per unit not including capital reserves.
Property Location: 1580 Logan St., Denver
Property Description: 70,791-sf, 7-story office building, YOC 1982
Land Size: 18,390 sf
Sales Price: $10.35M, or $146.20 per sf
Closing Date: 2/4
Reception No.: 2015014400
Grantor: New Logan Tower LLC (Christopher R. King, mgr.) c/o DPC Dev Co.
Grantee: CIO Logan Tower LP c/o Second City Real Estate (James Farrar, pres.)
Financing: $150M blanket mortgage, payable to KeyBank, NA
Comments: Seller acquired the building in 2012 for $5.85M. There are 2.5 structured spaces per 1,000 sf. Seller can be reached at 303-796-8288. The building includes a 4-level parking garage. Quoted lease rates are $24 per sf full service. Listing brokers were Newmark Grubb Knight Frank’s Pete Staab and Tyler Johnson. Building is located at the SEC of East 16th Avenue and Logan Street. Buyer is based out of Vancouver, BC, Canada, 604-806-3350.
Property Location: 6 S. Lincoln St., Denver
Property Description: 36-unit, 5-story apt., 31,175 sf, brick const., YOC 1964
Land Size: 18,390 sf
Sales Price: $7.4M, or $205,555 per unit, or $237.37 per sf
Closing Date: 2/6
Reception No.: 2015014470
Grantor: Dwellings LLC, (Douglas M. Campbell, mgr.), Cedarbridge Apartments LLC (Ronald L. Wells, mgr.) and C & L Investing LLC (Matt Lewallen, mgr.)
Grantee: 6 Lincoln Property LLC (Michael G. Watson)
Financing: $4.81M @ 4.3% due 2/1/25, payable to FirstBank (65% LTV)
Comments: Kevin Calame and Matt Lewallen of Pinnacle Real Estate Advisors represented the parties in this transaction. Property is located at NEC of South Lincoln Street and East Ellsworth Avenue and has been renovated in last 2 years.
Property Location: 2775 S. Federal Blvd, Denver, “The Amherst"
Property Description: 81-unit, 3-story walkup apt., 58,003 sf, brick const., YOC 1973
Land Size: 15,600 sf
Sales Price: $5.6M, or $98,236 per unit, or $148.70 per sf
Closing Date: 2/9
Reception No.: 2015014459
Grantor: GPJ Realty LLC (Matthew Joblon, mgr.)
Grantee: Vukota Amherst Apartments LP (Tom Vukota and Michael Fiorillo, mgrs.)
Financing: Assume $3.66M loan balance payable to Centerline Mtg. Capital
Comments: Josh Newell and Rob Lawson of Pinnacle Real Estate Advisors represented the parties in this transaction. Loan is due 4/1/22 @ 4.15%.
Property Location: 3825 Tennyson St, (W/S Tennyson St,, 100’ N of W. 38th Ave.)
Property Description: 21,000-sf bowling alley (land value)
Land Size: 50,129 sf
Sales Price: $4.37M,or $87.22 per sf
Closing Date: 2/6
Reception No.: 2015013993
Grantor: LCP Tennyson LLC (Jonathan Bush, mbr.) 303-797-9119
Grantee: EVC Tennyson LLC (Luke R. Spellmeier, mgr.) 785-272-1398
Financing: $4.5M payable to Alliance Bank, Topeka, KS
Comments: Mark McPherson, 720-333-4436 or 785-925-1027, mmcpherson@equityventurescd.com, is the leasing agent in Denver for the buyer, Equity Ventures Commercial Development, based out of Topeka, KS. Buyer will redevelop the site to retail use.
Property Location: 915 S. Colorado Blvd., Denver
Property Description: 15,206-sf, 2-story office building, brick const., YOC 1956
Land Size: 25,300 sf
Sales Price: $3.28M, or $180.18 per sf
Closing Date: 1/23
Reception No. 2015012101
Grantor: Alberola Properties LLLP (JeanMarc Alberola, gen. ptnr.)
Grantee: 915 South Colorado Boulevard LLC (Ira J. Lang, mgr.)
Comments: Single-tenant office building occupied by Bridge. The buyer has purchased three other investment properties in the South Colorado Boulevard corridor and is based in Miami with his most recent purchase of 945-965 S. Colorado Blvd. @ $4.63M, which included the new restaurants developed by Kentro Group, 625 S. Colorado Blvd., for $2.5M.
Property Location: 4700-4760 E. Evans Ave., Denver
Property Description: Land value, 2-story, 79-unit motel currently on the property
Land Size: 1.56 acres
Sales Price: $1.95M, or $28.70 per sf
Closing Date: 2/9
Reception No.: 2015015998
Grantor: C.G. Ruhl Investments LLP (Philip M. Sweeney and Colleen M. Kreft, trs.)
Grantee: Greenbox IV LLC c/o Focus Property Group (Bahman Shafa) 303-296-7550
Financing: $1.46M, payable to Bank of Denver, due 3/1/45
Comments: Located on the SEC of Interstate 25 and East Evans Avenue, the property was listed by Scot Huber and Michael Shriver of Colliers International, 303-745-5800. Motel will be torn down and a self-storage will be constructed beginning March 1.
Property Location: 1460 Jasmine St., Denver, “Jasmine Place Apts.”
Property Description: 17-unit, 3-story apt., 11,231sf, brick const., YOC 1948
Land Size: 15,600 sf
Sales Price: $1.67M, or $98,236 per unit, or $148.70 per sf
Closing Date: 2/4
Reception No. 2015013167
Grantor: 1460 Jasmine St. Denver LLC (James R. Shaw, mgr.)
Grantee: 2340 South University Properties LLC (Mike Stickel, mgr.)
Comments: There are 6 1-bed units @ 735 per/mo. and 11 2-bed @ $895 per/mo. units with on-site laundry facility.
Property Location: 1140-1150 S. Kalamath St., Denver
Property Description: 7,553-sf and 11,520- sf warehouse buildings (total 19,073 sf), masonry const., YOC 1965
Land Size: 32,265 sf
Sales Price: $1.5M, or $78.59 per sf
Closing Date: 2/2
Reception No.: 2015012274
Grantor: 1150 S Kalamath Partners LLC (Daniel Murphy, mgr.)
Grantee: 1150 South Kalamath LLC (Rufus Nagel, Riley McLaughlin, 303-883-6849, and Kevin Charlson, mbrs., 303-883-6789, principals of I-Kota, Inc.)
Financing: $1.27M, payable to FirstBank @ 4.25% due 2/10/25
Comments: Listed by Greg Knott, Kurt Holzkamp and Brad Gilpin of Unique Properties LLC and shows 19,550-sf building with new modified bitumen roof. There is 11,700 sf available for new owner.
Property Location: 1625 Marion St., Denver
Property Description: 7,590-sf medical building, YOC 1994
Land Size: 21,887 sf
Sales Price: $1.35M, or $177.87 per sf
Closing Date: 2/4
Reception No.: 2015012784
Grantor: Community Child Health Foundation (Kenneth Luff, pres.)
Grantee: 1625 Marion LLC (Spyridon Papadopoulos, mgr., aka “Dr. Spero”)
Financing: $1.08M payable to UMB Bank (80% LTV)
Comments: Tenant purchased the building from the grantor (Children’s Medical Center) 303-830-7337
Property Location: 3301-3305 & 3280 Downing St., Units A-F & R-1, Denver
Property Description: 7,015-sf office condo (on first floor of a 5-story building) YOC 1998, plus 26,271-sf parking site at SEC of E. 33rd Ave. & Downing St.
Land Size: 26,271 sf (3301-3305 Downing Property)
Sales Price: $1.1M
Closing Date: 2/10
Reception No.: 2015016503
Grantor: YouthBiz LLC (Aaron P. Bailey)
Grantee: Downing Square Holding Co. LLC (William A. Bivens Jr., 303-298-7373, and Kevin P. Higgins, mgr, 303-321-5888)
Financing: $2.85M payable to Vectra Bank Colorado, NA
Comments: Sold by James Roupp of JLL, james.roupp@am.jll.com or 303-217-7947. Commercial office condos located at 3280 Downing: Unit A = 355 sf: Unit B = 501 sf: Unit C = 883 sf: Unit D = 1,250 sf: Unit E = 2,056 sf: Unit F = 2,020 sf. Kevin Higgins of Unique Properties represented the buyer.
Property Location: 1610 Emerson St., Denver
Property Description: 4,234-sf, 3-story office conversion (mansion), plus 1,494-sf in basement, brick const., YOC 1897
Land Size: 7,250 sf
Sales Price: $950,000, or $224.37 per sf
Closing Date: 2/3
Reception No.: 2015014360
Grantor: Spring Institute for Intercultural Learning (Paula Schriefer, CEO)
Grantee: Mental Health Center of Denver
Financing: $1.8M due 8/12/15 payable to Brown Water Investments I, LLC
Comments: First floor contains 1,613 sf, second floor contains 1,494 sf, third floor contains 1,127, and basement contains 1,494 sf. (County shows 6,258-sf bldg.) The property was listed by Perry & Co., 303-399-7777. 12 parking spaces in rear.
Property Location: 3868 Tennyson St., Denver
Property Description: 4,240-sf industrial building, YOC 1972
Land Size: 9,518 sf
Sales Price: $842,500, or $198.70 per sf
Closing Date: 2/12
Reception No.: 2015018080
Grantor: Wavia R. Tullar
Grantee: RPDG Tennyson Street LLC (Reid Davis, mgr.) 303-586-3080
Financing: $1.8M due 8/12/15 payable to Brown Water Investments I, LLC
Comments: Buyer’s email is rdavis@riverpointpartners.com.
Douglas County
Property Location: 400 Inverness Pkwy., Englewood
Property Description: 111,608-sf, 3-story office building, YOC 1998
Land Size: 5.92 acres
Sales Price: $21.07M, or $188.79 per sf
Closing Date: 2/10
Reception No.: 2015008324
Grantor: Westcore Carson 400 Inverness LLC, et al. (Donald Ankeny)
Grantee: LGP Inverness JV-T LLC c/o Legacy Partners Commercial (Rick Wada)
Financing: $54.25M payable to GE Capital Bank, due 2/28/19
Comments: Six spaces for lease totaling 14,235 sf; rents at $24 to $26 per sf fullservice. LEED Gold certified. See 9359 E. Nichols Ave. sale of 70,398-sf industrial flex building constructed in 1997 for $8.53M, or $121.17 per sf. Buyer is based out of Foster City, CA.
Property Location: 3757 Norwood Dr., Littleton
Property Description: 40,026-sf miniwarehouse complex (7 bldgs.) YOC 1985; 1,344-sf house, YOC 1985
Land Size: 3.07 acres
Sales Price: $4.3M, or $103.94 per sf
Closing Date: 1/20
Reception No.: 2015005509
Grantor: DSI Realty Income Fund VII (Richard P. Conway, EVP)
Grantee: SST II 3757 Norwood DR LLC c/o Strategic Storage Trust II, Inc.
Financing: $71.3M payable to KeyBank (blanket mortgage)
Comments: Michael S. McClure, CFO for the buyer, 949-429-6600; Wayne Johnson is acquisition contact, wjohnson@sstreit.com or 214-217-9797, Ext. 302.
Property Location: 7 & 19 North Cantril St., Castle Rock, “Castle Court Apts.”
Property Description: 2 17-unit, 3-story apt. bldgs., 36,456 sf, YOC 1980-1985
Land Size: 37,461 sf
Sales Price: $3.3M, or $97,058 per unit, or $90.52 per sf
Closing Date: 1/30
Reception No.: 2015005942
Grantor: Capital 8 Castle Court LLC (Jeffrey L. Kissee, mbr.)
Grantee: Brad Peterman
Financing: $2.48M @ 3.5% payable to FirstBank
Comments: Josh Newell of Pinnacle Real Estate Advisors represented the parties in the transaction.
Property Location: N/S C-470, appr. ¼ mile E. of (Hwy 85) Santa Fe Dr., Littleton
Property Description: Vacant land
Land Size: 214,234 sf
Sales Price: $3M, or $14 per sf
Closing Date: 2/5
Reception No.: 2015007295
Grantor: LC West LLC (Mark J. Kerslake, mgr.)
Grantee: Drawe Holdings LLC, (Mike Drawe, mgr.) 720-746-2697
Financing: $8.8M, payable to AmeriCredit Financial Services (construction loan)
Comments: Site is platted and fully entitled. The property was listed by Allen Lampert, Steve Markey and Tommy Visconsi of David Hicks Lampert, 303-694- 6082.
Property Location: East Corner Tall Tale Ln. & Copper Cloud Dr., Castle Rock
Property Description: 46 residential lots
Land Size: 6.23 acres
Sales Price: $2.76M, or $60,049 per lot, or
$10.18 per sf
Closing Date: 1/30
Grantor: SLV Castle Oaks LLC c/o Starwood Land Ventures, (Michael R. Forsum, mgr.) mforsum@starwoodland.com or 480-305-7200
Grantee: Tri Pointe Homes (Mike Grubbs, CFO) 949-478-8600, Irvine, CA
Comments: Matt Osborn is division president (Colorado) 303-802-1500. The average size lot is 5,901 sf, the smallest lot is 4,922 sf and the largest lot is 11,631 sf. This sale is the second takedown of lots in final plat of Castle Oaks Estate Filing No. 1, Amendment No. 8. The first takedown occurred on June 20, 2014, in the amount of $2.68M and included 46 lots @ $58,300 per lot.
Property Location: 10100 Commons St., Lone Tree, “Morningstar at RidgeGate”
Property Description: Vacant land, plans for 224-unit senior facility
Land Size: 4.82 acres
Sales Price: $2.7M, or $12.85 per sf
Closing Date: 1/29
Reception No.: 2015007421
Grantor: Lincoln Commons South, Inc c/o Coventry Dev Corp, Keith D. Simon, 720-279-2581, or Robert Asselbergs (NYC), 212-752-6164
Grantee: SHI-II Lone Tree LLC c/o AEW Capital Management LP (Christopher A. Kazantis or Brian Sunday) 617-261-9000
Comments: This site is located on the northeast corner of RidgeGate Parkway and Commons Street. Buyer is planning to construct 2 buildings, including a 5-story and a 3-story building, consisting of 71 assisted-living units, 29 memory care units and 124 independent living units with approximately 265,000 sf of enclosed a senior independent housing, assisted care and memory care facility.
Property Location: SWC Bristleridge St. & Glenayre Cir., Englewood
Property Description: 20 residential lots
Land Size: 3.4 acres
Sales Price: $2.11M, or $105,414 per lot, or $14.21 per sf
Closing Date: 1/30
Grantor: SB Meridian Villages (Thomas H. Bradbury Jr., mbr.)
Grantee: Richmond American Homes of Colorado, Inc. (Holly Hoxeng)
Comments: Lots 78-87 & 99-108, Meridian International Business Center Filing No. 7A. The 16 interior lots are 7,187 sf each, while the four exterior lots average 8,320 sf each.
Property Location: 9559 S. Kingston Ct., Englewood
Property Description: 6,320-sf office building, brick const., YOC 2000
Land Size: 22,215 sf
Sales Price: $1.04M, or $163.96 per sf
Closing Date: 1/16 Reception No.: 2015003322
Grantor: Infinity Real Estate Holding LLC (Walker L. Fleming, mbr.)
Grantee: Roper LLC (Marla and Steve Roper, mgr.)
Financing: $880,660, payable to First Citizens Bank, due 15 years
Comments: Sale listed by Matt Call of NavPointe Real Estate Group, 720-420-7529 or matt.call@navpointre.com.