CREJ - page 1

AUGUST 3-AUGUST 16, 2016
by John Rebchook
Denver-based Simpson
Housing recently purchased
two prized apartment com-
munities in the LoDo/Ball-
park area of downtown Den-
ver.
Simpson Housing beat out
numerous other potential
buyers and paid $81.9 mil-
lion, or $362,389 per door, for
the 226-unit TwentyOne|01
apartment community at
2010 Market St.
As part of the same trans-
action, Simpson also paid
$62 million, or $378,048.78
per unit, for the 164-unit Bat-
tery on Blake Street build-
ing, which incorporates the
former Piggly Wiggly ware-
house at 22nd and Market
streets into the rental com-
munity.
The seller was the Phoenix-
based Alliance Residential
Group.
It bought and developed
TwentyOne|01 in 2008 and
developed what it had called
the Broadstone on Blake
Street in 2015.
That building includes a
bowling alley.
“We are excited about our
expansion in the Denver mar-
ket and are eager to extend
our excellence in customer
service to our residents,” said
Sharon O’Connell, a senior
regional vice president at the
Simpson Property Group.
“At TwentyOne|01 and
The Battery on Blake Street,
residents can experience
extraordinary living, while
having an array of conve-
niences and urban experienc-
es within walking distance,”
O’Connell said.
“We look forward to con-
tributing to and being part of
the Ballpark neighborhood,”
she added.
Simpson already has started
upgrading TwentyOne|01.
Terrance Hunt, part of the
ARA Newmark team that
represented Alliance in the
sale, expects that Simpson
will spend about $10,000 per
unit on the building, basically
a block from Coors Field.
“What is interesting is that
the Piggly Wiggly site is a
true value-add property and
the other one is a brand-new,
turnkey development,” Hunt
by Jill Jamieson-Nichols
A global investment man-
ager that announced earlier
this year it would build a
North American headquar-
ters in Denver acquired 25.12
acres in InterlockenAdvanced
Technology Environment,
according to public records.
The buyer, Partners Group
Colorado Propco LLC, lists
the same address as the Den-
ver office of Partners Group, a
Switzerland-based company
with locations around the
world. It paid $7.11 million
for the land at 1200 Eldorado
Blvd., according to Broom-
field County records.
A Partners Group spokes-
woman said the company
wasn’t commenting on the
acquisition. The seller was
CC Interlocken Inc., an affili-
ate of Miami-based Courte-
lis Co., which didn’t return a
phone call. Newmark Grubb
Knight Frank Executive Man-
aging Director David Hart,
who handled the transaction,
declined comment.
Partners Group has more
than $50 billion in investment
programs undermanagement
in private equity, real estate,
infrastructure and debt. In
2015, almost half of its invest-
ments on behalf of interna-
tional clients were made in
North America.
In March, it said it would
build a headquarters in the
Denver area to support con-
tinued growth of its Ameri-
cas operations. The “pur-
pose-built” campus, Partners
Group said, will be capable of
accommodating several hun-
dred employees over time,
with the first phase to be com-
pleted in 2018.
“Our intention is to build a
hub for our Americas activi-
ties in the same way that our
headquarters in Zug, Switzer-
land, and our Singapore office
serve as hubs for Partners
Group in Europe and Asia,”
Dr. Charles Dallara, partner
and chairman of the Ameri-
cas, said in a March 15 press
release. “We will invest a sig-
nificant amount of time and
resources into building our
Colorado campus, which is a
reflection of our commitment
to the Americas. We believe
Colorado is a great fit for Part-
ners Group and are excited to
be able to offer our employees
the option of working there.”
At the time of the announce-
ment,
Partners
Group
employed approximately 150
people in the Americas and
said, given the pace of growth
of its North American busi-
ness, it expected to broaden
its U.S. team, with the Colo-
rado campus serving as its
main base for that expansion.
Partners Group will main-
tain significant offices in New
York, Houston and Sao Paulo,
but said once the Colorado
campus is complete, it will
gradually relocate its San
Francisco operations here.
“With clients and invest-
ments located across the U.S.,
we chose Colorado because
of its central location, as well
as the high quality of life the
state offers to our employ-
ees,” David Layton, partner
and co-head of private equity,
who will relocate from New
York to lead the Americas
headquarters, said back in
March.
“Denver is one of the
fastest-growing cities in the
U.S., with a highly educated
workforce, and it is becoming
a magnet for talented pro-
fessionals who are seeking
dynamic careers outside of
the typical financial centers.
In Colorado, we will create
a unique campus culture at
the heart of our Americas
business.”
s
Shown is the TwentyOne|01, one of the two properties recently purchased by Simpson Housing.
Edgemark Development LLC recently acquired a high-profile
site in Glendale to develop its second self-storage project and
a retail pad.
Site secured
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