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Page Background Making history A joint venture will combine a 17th Street office building’s historic features with modern office space and amenities


8 4 Record setter Steele Creek sells for a record-setting $649,083 per unit

NOVEMBER 1-14, 2017

18 Diversity Minorities are underrepresented in commercial real estate at a time when some say diversity is increasingly important 23 First-timer The first-ever sale of purpose-built student housing in Colorado Springs closes Featured Quarterly

by Jennifer Hayes

A partnership formed

to purchase $1.3 billion of

Class A apartment proper-

ties across the United States

made its first acquisition

in Thornton with the Park-

house Apartment Homes.

Starlight Investments, a

Toronto-based privately held,

full-service real estate invest-

ment and asset management

company, with Canadian

pension funds Public Sector

Pension Investment Board

and Alberta Investment Man-

agement Corp., purchased

the 465-unit community at

14310 Grant St.

LMC 144th and Grant LLC

sold the garden-style com-

munity for $121.6 million,

according to public records.

“We are entering into this

newly formed partnership

with great excitement and

expectations,” said Neil Cun-

ningham, senior vice presi-

dent, global head of real estate

and natural resources, at PSP

Investments. “We are looking

forward to working closely

with Starlight and Aimco to

assemble a large, profession-

ally managed, institutional

quality portfolio of multifam-

ily properties in select U.S.


“Aimco is pleased to enter

the partnership and excit-

ed about the opportunity

to expand our multifamily

footprint to new markets,”

added Micheal Dal Bello,

senior vice president, real

estate, of Aimco. “The part-

nership capitalizes on the

synergies of our respective

investment programs and

creates a long-term plat-

form to generate the returns

required of our clients and


The partnership was

formed to acquire recently

constructed, garden-style

communities in Atlanta;

Austin and Dallas, Texas;




Tampa, Florida; and Phoe-

nix. Specifically, the partner-

ship will target submarkets

that demonstrate superior

rental income growth poten-

tial due to positive multi-

family dynamics, including

compelling population, and

economic and employment


Partnership pays $121.6M for Parkhouse

by Jill Jamieson-Nichols

A global real estate invest-

ment adviser paid $87 mil-

lion, or $390 per square foot,

for a new, fully leasedClassA

office building near the Dry

Creek light-rail station.

Bentall Kennedy pur-

chased the seven-story build-

ing at 9151 E. Panorama Cir-

cle in Englewood on behalf of

Warba Bank KSCP. A build-

to-suit for Arrow Electronics,

which has a 15-year lease, the

building is expected to be cer-

tified LEED Silver.

Miller Global Properties

sold the asset, which was

completed in early 2017. The

modern building features

open-concept floor plans

with column-free rectangular

floor plates, floor-to-ceiling

windows and continuous

glass lines. It sits on an elevat-

ed site with mountain views.



include a fully equipped fit-

ness center; large, full-service

café; one level of under-

ground executive parking;

and an attached five-story

Bentall Kennedy buys Arrow building

A Canadian partnership between Starlight Investments, Public Sector Pension Investment Board and

Alberta Investment Management Corp. purchased the 465-unit Parkhouse Apartment Homes in


Arrow Electronics leases the new building at 9151 E. Panorama Circle in Englewood.

Please see Parkhouse, Page 12 Please see Arrow, Page 10


Multifamily 4 Office 8 Retail 11 Industrial 14 Rebchook RE Corner 19 Boulder County 20 Larimer & Weld Counties 22 Colorado Springs 23 Law & Accounting 24 Finance 26 CDE 28 Who’s News 36