1 / 48 Next Page
Information
Show Menu
1 / 48 Next Page
Page Background Making history A joint venture will combine a 17th Street office building’s historic features with modern office space and amenities

Inside

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.

markets.”

“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

stakeholders.”

The partnership was

formed to acquire recently

constructed, garden-style

communities in Atlanta;

Austin and Dallas, Texas;

Denver;

Orlando

and

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

growth.

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.

In-building

amenities

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

Thornton.

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

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

CONTENTS

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