Office 4 Multifamily 8 Industrial 18 Retail 22 Finance 34 Law & Accounting 40 CDE News 46 Who's News 57 Logistics park Hines buys 60 acres, plans new Class A project INSIDE Suburban push RedPeak Properties picks up Arvada apartments Campus sale Flywheel Capital acquires four- building office asset 6 10 20 FEATURED Growing portfolio Pathfinder Partners adds DTC community to holdings list 8 CONTENTS NOVEMBER 3-16, 2021 by Jenna Walters ENGLEWOOD – A national property investment and man- agement company acquired an apartment community in the Denver Tech Center, adding to its growing Colorado portfolio. The Laramar Group pur- chased Avery Park, the 296- unit property at 9959 E. Peak- viewAve. in Englewood, from San Diego-based seller The ConAm Group. The proper- ty traded for $92.15 million, or $311,317 per unit. Pamela Koster and Jordan Robbins of JLL brokered the transaction on behalf of the seller. Built in 1979, the property comprises 23 buildings offer- ing a mix of one-, two- and three-bedroom apartments averaging 890 square feet. The units feature updated finishes, in-unit washers and dryers, and patios or balconies. Community ame n i t i e s include a fit- ness center, yoga room, pool, picnic area with grills, play- ground, and on-site manage- ment and maintenance ser- vices. The property was 97% occupied at closing. According to Koster, the JLL team began marketing the property for sale in June and it garnered significant interest. She attributed the interest to the property’s location within the Cherry Creek School Dis- trict, along with its amenity options and parking ratio, at 1.17 per unit. The Laramar Group plans to invest in unit and common area improvements, Koster noted. The buyer adds the asset to a national portfolio includ- ing more than 20 multifamily properties in Denver. Earlier this year, it acquired City Gate Apartments, a 241-unit com- plex in Denver’s River North neighborhood, for nearly $84 million. s The Laramar Group snags DTC apts. for $92M by Jenna Walters DENVER – Developers broke ground on the largest high-rise apartment commu- nity in the Denver metro area by unit count. Grand Peak Properties, in partnership with OZ Architecture and general contractor The Weitz Co., began construction on an 802,000-square-foot multi- family and hotel project at the intersection of West 26th Avenue and Alcott Street in Denver’s Jefferson Park neighborhood. Located at the former site of Mexican restaurant La Loma, the $250 million project will total 626 units, 533 of which will be designated as for-rent apart- ments, while the remaining 93 will serve as an apart- ment-style hotel. Upon its completion, the 15-story development will offer a mix of studio, one- and two-bedroom units with high-end appliances and spacious living areas. Community amenities will include a third-floor amenity deck with an outdoor pool, fitness area, yoga studio, media and game rooms, a club room and two court- yards. Additionally, top-floor amenity space will offer resi- dents expansive views of the Developers begin record-setting project The Laramar Group expanded its Colorado multifamily portfolio with the purchase of Avery Park. Pamela Koster A new development in Denver’s Jefferson Park neighborhood will feature 533 for-rent units and 93 apartment-style hotel rooms. Please see Jefferson Park, Page 30