Office 4 Industrial 8 Multifamily 12 Retail 18 Finance 30 Law & Accounting 38 CDE News 44 Who's News 54 Portfolio buy Colorado-based buyer acquires six-property MF portfolio INSIDE Planned project Developer to build 200,000-square- foot Class A industrial facility Value-add Armstrong Capital Development buys, will update retail asset 20 10 14 FEATURED Lease-up Amp Robotics signs full-building lease in Colorado Tech Center 8 CONTENTS DECEMBER 15, 2021-JANUARY 4, 2022 by Jenna Walters A global asset management company’s real estate invest- ment trust acquired a luxury apartment building in Centen- nial. DWS’ RREEF Property Trust acquired The Glenn, the 306- unitpropertyat 9300E.Mineral Ave., fromseller TARealty. The asset traded for $128.5 million, or $420,000 per unit. Jordan Robbins and Pamela Koster of JLL brokered the transaction. The Glenn offers a mix of studio, one-, two- and three- bedroom units ranging from 460 to 1,511 square feet.At clos- ing, 93.5% of the units were leased. Community amenities at the property include a resort- style pool and spa, fitness cen- ter, business center, Zen gar- den, outdoor lounges, and a dog grooming facility, among others. Built in 2018, the build- ing represents one of the first projects within The District, a planned 2.5 million-sf mixed- use development. According to Robbins, the JLL team marketed the property for sale and it garnered sig- nificant inter- est due to its location with d e s i r a b l e surrounding demograph- ics and walkability to public transportation and various retail and entertainment ame- nities. Todd Henderson of RREEF Property Trust agreed that the location was a driving force in the deal, saying, “Acquir- ing a well-located multifamily asset in one of the strongest job growth corridors in the Moun- tain West aligns with our port- folio strategy for the REIT. We continue to remain constructive on the multifamily sector as we believe strong residential mar- ket fundamentals in the U.S. will continue due to low cur- rent vacancy rates, low hous- ing supply and a disciplined construction pipeline.” s REIT snags luxury asset for $128.5 million by Jenna Walters DENVER – Developer East West Partners, in collabora- tion with the Buell Foundation and Taubman Realty Group, announced plans for an esti- mated $1 billion mixed-use redevelopment of the land immediately west of Cherry Creek Shopping Center in Denver’s Cherry Creek neigh- borhood. Upon completion, Cherry Creek West will comprise several buildings on 13 acres bounded by University Bou- levard, Clayton Street, First Avenue and the Cherry Creek waterway. While exact site plans are not finalized, Amy Cara of East West Part- ners said the redevelopment is imagined to include seven buildings consisting primar- ily of office and multifamily space. Retail, senior housing and hospitality uses also are on the table. Additionally, an expansive outdoor green area and pedestrian walkways will allow for connectivity between the new development and existing businesses and resi- dences in Cherry Creek. “We will create a neighbor- hood that e n h a n c e s the entire community by bringing it together with the creek and the shopping center, with a focus on people over cars,” said Cara. “We are thrilled to bring our vision for a vibrant new 15-minute neighborhood to life on this prominent piece of real estate.” “As the local company that also served as the co-master developer of the Union Station neighborhood, we will create a terrific place to live and work that puts the pedestrian first, embraces the outdoors and is at the forefront of sustainabil- ity,” added Chris Frampton, CEO of East West Partners. “Cherry Creek West will cre- ate a place that can be an asset to everyone as the neighbor- hood’s new front yard and a new gateway to the commu- nity.” Developers plan $1B project in Cherry Creek A rendering gives a first look into a newmixed-use redevelopment near Cherry Creek Shopping Center. Amy Cara The Glenn is under new ownership. Jordan Robbins Please see Cherry Creek, Page 22