This Week's Denver Deal Sheet: One City Block Apartments In Uptown Sells For $95M
CBRE arranged the $95M sale of One City Block, a 302-unit apartment community occupying a full city block at 444 E. 19th Ave. in Denver’s Uptown neighborhood. The property, which includes over 10K SF of ground-floor retail and a below-grade parking garage, was 95% occupied at the time of sale, according to a CBRE press release.
The seller, a global investment manager, was represented by CBRE’s Shane Ozment, Terrance Hunt, Chris Hart and Brad Schlafer.
InterCapital Group and Pamera North America acquired the property, citing its location and unique design features, including four four-story buildings with amenities like a lap pool, fitness center and rooftop decks across the property.
One City Block was built in 2013 in the former Cathedral Grade School.
PEOPLE
Civil engineering firm Short Elliott Hendrickson Inc. promoted Steve Winters to vice president and West regional leader, overseeing growth in Arizona, Colorado, New Mexico and Wyoming. With over 21 years of experience, Winters has led numerous infrastructure projects and was instrumental in SEH’s 2019 merger with Russell Planning & Engineering.
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Henry Group Real Estate promoted Amanda Tompkins to senior vice president, pointing to her achievements in retail and office real estate transactions.
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Denver Commercial Property Services named Jim Ellis to head its construction services division. Ellis brings expertise in managing large-scale projects, positioning DCPS to handle complex commercial and multifamily developments.
SALES
Pinnacle Real Estate Advisors brokered the $4.3M sale of a 15K SF mixed-use property at 1229-1235 S. Broadway in Denver. The property was purchased by Revesco Properties in 2017 and recently underwent a comprehensive renovation.
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Unique Properties Inc. completed the $5.4M sale of a 24.5K SF industrial warehouse at 11601 E. 33rd Ave. in Aurora. Trane occupies the property under a long-term single-tenant lease.
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Pinnacle Real Estate Advisors announced the $3.2M sale of the 14-unit Lighthouse Apartments at 6130 W. 40th Ave. in Wheat Ridge. The complex was built in 1956 and has a mix of two- and three-bedroom units. The buyer assumed an existing low-rate loan, according to a press release. Pinnacle’s Jim Knowlton and Gunnar Wilson represented the seller and buyer, respectively.
