This Week's Denver Deal Sheet
Amli Residential will build a 16-story, 366-unit, LEED Gold-certified apartment tower with ground-floor retail on the 800 block of North Broadway. The project will be built on a 63K SF site at 815 and 899 Broadway on a ground lease from Lake Street Partners.
Amenities will include a bike café, sky deck and pool, as well as a pet courtyard with views of downtown. Travis Hodge and Tony Bobay of Capstone Colorado Land Team brokered the transaction. Davis Partnership is the architect and the general contractor is Milender White.
PEOPLE
Tower Capital, a commercial real estate financing company headquartered in Scottsdale, Arizona, opened a Denver office and named Steve Chiles as its senior managing director.
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Matthew Archuletta was promoted to regional director of The Beck Group’s Denver office, the first Latino man to assume the role. Archuletta was previously a project executive at the company.
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JLL’s Valuation Advisory group hired Adam Dembowitz as managing director in its Denver office, where he will manage that group’s services across all property types in the Western region.
SALES
The Vicinity, a 45-unit multifamily property at 1010 East 13th Ave. in Denver sold to an undisclosed buyer for $11M. Brandon Kaufman and Will Scherman with Kaufman Hagan represented both parties in this transaction.
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An undisclosed Colorado-based private investor acquired the 40K SF Springs Ranch Shopping Center at 6010-6080 North Carefree Circle in Colorado Springs, Colorado, for $8.3M. CBRE's Parker Brown, Matthew Henrichs and Brad Lyons represented the sellers.
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An undisclosed San Diego-based investor acquired Peterson Square, a 14K SF, fully leased shopping center at 6809 Space Village Ave. in Colorado Springs, in a 1031 exchange from a Denver-based fund for $5.55M. CBRE's Parker Brown, Matthew Henrichs and Brad Lyons represented the sellers.
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MIG Real Estate, headquartered in Newport Beach, California, purchased the DoubleTree by Hilton Hotel Breckenridge at 550 Village Road in Breckenridge, Colorado, from Vail Resorts. MIG retained Vail Resorts Hospitality to manage and operate the asset. CBRE Hotels’ Mark Darrington and Larry Kaplan brokered the sale.
THIS AND THAT
Denver-based Pivot Energy plans to build a five-megawatt, 24-acre solar energy facility in Boulder County, Colorado, as part of a contract with Xcel Energy. Pivot will own and operate the facility on property east of Highway 119 and south of Highway 52 for its operational life, expected to be 25 years to 35 years.
