This Week's Denver Deal Sheet
Amplify Development has purchased the Vista Apartments, an 84-unit, 284-bedroom apartment building at 1920 South University Blvd. across from the University of Denver, for $41.3M. The nine-story building, which was built in 2008, also includes two levels of above-grade parking.
Amplify plans to renovate all 84 units at the building, which primarily serves young professionals and students living off campus. Capstone Management Partners will manage the property.
PEOPLE
Leslie Duchene joined M&T Realty Capital Corp. as managing director and Federal Housing Administration chief underwriter. Previously, she had been managing director and FHA program manager for CBRE’s FHA lending platform.
SALES
Flywheel Capital sold a 289K SF office/flex and industrial manufacturing portfolio in Colorado Springs to a private partnership for $54.3M. The portfolio is made up of two fully leased two-story buildings at 10125 and 10205 Federal Drive. Cushman & Wakefield’s Aaron Johnson and Jon Hendrickson represented the seller.
LEASES
PrimeSource Building Products leased 170.3K SF at HighPoint Elevated, an industrial park under construction in Aurora, Colorado, with plans to relocate from its facility at 12950 East 38th Ave. in Denver.
CONSTRUCTION AND DEVELOPMENT
Thompson Thrift announced the development of Premier at West Park, a 336-unit luxury multifamily community 3 miles southwest of downtown Greeley. The 21-acre site will offer one-, two- and three-bedroom apartment units within 10 three-story buildings.
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Wood Partners announced the groundbreaking of Alta Mile High, its $90M, 216-unit development just south of Mile High Stadium on Morrison Road. Construction is already in progress, with a planned opening in early 2025.
FINANCING
A JLL Capital Markets team led by director Rob Bova secured a $24.26M construction loan for the development of the 32nd and Eliot Apartments, a 124-unit luxury multifamily community in Highlands. JLL represented the borrower, Trailbreak Partners, to secure the financing through FirstBank.
