This Week's Denver Deal Sheet
Wood Partners broke ground on Alta Addison, a newly announced multifamily development at 7399 South Addison Court in Aurora. The 186-unit project is directly adjacent to Aurora’s 25-acre Red-Tailed Hawk Park and was designed by lead architect Hord Coplan Macht.
Alta Addison will feature a range of amenities from “micro-offices” to a pet spa, according to a press release from the developer. Pre-leasing of Alta Addison’s one-, two- and three-bedroom units is scheduled to begin in late 2023, ahead of a planned opening in 2024.
CONSTRUCTION AND DEVELOPMENT
The Dinerstein Cos. announced plans for Atlas Longmont, a 371-unit apartment community at 301 First Ave. in Longmont. The property, which spans about 12 acres, will feature multiple structures, including 10 three-story buildings, one four-story building, and one two-story leasing and amenity building.
PEOPLE
John Covert has joined Cushman & Wakefield as a director in the firm’s Denver office, where he will join its new Rocky Mountain land services division. Previously, he served as advisory principal at Zonda.
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Brian Wilson has joined Bow River Capital as a managing director, where he will work with Managing Directors Pat Blasdell and Nick Koncilja on the firm’s real estate team.
SALES
Westwood Financial acquired The Shops at Walnut Creek, a 225K SF Westminster shopping center anchored by a Super Target, for an undisclosed price. CBRE’s Brad Lyons represented the seller, InvenTrust Properties.
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Catawba Properties LLC purchased 6575 Oakwood Blvd. in Colorado Springs, a 14.4K SF property on 5.79 acres, for $2.65M. Trevey Commercial Real Estate’s Nick Beach and Nick Nickerson represented the seller, FPG Colorado LLC. The Zall Co.’s Greg Nevins represented the buyer.
FINANCING
Invesco Real Estate Income Trust Inc. and Emigrant Bank provided a $52M co-originated loan to Stonemont Financial Group to finance Stonemont’s purchase of a distribution and warehousing facility in Aurora. Invesco provided a $13M mezzanine loan, and Emigrant provided a $39M senior loan. According to a press release, the 100% leased, 478K SF property is close to Denver International Airport and serves as a processing hub for last-mile delivery, as well as serving other larger regional distributors.
THIS AND THAT
Kansas City-based architecture and design firm Populous celebrated the opening of the 77K SF recreation center it designed for the city of Aurora at 25400 East Alexander Drive. The project, which features the city’s first indoor field house, cost $41.9M.
