This Week’s Denver Deal Sheet
Denver is among the top 10 cities with the most LEED-certified coworking spaces, according to a report from CoworkingCafe. Overall, the report found that Denver has 11 energy-efficient coworking spaces out of a total of 66 properties evaluated.
Analysts found that one of those buildings is at the certified level, which is the lowest designation offered. Four other buildings earned Silver status, and six others were certified LEED Gold because of “their quality and commitment to providing healthy and sustainable commercial real estate options,” the report said.
PEOPLE
Walker & Dunlop laid off 8% of its workforce this week, a move that impacted approximately 110 employees. The company cited rising interest rates and general market volatility as two reasons for the move.
SALES
Boulder’s velodrome cycling track is under contract with a buyer in the cycling industry, the Denver Business Journal reports. It is unclear how much the deal is worth, but the new owner has said it plans to open the track this summer if it can fund the necessary repairs.
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New Terrain Brewing in Golden purchased a new building at 16401 Table Mountain Parkway for $6M, according to property records. The brewery purchased the 19K SF building from ATR Properties LLC after its lease expired.
CONSTRUCTION AND DEVELOPMENT
A Kmart in midtown Fort Collins will be demolished to make room for a new 123K SF King Soopers grocery store.
FINANCING
Walker & Dunlop completed a $67M financing deal for the sale of the Springs at Castle Rock, a luxury apartment community. Dan Woodward, David Potarf, Matt Barnett and Jake Young of Walker & Dunlop helped arrange the deal on behalf of the seller, Centennial Properties. The buyer, MG Properties, was also represented by Walker & Dunlop.
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Bellwether Enterprise Real Estate Capital LLC, a commercial mortgage banking company, closed on more than $43.1M in financing for the construction of the 15 Sable apartment complex in Aurora. Anthea Martin, a senior vice president at Bellwether’s Denver office, originated the loan on behalf of buyers DBG Properties and Featherstone Development.
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The Loveland City Council approved a $155M tax increment financing deal with McWhinney Real Estate Services to fund the development of the proposed Centerra South, a mixed-use development along Highway 34. BizWest reports that the entire project will cost an estimated $1B.
