This Week’s Denver Deal Sheet
Calmwater Capital provided The Prime Co. with $34M in first mortgage debt to refinance Oxford Vista, a recently built, 146-unit Class-A multifamily property located at 4201 S. Navajo St. in Englewood.
The 30-month, floating-rate loan was secured by the five-story infill development which was delivered to market by TPC in December 2023.
Oxford Vista is within walking distance of the Oxford Sheridan Light Rail station connecting the neighborhood with the major job hubs of Downtown Denver and Littleton via the D-Line on Denver’s RTD Light Rail system.
The property is also served by the nearby 135-acre River Point at Sheridan retail district offering more than 400K SF of shopping, dining, recreation and entertainment options.
FINANCING
Two Denver restaurant groups have raised equity capital to fund their next ventures, including expansions and an acquisition.
Gastamo Group, the brand behind Birdcall and Homegrown Tap & Dough, and The One Group, owners of STK Steakhouse and Kona Grill, raised a collective $166M last month.
LLCs associated with Gastamo Group raised $6M across four raises in March, according to filings with the U.S. Securities and Exchange Commission.
Homegrown Tap & Dough has three locations in Olde Town Arvada, Washington Park and Littleton. The pizzeria opened its most recent eatery in Littleton on Ken Caryl Ave.in 2022. Gastamo Group is also behind Park Burger, Park & Co., Lady Nomada and Perdida.
The One Group is also growing its local restaurant footprint. It signed a 7K SF lease in Cherry Creek earlier this year to open a second Denver-area STK Steakhouse.
PEOPLE
GH Phipps Construction Cos. announced Peter Speiser joined the company as chief financial officer April 29.
Speiser brings more than 25 years of experience in financial planning and analysis, leading financial initiatives and administering corporate-wide policies and business goals in a variety of industries.
His prior positions include chief operating officer at Olson Plumbing and Heating Co. and chief financial officer at GE Johnson Construction Co.
SALES
Unique Properties Inc./TCN Worldwide, announced the sale of 3800-3900 E. 48th Ave. in Denver for $5.8M, or $101 per SF. The property is a 57.8K SF industrial warehouse on 2.7 acres.
The buyer was represented by Taylor Roy of Malman Commercial, and the seller was represented by Greg Knott and Earl Duffy with Unique Properties Inc. and TCN Worldwide, respectively.
CONSTRUCTION AND DEVELOPMENT
Monfort Cos. announced a way to preserve the exterior of Denver’s historic El Chapultepec building at 1962 Market St. Historic Denver filed a landmark designation for the former site of the historic jazz club, meant to prevent the structure’s demolition.
While details are being finalized, the new proposed design would preserve significant portions of the original brick and iconic signage on the corner of Market and 20th streets as well as a portion of the original materials of the north- and west-facing walls.
The building’s original envelope and silhouette will also be echoed through a new glass structure with a brick pattern etched into the glass at the upper level to provide the impression of the 130-year-old brick continuing along the street but in a new and contemporary material.
THIS AND THAT
Gorjana, a California-based jewelry brand, will open two new Colorado retail stores on July 15, the first at Boulder’s Twenty-Ninth Street shopping center and the second at Lone Tree’s Park Meadows mall. The move comes after the company opened a store in Denver earlier this year.
The 1K SF store in Boulder will be located at Twenty-Ninth Street, while the 900 SF location in Park Meadows will become part of Colorado’s largest indoor shopping destination.
