This Week's Denver Deal Sheet
JE Dunn Construction and SmithGroup broke ground on the U.S. Department of Energy’s National Renewable Energy Laboratory’s new Energy Materials and Processing at Scale facility, on NREL's South Table Mountain Campus in Golden.
The total budget for the EMAPS project is $224M. The 127K SF laboratory will enable collaboration with industry partners, universities and other Department of Energy laboratories to accelerate innovations in energy materials to market-ready products and processes.
The new research facility at NREL is expected to be completed in 2027.
CONSTRUCTION AND DEVELOPMENT
The Inspire Investment Group broke ground on the redevelopment of The All Inn Hotel at 3015 E. Colfax in Denver. Formerly the Fountain Inn, the motel has gone through many changes over its 65-year history and was perhaps best known for the Rockbar, a popular night club on the ground level.
The motel was officially closed in 2022. Over the next 14 months the building and surrounding lot will be transformed into a 54-room independent hotel to be operated by Life House Hotels.
The project is being constructed in cooperation with the Denver Urban Renewal Authority, the city and county of Denver, the Colorado Historical Foundation, PACE Equity, the Colorado Clean Energy Fund and The Sherwin-Williams Co. The project is eligible for state and federal historic tax credits.
SALES
Greenwood Village-based Dunton Commercial bought Prentice Plaza, a 162K SF, Class-A office building in the Denver Tech Center. The building at 8101 E. Prentice Ave. was 73% occupied at closing. The purchase price was $14.3M.
***
Equity Residential bought Arbour Square Apartments at 14770 Orchard Parkway in Westminster. The purchase price was $94.4M, according to the Denver Business Journal.
The seller, Chicago-based Revantage, is a corporate services company serving Blackstone Real Estate.
McWhinney broke ground on Arbour Square in 2010. The 7-acre multifamily site was dubbed the first 300-unit luxury apartment community in Westminster. McWhinney reportedly sold it for $62.2M in 2014. The property later traded hands for $80.5M in 2019.
***
California-based Fairfield Residential, through its Fairfield Parkfield entity, purchased the 30-acre Parkfield Apartment Homes Development in Denver’s Green Valley Ranch neighborhood for $120M.
Included in the sale is a release of a deed of trust associated with a $540M loan from Oversea-Chinese Bank Corp., the Denver Business Journal reports.
The loan was originated in 2019 for CLI, a Singaporean company associated with the ownership group that sold Parkfield Apartment Homes.
PEOPLE
Howell Construction promoted Jeff Engemoen to project manager and Dalton Klepper to project manager and assistant project manager.
Engemoen has been with Howell for over 11 years, working with clients such as the Denver Health & Hospital Authority and UCHealth. Klepper graduated from the University of Colorado - Denver with a Bachelor’s degree in civil engineering and a minor in construction management.
