This Week's Denver Deal Sheet: Revesco Plans 3 Multifamily Projects

Revesco Properties and Alpine Investments will open two Akin-branded apartment buildings in Denver this month, part of a push to develop smaller, boutique multifamily projects in high-demand areas.

The first two properties are in Berkeley at 4560 Tennyson St. and the Golden Triangle at 955 Bannock St. A third site at 740 S. University Blvd. in Bonnie Brae is expected to break ground in April.

"Our goal here is to build the Akin portfolio into ... a true portfolio over the next five years," Alpine Managing Partner Churchill Bunn told the Denver Business Journal. "And that might also be through a few acquisitions, not just development."

The developers plan to expand the Akin brand to 10 to 12 locations in the coming years, with Cherry Creek, Boulder, Littleton, Golden and Fort Collins among potential future sites, the DBJ reported.

The Golden Triangle project is an 11-story, 97-unit building that was initially planned as an office development before shifting to multifamily. The Berkeley site will feature 84 units across three stories, with 10K SF of retail space. The Bonnie Brae project will include 46 units and 9K SF of retail.

Cohen & Steers, a New York-based investment firm, is an equity partner in the Tennyson and Golden Triangle properties, while a financing deal for Bonnie Brae is being finalized. 

CONSTRUCTION AND DEVELOPMENT

Landsea Homes has started construction on 32 single-family homes in the Cherry Meadows master-planned community in Brighton. The homes, ranging from 1,470 SF to 2,940 SF across eight floor plans, will be available for sale this summer. Prices are scheduled to start in the $400K range. The community offers smart home automation features and energy-efficient design. Landsea Homes is also selling its final homes at Parkway at Prairie Center Village, another Brighton development.

***

VanTrust has started construction on Falcon Commerce Center, a two-building, 364K SF Class-A industrial development in Monument. It is the first Colorado project for the Kansas City, Missouri-based company. The development, located near Interstate 25 and adjacent to the U.S. Air Force Academy, will feature Building A, a 250K SF cross-dock speculative facility, and Building B, a 114K SF warehouse with a rear-load dock. JLL and NAI Highland Commercial are handling leasing. Building B is expected to deliver in the first quarter of 2026, with Building A following in the second quarter.

SALES

Pinnacle Real Estate Advisors arranged the $2.9M sale of a 14K SF industrial property at 5801 S. Curtice St. in Littleton. The seller, 5801 South Curtice LLC, was represented by R.C. Myles, Craig Myles, Debbie Brinkman and Joe Owston of Pinnacle, while Mike Wafer Jr. of Newmark represented the buyer. The downtown Littleton property went under contract within a day of hitting the market.

***

Plans to auction Lumen Technologies’ 55-acre office campus at 1025 Eldorado Blvd. in Broomfield have been postponed, according to the Denver Business Journal. Originally scheduled for late February, the auction is now set for April 21, though Lumen is reevaluating the process, a company spokesperson said. The 792K SF campus in the Interlocken Business Park includes two parking garages and a 9.5-acre undeveloped lot. If the auction proceeds, the starting price will be $6.5M.

LEASES

Goodman Commercial Real Estate secured a 23K SF industrial lease at 5301 Bannock St. in Denver. The 10-year triple-net lease, valued at $6.5M, was signed by a manufacturer of asphalt emulsions. The property includes a rail spur with a four-car capacity and 3.9 acres of yard space. Mark Goodman and Drew Goodman represented the landlord in the transaction.

RETAIL

Woods Market is opening its first Colorado location Wednesday at Ledge Rock Center in Johnstown. The 85K SF grocery store at 4330 Ledge Rock Drive will feature a taproom with live music, nine restaurant concepts and discount warehouse groceries. CBRE’s Melissa Moran and Molly Bayer represented the landlord, Carson Development, in leasing the space. Ledge Rock Center, a new mixed-use development at State Highway 60 and Interstate 25, includes more than 1,200 residential units and retail.

PEOPLE

Greenberg Traurig has added four litigators from Polsinelli to its Denver office, including an attorney who has defended real estate developers. Stacy A. Carpenter joins as head of the litigation practice, with experience in commercial litigation, class actions and real estate disputes. Michael P. Dulin, a specialist in intellectual property litigation, joins as shareholder, while Gina L. Tincher, of counsel, and associate Nicholas Banelli also join the firm.