This Week's Denver Deal Sheet
Schuman Cos. acquired the north parcel of Loveland Outlets, a Loveland, Colorado, shopping center local news outlets called “beleaguered” and “mostly vacant,” for $15M from an undisclosed seller. Schuman will redevelop the 169K SF property into a multi-use complex called Loveland Yards, with retail, office and flex condos available for sale and lease. Condos are being marketed from $165 to $300 per SF.
The property, located just off the intersection of I-25 and Highway 34 in northern Colorado, is zoned to allow for retail, office and light industrial use. Schuman plans to close on an additional south parcel at a later date.
SALES
35 Inverness Drive East, a 65K SF office and industrial building in Englewood that remains fully leased to manufacturer Telodyne Technologies, sold for an undisclosed amount. A spokesperson for CBRE, which represented the seller, declined to name either party in the deal.
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California-based Amplify Development Co. sold University Lofts, a 36-unit mixed-use student housing property adjacent to the University of Denver campus, to an undisclosed buyer for $24.5M.
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Wheat Ridge’s 3330 Ames Street, a 22-unit apartment building constructed in 1958, sold for $4.47M.
CONSTRUCTION AND DEVELOPMENT
Capital Square announced the start of construction on Steamboat Springs’ Steamboat Basecamp, a 119-unit mixed-use multifamily property with 8K SF of retail.
FINANCING
Greystone provided a $30.4M Fannie Mae DUS loan to refinance Parkview Terrace Apartments, a 206-unit multifamily property in Thornton.
