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The Delaware Street Townhomes in Denver’s South Broadway neighborhood changed hands this week for $10.45M.
CBRE’s Erik Toll, Justin Hunt, Andy Hellman, Brad Schlafer and Jessica Graham represented the seller, Pando Holdings. The buyer was Hill Street Realty, a privately held real estate investment firm headquartered in Los Angeles.
“At the initiation of the sale assignment, the newly constructed Delaware Street Townhomes was in lease-up amid an unclear and volatile market,” Toll said in a press release. “Treasuries rose nearly 60 basis points from the point of listing to closing, posing clear financing challenges.”
PEOPLE
CBRE hired two new vice presidents to its capital markets division in Fort Collins: Jason Ortiz and Tyler Swenson. Ortiz has more than 18 years of industry experience and most recently worked as a vice president at Cornerstone Real Estate Investment Advisors. Swenson has more than 20 years of experience in executive-level positions and previously co-founded Town & Country Bank.
SALES
NorthPeak Commercial Advisors brokered the sale of a four-unit multifamily property at 1330 Downing St. in Denver for $890K. NorthPeak’s Austin Bengford, Greg Johnson and Conner Piretti worked with the buyer and seller in the transaction.
LEASES
High Alpine Consulting extended its lease on a 1K SF office space at 7400 East Arapahoe Road in Englewood. Newmark’s Reed Mclaughlin, Thomas Lee and Jonathan Tilton represented the tenant.
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Rocky Mountain Connections signed a new lease on a 1.4K SF office space at 2997 Broadmoor Valley Road in Colorado Springs. Newmark’s Tim Agee and Caroline Nowack represented the tenant.
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NAI Shames Makovsky brokered a lease on a 2.9K SF restaurant space for breakfast and lunch concept OneFold. NAI’s Paul Cattin, Adam Hubschman and Solomon Stark represented the tenant.
THIS AND THAT
Marriott finished renovating its 146-room Courtyard property at 7415 East 41st Ave. in Denver. The renovations included upgraded furniture and bedding in the guest rooms, new equipment in the 24-hour fitness center and new offerings at the property’s bistro.
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