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California-based investment firm Brixton Capital purchased The Windsor, a 352-unit community in Lakewood that includes two-story townhomes and apartments, for $124M this week. CBRE helped arrange $80.8M of the financing.
The community includes 59 buildings totaling more than 390K SF of leasable space. Each unit averages more than 1K SF and includes amenities such as direct-access garages, in-unit washers and dryers and nine- to ten-foot ceilings. The community was 95% occupied at the time of purchase.
“Lakewood is a highly sought-after destination within the Denver metro that provides residents with a community-driven environment and great schools, coupled with proximity to the largest employment nodes in the Denver MSA,” Brixton Capital Chief Investment Officer Rob Taylor said in a press release.
PEOPLE
CBRE promoted Jessica Ostermick to the firm’s Colorado market leader. Ostermick has been with the firm for eight years and is heavily involved in the Denver Metro Commercial Association of Realtors and the Urban Land Institute.
LEASES
Commercial real estate brokerage Tributary Real Estate renewed its lease for 3.3K SF of office space at 1416 Larimer St. in downtown Denver.
CONSTRUCTION AND DEVELOPMENT
The Nichols Partnership, BMC Investments and Vision Hospitality Group announced the Moxy Boulder hotel will open in the second quarter of 2024. The hotel is part of Marriott Bonvoy’s Distinctive Select portfolio and is designed to cater to “locals and adventure seeking travelers,” according to a press release.
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Pinkard Construction topped out on its 12-story multifamily development in Denver’s Golden Triangle neighborhood called Akin. The building includes 98 units and is expected to deliver in Q4 2024.
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Elevation Community Land Trust unveiled plans to build a 49-unit, permanently affordable condo building in Denver’s Five Points neighborhood called The Burrell. The building is named after Charles Burrell, who was the first Black member of a major American symphony: the Denver Symphony Orchestra. Condos at the building will start selling at $205K.
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