A Hawaii-based family ownership group that recently purchased an industrial building in Littleton made another Denver metro buy.
Kapuahelani bought a 29,700 SF light industrial building with about 1.5 acres of secured outdoor storage for $9.8M. The property at 7950 Miller Drive in Frederick is located near Interstate 25, about 28 miles north of Denver.
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Seller Bear Peak Development, a Boulder-based real estate developer, acquired the vacant 4-acre site in 2022 and developed the multitenant industrial building.
The property is leased to Millennium, a national distributor of fiber-optic broadband products, and Mistras Group, a publicly traded company that offers asset protection and industrial services.
Cushman & Wakefield represented Kapuahelani in this deal.
PEOPLE
Real estate investor and developer Realberry hired Layne Hirsch as managing director of private capital. Hirsch previously worked for Apollo Global Management, leading the company’s fundraising efforts across the Pacific West.
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Denver-based Prime West hired Chris Payne as senior vice president of investments. For more than 15 years, Payne has overseen $2B in real estate projects in Chicago and the Mile High City.
SALES
Civic Lofts sold for $30M to an entity tied to FPM Partners, a Los Angeles-based private equity firm. The 176-unit apartment building at 360 W. 13th Ave. last sold in 2021 for $63M, according to property records.
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Los Angeles-based multifamily investment firm TruAmerica Multifamily purchased WestLink at Oak Station, a 244-unit apartment building in Lakewood. The property sold for $71.5M, according to the Denver Business Journal, less than the $63M it traded for in 2016.
FINANCING
BMC Investments and Oak Coast Properties secured a $46.25M loan to refinance Aspen Park, a 388-unit multifamily complex in Northglenn. The Walker & Dunlop Capital Markets team helped secure the loan.
THIS AND THAT
Denver-based general contractor Pinkard Construction joined Catamount Constructors, a national employee-owned company. Founded in Colorado in 1962, Pinkard works in the office, healthcare, multifamily, senior living, affordable housing, education and advanced industries sectors.
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Hopscotch Beer Garden will open at Denargo Market, 3380 Denargo St., on July 11. The more than 17K SF beer garden features shipping containers used as the bar, lawn games, outdoor seating and a heated tent in colder months.
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