DENVER—GlobeSt.com has learned that one of Denver's oldest and most venerable real estate developers, Koelbel and Co., along with its partner the Bascom Group, has sold The Breakers Resort to Pensam Residential and its partners, BH Equities LLC and Wafra Capital Partners. Brokered by ARA, a Newmark Co., the deal will restructure ownership and allow Koelbel and Co. to maintain its involvement in the future of the community as a minority owner.
The Freddie Mac financing was handled by Berkadia. According to a prepared statement, the Breakers property is one of the most dynamic apartment communities in Colorado and is the largest physical asset in metro Denver offering a nearly 190-acre site which spans 1,523 units among six villages, a privately owned lake and a 26,000-square-foot recreation center located within minutes of downtown Denver and Cherry Creek.
“Koelbel and Co. has always prided itself on a long term vision of legacy communities that add to and enhance the fabric of where we live,” says Koelbel and Co. president, Walter A. 'Buz' Koelbel, Jr. “Continuing our 26-year involvement with a community as unique as the Breakers certainly captures our philosophical approach.”
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Natalie Dolce
Natalie Dolce, editor-in-chief of GlobeSt.com, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.
