DENVER-Denver-based REITs have made a strong showing in the first quarter, particularly those with real estate holdings. Black Hawk Gaming and AmeriVest Properties hold lead positions for stockholder returns.
DENVER-Dirt's flying on the $80-million WorldPort, an air cargo facility at Denver International Airport. Brokers already have several letters of intent in hand from tenants who want an airport address.
DENVER-January 2000 still holds the best record for multifamily permit pulling in a decade, with this January's results coming in 41% lower. There's no cause for alarm because last year had been so hardy.
DENVER-It's a transitional year for Denver-based AmeriVest, which had its FFO drop but net income increase for 2000. Overall, the REIT's leaders are pleased in the changeover from a diversified portfolio to strictly office.
DENVER-CPS Investments has secured an 8.5-acre tract to develop a high-density residential project. The developer's not quite sure what's going to go in, but it won't include single-family lots. The development will cost upward of $150 million.
AURORA, CO-San Diego-based FF Realty has the keys to the 268-unit Duck Creek Apartments near Interstate 225. The property had been under option for six months. The near $14-million closing price would be a good deal on today's market.
DENVER-First Industrial has found new tenants for office properties in Broomfield and and Stapleton East Business Center. The deals fill 32,807 sf. For Neway Packaging, the signing represents a moderate expansion.
DENVER-Wellbridge, owners of Colorado Athletic Club, will make way for an Interstate 25 expansion project. The club will build a new facility three blocks away. Plans call for a $7-million, 40,000-sf development.
GRANBY, CO-Caribou Partners has unveiled its latest project, a $200-million, mixed-use development in a mountain town west of Denver. The plan calls for a 13-acre, grocery-anchored retail center and top-notch 18-hole golf course.
SILVERTHORNE, CO-A Canadian-based development company has picked Silverthorne Mall for its inroad into the US real estate market. The 257,878-sf retail center, which is 88% occupied, brings in $112 per sf for seller Prime Retail.