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DENVER-Two apartment complexes in northern Colorado get non-recourse, high-leverage loans with a 7.25% fixed rate, a combination construction and permanent financing carrying a 40-year term with a 40-year amortization.
ASPEN, CO-The upscale Aspen Club Lodge lands a new owner and management company, a move coming shortly after completion of a $2-million renovation. Northridge Capital has bought the property from IRG Aspen LLC. The deal puts Kimpton Hotel and Restaurant Group in as manager.
DENVER-It's all in the eye of the beholder, or in this case, the statistics. Cushman & Wakefield's latest report puts the southeast market ahead of the CBD. Not so, says an official of the Downtown Denver Partnership.
BROOMFIELD, CO-A NY-based real estate investment firm is pumping $50 million into a 23-acre office campus at US 36 in this bedroom community of Denver. The existing former ski booth factory will be razed to make way for the project.
DENVER-More than $150 million is being spent to develop two multifamily complexes with a combined total of over 1,000 units. Jumping on Central Platte Valley's development bandwagon are Denver-based Archstone Communities and Houston-based Greystar Capital.
DENVER-Denver Academy is paying slightly more than $6 million for the 21-acre campus of the former Bethesda Hospital at 4400 E. Iliff Ave. in southeast Denver. The property has been vacant for two years.
FT. COLLINS, CO-Cytomation Inc., an international biotech instrumentation company, is doubling the size of its headquarters in this northern Colorado city. The $3-million, 27,000-sf project is positioned adjacent to its 11,000-sf manufacturing facility.
DENVER-The end gets closer for the landmark 100,000-sf Currigan Hall, designed to be taken apart and rebuilt like a Tinker toy, with a board nixing a city-civic plan to relocate it across the street to the Auraria Higher Education campus. The city's planning director and a preservationist architect says they will continue to court relocation suitors.
DENVER-AIMCO sets the stage for heightened fiscal flexibility by finalizing a $97.6 million stock conversion of preferred securities to Class A common stock. The apartment REIT's shares previously have been included in its count of full diluted shares so the action does not affect that total.