Colorado-Real-Estate-Journal_330353

Page 12 - March 1-14, 2023 www.crej.com recent sales Details available at www.NorthPeakCRE.com WE’RE A COLLECTION OF EXPERIENCED REAL ESTATE BROKERS COMMITTED TO RELATIONSHIPS BUILT ON RESULTS. For more information on these investments or if you are interested in a free Property Valuation to determine your asset’s worth in today’s market, contact us today at 720-738-1949 or Info@NorthPeakCRE.com . Email: Info@North PeakCRE.com | Phone: 720.738.1949 | Office: 1720 S. Bellaire St., Suite 701 Denver, CO 80222 1410 Marion Street Denver, CO 80218 $12,500,000 | 40 UNITS | 53,044 SF Just Listed Just Listed Just Listed Just Listed 1451-1459 Detroit St. Denver, CO 80206 $8,700,000 | 37 UNITS 1424 Pennsylvania St. Denver, CO 80203 $6,900,000 | 23 UNITS 2055 Reading Rd. Cincinnati, OH 45202 $3,165,000 | OFFICE 7858; 7946-8012 Woodmen Center Hts. CO Springs, CO 80908 $4,800,000 | RETAIL 1480 Clermont St. Denver, CO 80222 $1,635,000 | 6 UNITS 1571 Beeler/1641 Alton Aurora, CO 80010 $6,300,000 | 84 UNITS 551 S Fairfax St. Denver, CO 80246 $2,350,000 | 13 UNITS 2330 E 12th Avenue Denver, CO 80206 $4,250,000 | 17 UNITS | 14,544 SF 2001-2019 Carmel Dr. Colorado Springs, CO 80910 $13,485,000 | 87 UNITS | 46,328 SF 1115 Logan Street Denver, CO 80203 $6,595,000 | 28 UNITS | 11,820 SF Multifamily by Jenna Walters SNOWMASS VILLAGE – The majority of the for-sale residential units at the Cirque Residences at the Viceroy Snowmass develop- ment sold within the first week of being on the market. Colorado-based developer East West Partners announced 41 of the 46 residential units at its Cirque x Viceroy project sold within eight days. With the units priced between $2.5 mil- lion and $11.75 million, their sales reached over $150 million in the first five days of sales, East West Partners noted. The buyers of the 41 units are based across the country, including in Miami, Los Angeles, Northern California and neighboring Aspen. There were also multiple international buy- ers, including from Mexico and Brazil. Slifer Smith & Frampton Real Estate is handling the mar- keting efforts and sales transac- tions. Located at Snowmass Base Village, Cirque x Viceroy offers two-, three- and four-bedroom floor plans ranging in size from 1,189 to 2,386 square feet. Owners will have access to the full-service Viceroy Snowmass amenities and services, including multiple on- site restaurants, in-room dining, a year-round heated pool and spa, world-class spa, fully equipped fitness center, full-service ski valet and an on-site concierge. Con- struction began in November, and the residences are slated for completion in the third quarter of 2024. East West Partners is col- laborating with Aspen Skiing Co. and KSL Capital Partners on the project. “One of the biggest differentia- tors with Cirque x Viceroy is that the project is attached to a brand that offers unparalleled service and amenities and has a loyal fol- lowing of luxury clientele,” said Taylor Burstyn, Slifer Smith & Frampton lead listing broker for Cirque x Viceroy. “That, coupled with low inventory levels and the demand for new construction in the coveted Aspen Snowmass market, really built unprecedent- ed excitement and interest in the project that led to incredible suc- cess when we launched sales.” Other News n COLORADO SPRINGS – Pinnacle Real Estate Advisors’ Michael Krebsbach exclusively brokered the sale of a 120-unit multifamily portfolio in Colorado Springs. Cross Mountain Capital acquired the portfolio, comprising the 62-unit Arroyo apartments at 1429 Potter Drive and the 58-unit Midtown Flats property at 3950- 3960 Galley Road, for $16.55 mil- lion from an undisclosed seller. The Arroyo apartment complex is an exterior hallway, walk-up building that comprises approxi- mately 40% one-bedroom units and 60% two-bedrooms. Mid- town Flats is a vacant two-hall- way building with pitched roofs and solar panels. The seller com- pletely gutted it before closing. According to Krebsbach, the buyer plans to complete signifi- cant renovations at Midtown Flats and lease the building back up. He estimates the project will take approximately six months. The buyer also will make improve- ments to Arroyo and likely will increase rents at both properties, Krebsbach noted. The sale was part of the sell- er’s 1031 exchange. It will trade into an early 2000s-built multi- family property in Fort Collins, Krebsbach noted, adding that he is not involved in that deal. n DENVER – A Marriott- branded hotel property in Denver could soon become multifamily housing. A concept plan submitted to the city outlines plans to convert the long-term stay hotel at 3699 Monaco St. into apartments. The plan, submitted by Steve Ferris of Real Estate Garage and Erin Bagley of Three Wall Capital, includes converting the hotel’s existing 112 rooms to 112 apart- ment units across two three-story buildings totaling 65,000 square feet. The plan also proposes 112 new parking spaces. The plan specifies an estimated construc- tion timeline, with a March 1 start date and Oct. 1 completion. The concept plan lists Denver SE Property LLC as the property owner. Property records show the owner purchased the asset in 2019 for $10.5 million. Cur- rently, the property operates as the TownePlace Suites Denver Southeast hotel, part of the Mar- riott Bonvoy collection. The prop- erty offers various room types and amenities, including a fitness center, outdoor pool and on-site restaurant. n PUEBLO – D and S Real Estate Investments LLC is the new owner of a 24-unit portfo- lio comprising six duplexes and three quadruplexes at 1411-1434 Anita St. in Pueblo. The buyer acquired the asset from Hillville Investments LLC for $3.2 mil- lion. Lee Wagner of Capstone exclusively brokered the transac- tion. Ari Schriger of WCM Com- mercial placed financing for the value-add deal, according to Cap- stone. Built in 1994, the duplexes fea- ture two-bedroom, one-bathroom units, while the 1993-built qua- druplexes offer 1,050-sf three- bedroom, two-bathroom units. According to Wagner, the 1031 exchange buyer plans to improve the property through unit ren- Snowmass Village residential project sells majority of units Cirque Residences at the Viceroy Snowmass sells 41 of its 46 residential units. Please see D and S, Page 14