Colorado-Real-Estate-Journal_403667

Page 20 - June 5-18, 2024 www.crej.com Hotel Land by Avalon Jacka DENVER – A fully integrated real estate investment firm has leased nearly 100 units within a forthcoming luxury multifamily community to a short-term rental provider. Denver-based Grand Peaks leased 93 units within its Skyline at Highlands community, located at 2501 W. 26th Ave., to Sonder. The length of the lease on the units was not disclosed. Sonder offers apartment-style hotel stays in active urban areas. “We are thrilled to have Sonder at Skyline at Highlands,” Grand Peaks CEO Luke Simpson said. “They share our passion for creat- ing vibrant places where people can connect, explore and enjoy. Together, we're bringing an exceptional hospitality experi- ence to the heart of LoHi.” The partnership between Grand Peaks and Sonder elevates the standard of hospitality in the region and reinforces the allure of the Lower Highland neighbor- hood as a destination for residents and travelers seeking sophistica- tion and convenience, a statement from Grand Peaks said. Guests will have access to an array of the apartment community’s ameni- ties, including a resort-style pool and hot tub, a state-of-the-art fit- ness center and expansive open park spaces. The project marks Sonder’s fourth project in the Lower High- land neighborhood and fifth in Denver overall. The group pro- vides personalized experiences and allows guests to check in and request services from their phone. The company has approximately 9,000 units in more than 45 cit- ies around the world. Sonder has offices across the globe, with hub cities including Denver, San Francisco, Montreal, London and Amsterdam, according to its web- site. The Skyline at Highlands devel- opment is expected to open in late June. OZ Architecture is serving as the architect on the project, and The Weitz Co. is serving as general contractor. Grand Peaks is currently pre- leasing the remainder of Skyline at Highlands’ 533 units. The com- munity offers studios and one- and two-bedroom units. Com- munity amenities include a sky lounge, coworking space, gear storage, a movie room, a music room, a game lounge, garage parking, electric vehicle park- ing stations and a concierge. The neighborhood offers numerous restaurant options, including Blue Sparrow Coffee, Denver Beer Co., Fox and the Hen, and Uncle. Founded in 2003, Grand Peaks focuses on multifamily invest- ment and management through two vertically integrated enter- prises: Grand Peaks Properties Inc. and Grand Peaks Property Management Inc. The firm’s port- folio currently includes more than 10,000 units across 10 prominent U.S. markets. s Grand Peaks brings Sonder concept to Skyline at Highlands by Avalon Jacka SOUTH FORK – A mountain lodge has reopened following a rebranding and comprehensive renovations and additions. Renovations on Loge Wolf Creek, formerly known as Wolf Creek Ski Lodge, began in Sep- tember 2022 and were completed in May. The 51-room property had not undergone any previous renovations since opening in the 1980s. The renovation project cost approximately $6 million. Situated 15 miles east of the Wolf Creek ski resort at 31042 U.S. Highway 160, the 4-acre property features five structures totaling 28,000 square feet, includ- ing a building for standard guest rooms; two buildings for deluxe guest rooms; a building with coworking space, two-bedroom suites and commercial laundry; and a building with restaurant and bar space and a communal area. Owner Tommy Nigro pur- chased the lodge in 2021. The property “was in a state of disre- pair … and in dire need of a reno- vation,” Nigro said, but supply chain issues postponed the execu- tion of the renovations. With the renovations fully completed, local residents and visitors alike can use Loge Wolf Creek as a gather- ing space. “South Fork is a small town, and there is not really a pub- lic gathering space,” Nigro said. “That was really the business plan and my vision for why I thought this would be successful, because there are no other lodg- ing facilities with public meet- ing space in that region. There's really no place for locals to go and hang out, but we've become a community hub and certainly are encouraging that. We now host chamber meetings, and weekly coffee clubs and book clubs.” “Our goal is to really be a focal point in the community down there, offering some music and live events, especially over the summer,” Nigro added. Loge Wolf Creek features updated guest rooms; common indoor, outdoor and event space; and the full-service Café 430. Out- door upgrades to the property include a cedar hot tub, a barrel sauna, and an expansive patio with fire pits and yard games. The property now includes eight rec- reational vehicle pads with four hookups, as well as four charging stations for electric vehicles. Loge Wolf Creek also features a stocked gear room for guests who are traveling without gear or want to try something new. “South Fork isn’t a household name, but that’s the point; it offers some of the best outdoor activities in our state, whether fishing, skiing, moto, snowmobil- ing, hiking, rock climbing, biking or just relaxing, but without the crowds,” said Nigro. Developed by Concentric Co., Loge Wolf Creek was designed by architect Ireland Dean Designs. Reliant Construction served as the general contractor, and Gagliano Engineering pro- vided engineering services. Har- monic Media made the signage and produced some of the art in the common spaces. Loge Wolf Creek is part of the Loge Camps network, with LOGE standing for “Live Out- side, Go Explore.” The outdoor hospitality brand is focused on the outdoor lodging space. Loge Wolf Creek is the seventh location to open, with another 12 set to open this year. s Loge Wolf Creek opens after renovations and rebranding by Avalon Jacka LOVELAND – A national homebuilder has purchased 27.5 acres in Centerra’s Kinston master planned community for $11.82 million. Lennar Colo LLC purchased 113 lots in a direct deal with Timberlark LLC, an entity affili- ated with McWhinney. The lots are located southeast of Center- ra Parkway and Elk River Drive. Lennar is planning to build its Pioneer Collection of single- family detached homes, with the ability to provide extended three-car garage options, a rep- resentative from McWhinney said. Once completed, the Kin- ston master planned commu- nity will total 625 acres with a wide range of housing options, including single-family, duplex- style and build-to-rent paired homes, according to previous reporting. Additional develop- ers for the community include Dream Finders Homes, Rich- mond American Homes, Bridgewater Homes, David Weekley Homes, AHV Com- munities and McWhinney. Other news n FRANKTOWN – A 56.88- acre land parcel in Douglas County has sold for $1 million. Karen E. Kostroski sold the parcel at 11224 E. Colora- do Highway 86 in May to an undisclosed buyer. While the seller had used the property as a family farm, historically the property has had a landing strip and once had a railroad pass through it. Heath Honbarrier and Mitch Trevey of Trevey Commercial Real Estate represented the seller, and the buyer was rep- resented by Jena Vail of Berk- shire Hathaway HomeSer- vices Colorado Real Estate. The buyer had been looking for acreage near Franktown because it has a business in town and likes being part of the community, Vail said. The buyer plans to hold the land as a long-term investment, with near-term plans for the prop- erty including farming the land and potentially renting out the house on the property. Vail highlighted the “good poten- tial” of the area and noted that momentum is moving toward Franktown. n DENVER – A Boulder-based real estate developer purchased two adjacent land parcels near the National Western Complex for $1.2 million, or $76.77 per square foot. Tebo Prop- erties acquired the parcels, totaling 15,668 sf at 4060-4100 York St., from Terry L. Baker in May. John V. Propp of John Propp Com- mercial Group represented the seller, while the buyer self-rep- resented in the transaction. The land is located in a state of Colorado enterprise zone within minutes of downtown Denver. The buyer purchased the property as the final piece in a full-block assemblage. s Lennar buys 113 lots in Kinston master planned community Sonder leased 93 units at Skyline at Highlands, located at 2501 W. 26th Ave., to provide apartment-style hotel stays in the Lower Highland neighborhood. The renovations at Loge Wolf Creek were designed by architect Ireland Dean Designs and completed by general contractor Reliant Construction. John V. Propp The two adjacent land parcels, located at 4060-4100 York St., near the National Western Complex, sold for $1.2 million.