Colorado-Real-Estate-Journal_437197

INSIDE 12 6 FEATURED 16 CONTENTS JANUARY 1-14, 2025 Office 6 Industrial 10 Multifamily 12 Retail 16 Finance 22 Law & Accounting 26 CDE News 29 Who's News 30 10 Centerpoint I and II Tuff Shed acquires headquarters office buildings for $23 million 700K sf for $100M Brookfield Properties disposes of Central Park Logistics Center Affordable MF Hudson Valley buys 22-asset portfolio with 7 Colo. properties Greeley retail Portion of Elk Lakes Shopping Center trades hands for $15 million by Avalon Jacka LITTLETON – A 427-unit multifamily community southwest of the Interstate 25-E-470 interchange traded hands in December. BCM Atlantic Lone Tree LLC acquired Cortland Lone Tree, located at 10185 Park Meadows Drive, from Park Meadows CO Partners LLC for $138.25 million, or $323,770 per unit, or $318 per square foot, according to Douglas County public records. The buyer entity has an address associated with McDowell Housing Partners, based in Addison, Texas. The seller entity is affiliated with Cortland. Walker & Dunlop’s Dan Woodward, Matt Barnett, David Potarf and Jake Young brokered the sale on behalf of both parties. The team declined to comment on the transaction. The property has been rebranded as Altitude at Lone Tree, according to the prop- erty website. Built in 2005, the 435,402-sf community is 95.8% occupied. Altitude at Lone Tree includes a mix of one-, two- and three-bedroom units averaging 1,020 sf. Apart- ments include granite coun- tertops; energy-efficient, stain- less-steel appliances; under- mount sinks with gooseneck faucets; modern cabinetry with designer hardware and tile backsplashes; wood-style flooring; Nest thermostats; in-unit washer and dryer sets; walk-in closets; and ceil- ing fans in living rooms and bedrooms. Select units also include a sunroom, a loft with a spiral staircase, private pati- os or balconies, and built-in desks. The pet-friendly communi- ty features a resort-style pool and heated spa; a sundeck with poolside cabanas; a 24/7 fitness center; a spin/yoga studio; a newly renovated resident clubhouse with WiFi; an outdoor kitchen with gas grills; a brand-new coworking space; an outdoor lounge and fire pit. Garage parking, addi- tional storage and recycling are also available at the gated, limited-access community. The asset is positioned near Park Meadows Mall and numerous employment hubs in the Denver Tech Cen- ter, Meridian, Lone Tree and Centennial. Its adjacency to Interstate 25 and E-470 allows for convenient access to the greater Denver metro area, Castle Rock and Colorado Springs. s BCM Atlantic Lone Tree buys Cortland by Avalon Jacka COLORADO SPRINGS – A local health system announced plans for a major expansion at its hospital in the Briargate area. With the expansion, UCHealth will nearly dou- ble the footprint of Memo- rial Hospital North, located at 4050 Briargate Parkway. The hospital currently measures approximately 360,000 square feet. The expansion project includes nearly 330,000 sf of new construction at the hos- pital, with about 45% of the space slated to be built out for immediate use and the other 55% designated as shell space for future growth. The additional space will allow the hospital to continue to grow its cancer center, adding clinical trials and advanced treatments. “This expansion will enable us to expand our surgical spe- cialties – such as spine and orthopedic surgeries – and offer patients access to nation- ally recognized specialists throughout UCHealth,” said UCHealth President and CEO Elizabeth B. Concordia. “The hospital’s master plan ensures the community will have the best care, close to home, for years to come.” The $407 million project will encompass a new six-story inpatient tower, new oper- ating rooms, an expanded kitchen and dining space, a laboratory expansion, space for 12 additional emergency department exam rooms, future expansion of imaging services, a renovation of the main lobby to incorporate the new tower, expanded surface parking and a six-level park- ing structure. “Memorial Hospital North has been operating at or near UCHealth announces hospital expansion The 427-unit Cortland Lone Tree, located at 10185 Park Meadows Drive, was rebranded to Altitude at Lone Tree following its $138.25 million acquisition. Please see UCHealth, Page 17 UCHealth UCHealth’s recently announced expansion at Memorial Hospital North will add nearly 330,000 square feet at the hospital, which has experienced significant growth in the past five years.