Colorado-Real-Estate-Journal_453183

Page 16 - April 2-15, 2025 www.crej.com Senior Housing by Avalon Jacka WINDSOR – A Chicago-based private equity real estate invest- ment firm acquired a 120-unit active adult community north of the Water Valley master-planned development. TCC Windsor Titleholder LLC purchased 55 Resort at Water Valley, located at 500 Apex Drive, from 55 Resort Apart- ments at Water Valley LLC for $31.88 million in March, accord- ing to SKLD Information Ser- vices. The seller’s address is associated with Florida-based 55 Resort Management Corp. The buyer – an affiliate of Green Courte Partners LLC and its Green Courte Real Estate Part- ners VI LLC investment fund – has rebranded the property to Eagle’s Peak at Water Valley. “This community was a key target for us due to its prime location within the high-growth corridor between Denver and Fort Collins,” said Matt Pyzyk, GCP managing director. “Its extensive amenities and inte- gration into the Water Valley master-planned community provide an exceptional lifestyle environment for active adults 55 and older. We remain committed to acquiring similar communi- ties as we grow our active adult portfolio.” GCP plans to make several capital improvements to the property throughout the hold period. “Having known the GCP leadership team since the com- munity was developed in 2019, we are pleased to finalize this transaction with them,” said Brad Florin, 55 Resort Manage- ment Corp. founder and CEO. “They moved swiftly, met our timeline and ensured a seamless process.” The community offers one- and two-bedroom apartments with all-inclusive pricing. Unit amenities include spacious bedrooms, full-size stainless steel appliances, full-size wash- ers and dryers, walk-in closets, quartz countertops, private bal- conies and electric fireplaces. Community amenities include a resort-style heated pool and spa, a state-of-the-art fitness cen- ter with instructor-led classes, a game room with poker tables, a private movie theater, a library and lounges, an on-site pub, landscaped walking trails and outdoor seating, a community demonstration kitchen, con- cierge services, an on-site dog park, and a business center with WiFi and a printer. The acquisition marks GCP’s entrance to the Colorado mar- ket and expands GCP’s national senior housing portfolio to 21 communities in 13 states with approximately 3,300 units. The portfolio is managed by GCP’s wholly owned operating plat- form True Connection Com- munities. GCP is committed to acquiring similar communities across the country as it grows its active adult portfolio, GCP spokesperson Robert Dekker said. GCP has active investments in active adult and independent senior living facilities, land-lease communities, industrial outdoor storage, and near-airport park- ing. The firm’s goal is to invest in high-quality real estate assets that will generate attractive risk- adjusted returns over a long- term holding period. s Green Courte Partners purchases 55 Resort at Water Valley 480-volt power; and a combined 322 parking spaces. Building B is expected to be delivered in first-quarter 2026, with delivery for Building A anticipated in the following quarter. Falcon Commerce Center is situated between the adjacent UPS and Budweiser distribution facilities. Positioned off the West Baptist Road exit off Interstate 25, one exit north of the U.S. Air Force Academy, the property offers a scenic location, highway visibility, and connectivity to the Colorado Springs and Den- ver metro areas. The Colorado Springs Airport is a 35-minute drive from the property, and Denver International Airport is less than an hour away. Recent infrastructure improve- ments in the area include True- North Commons, a 36-acre mixed-use development featur- ing the 375-room Hotel Polaris, 100,000 sf of build-to-suit office space and the Air Force Acad- emy Visitor Center. The property is also about half a mile from the New Santa Fe trailhead. The sur- rounding area is primed for new industrial development between the Denver Tech Center and downtown Colorado Springs. The population is 56,158 within 5 miles and 428,805 within 15 miles, according to a leasing bro- chure. JLL’s Carmon Hicks and NAI Highland Commercial’s Randy Churchill Dowis will handle leasing at Falcon Commerce Center. “Falcon Commerce Center is intentionally designed to fill a need in northwest Colorado Springs,” Hicks said. “As ten- ants in the market identify the optimum footprint for their operations, VanTrust is deliver- ing a state-of-the-art product at the ideal size range for current demand. Additionally, with low vacancy in this trade area, Falcon Commerce Center will be pro- viding businesses an outstand- ing opportunity in the midst of a well-located submarket.” Kansas City, Missouri-based VanTrust is a full-service real estate development company offering acquisition, disposition, development, and corporate services. Product types include office, industrial, multifam- ily, science and technology, and mixed-use. The company’s port- folio features a regional focus with national reach, with prop- erties in Missouri, Kansas, Iowa, Oklahoma, Ohio, Indiana, Ken- tucky, Georgia, South Carolina, Florida, Texas, New Mexico, Ari- zona, Nevada, and Utah, accord- ing to its website. Headquartered in Kansas City with a Chicago office, CP Real Estate Capital is a privately held real estate investment firm focused on opportunistic deals across all sectors of commercial and residential asset classes. Its portfolio is primarily based in the Midwest, extending to Colorado, with Sunbelt states included in its investment strat- egy moving forward, its website said. Its existing Colorado prop- erties include the 1,400-acre For- est Lakes mixed-use develop- ment in Colorado Springs and a 92,000-sf single-tenant industrial building in Denver. s VanTrust Continued from Page 1 Independence Townhomes rep- resent the first step in bringing this vision to life,” said Graham Frank, developer and managing member of The Finale Devel- opment Partnership. “Together with our partners, Finale has been thoughtfully designed to deliver turnkey luxury living while establishing meaningful experiences for future genera- tions.” Independence Townhomes are located downtown, across from the BreckConnect Gondola, pro- viding the fastest in-town access to the mountain. The town- homes range from 2,400 to 3,500 square feet and include two-car garages. Reservations are live, and residences are expected to begin going under contract later this spring. Pricing for Indepen- dence Townhomes ranges from $3.9 million to more than $6 mil- lion. Independence Townhomes owners will receive two lifetime Epic Ski Passes, along with the option to purchase ownership at the Grand Colorado on Peak 8, providing access to the slopes and exclusive amenities, includ- ing a private slopeside ski/ snowboard locker, a full-service day spa, private movie theaters, ice-skating rinks, multiple din- ing venues, and a fitness center with cold plunge, steam room, sauna and indoor/outdoor aquatics. Positioned at the gateway of Peaks 7 and 8 and Main Street, Independence Townhomes offers a ski-in/ski-out lifestyle with the convenience of a central location in town. The Finale master-planned development will also include Imperial Hotel & Private Resi- dences, the final slopeside hotel to be built at the base of Peak 8; Imperial Chalets & Villas, an offering of mountainside resi- dences, chalets and villas pro- viding whole ownership oppor- tunities, with homes ranging from two to five bedrooms; and Victory Ridge Slopeside Home- sites, providing an opportunity to own land directly adjacent to Breckenridge Ski Resort. The development provides a last- of-its-kind opportunity for pro- spective buyers to own newly constructed homes downtown and on the mountain. Master developer Finale Development Partners is led by Graham Frank and Mike Dudick. Additional develop- ment partners for Finale include Breckenridge Grand Vaca- tions, DTJ Design, Styleworks, Norris Design, IMI Worldwide Properties and MSI Destina- tion Resorts & Properties. s Finale Continued from Page 14 LLC in the sale of a multifamily portfolio located in the Fargo, North Dakota-Moorhead, Min- nesota, metro area. The cities are adjacent but separated by the states’ border along the Red River. An affiliate of Christian- son Cos. acquired the portfolio. The exact sales price was undisclosed, but a statement from Cushman & Wakefield said the total purchase price ranked as the highest-valued multifami- ly sale in North Dakota’s history. The sales price is also among the highest-ever valued for any commercial real estate property sold in the state. The portfolio includes 601 recently developed single-family build-to-rent homes with a mix of three-, four- and five-bedroom homes averaging 7 years old. The portfolio features “strong historical occupancy and excel- lent lease trajectory,” according to the Cushman & Wakefield statement. “The build-to-rent asset class is a favorable investment class for the multifamily sector,” Phelan said. “Demand for BTR assets in the Midwest and Mountain West regions and beyond remains strong, both from the investor standpoint and the renter pool. Build-to-rent properties provide an attractive and flexible option for renters seeking the feel of a home but may not yet be com- mitted or able to afford purchas- ing a home.” FargoisthelargestcityinNorth Dakota and is the state’s eco- nomic engine. The metro area is projected to see substantial eco- nomic and population growth over the next few decades. The portfolio units are close to major employers in the area, including North Dakota State University and Sanford Health. s Fargo Continued from Page 15