Shuttered Denver Hospital Trades for $60M
E5x Management Inc. purchased the former Intermountain Health Lutheran Hospital campus for $60 million with plans to develop a mixed-use project. Lutheran Hospital built a new $650 million facility at 12911 W. 40th Avenue in Wheat Ridge; the location at 8300 W. 38th Avenue is now vacant.
The Denver Business Journal reports E5x plans to develop around 1,200 to 1,500 residential units at the site, including single-family homes, townhomes, and apartments. The new zoning approved by the Wheat Ridge City Council allows for a balanced mix of land uses, including residential, institutional, civic, office, and retail.
The development plan also includes green space with trails and a pledge to preserve two existing buildings on the property, known as the Blue House and Chapel, which were anticipated to be used to house restaurants, event spaces, or other public spaces, such as a library.
Other News
Apartment Property in Downtown Wenatchee Changes Hands
Tamarack, a 23-unit apartment community at 211 N. Delaware Avenue in Wenatchee, Washington, has sold for $3.25 million. Kidder Mathews Vice President Max Frame of the Simon | Anderson Multifamily Team represented the seller, Dan Dahl. The 21,400-square-foot garden-style community is located steps from downtown Wenatchee and offers investors a value-add opportunity in a highly...
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Merchants Capital Secures $98M for VA Affordable Development
Leading financial services provider Merchants Capital announced $97.8 million in financing for the rehabilitation of Stuart Gardens, a 491-unit, two-phased affordable multifamily property in Newport News, Virginia. developed by Vitus Group. Merchants Capital secured $62.8 million in U.S. Department of Housing and Urban Development (HUD) 221(d)(4) permanent financing and $35 million in equity bridge loans...
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Colliers Brokers $18M Sale of 88-Unit Multifamily in Seattle’s Roosevelt Neighborhood
Colliers announced the $17.5 million sale of 6700 Roosevelt, an 88-unit multifamily community directly across from the Roosevelt light rail station in Seattle’s Roosevelt neighborhood. Coverse Capital Investments acquired the property from 6700 Roosevelt LLC. Sam Wayne, senior vice president, and associates Dylan Luxenberg and Reed Gustavsen of Colliers, represented the seller and procured the...
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Brokers
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Remax Real Estate Professionals
Re/Max Real Estate Professionals
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Jared Ennis
Central CA Commercial | California
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Rick Recckio
Recckio Real Estate & Development
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Eamonn McConnell
Avison Young - CA - ON - Greater Toronto
Lenders
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Essex Property Trust, Inc.
California
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Josh A
California
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Bob Tuteur
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Andrew Schildcrout