A group of three investors, Two Arrows Group, Halo and OlivePoint Capitals, spent $50 million on three retail buildings and a 216-unit apartment complex.
The Denver Business Journal added that the sale of Parkside @ City Center included the three retail buildings at 14505, 14515 and 14535 E. Alameda Ave., totaling 24,985 square feet. It also included the Stella on the Park apartments at 14565 E. Alameda Ave., which offer studio—to three-bedroom units and more retail space, bringing the total at the property to around 36,000 square feet of retail.
The seller, Milender White Construction, developed and built the four-building community.
Jason Schmidt and Austin Snedden led JLL’s capital market investment sales and advisory team, while CBRE’s Shane Ozment, Terrance Hunt, Andy Hellman, Justin Hunt, Brad Schlafer, Chris Hart and Keegan Rowan were involved in the sale of the apartment building.
Constructed in 2021, the retail properties were 86% leased at the time of the transaction.
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