Colorado-Real-Estate-Journal_496496

INSIDE 12 6 FEATURED CONTENTS DECEMBER 3-16, 2025 Office 6 Industrial 8 Multifamily 12 Retail 18 Finance 26 Law & Accounting 30 CDE News 32 Who's News 48 10 Cherry Creek North The Broe Group starts second phase of Clayton Street redevelopment Leasing assignment Brennan selects Stream Realty to lease Picadilly Crossing Luxury apartments Greystar announces 309-unit community in the Golden Triangle 18 Airport travel center Aaravya, Denver International Airport break ground on Elevate by Avalon Jacka METRO COLORADO SPRINGS – An Indiana-based multifamily developer is bringing two new multifamily communities to the Colorado Springs market. Thompson Thrift announced it will develop Venture on Venetucci, a 336-unit commu- nity at 4446 Venetucci Blvd. in Colorado Springs. The compa- ny also began construction on The Maverick, a 300-unit com- munity at 1300 Higby Road in Monument. Both commu- nities will welcome their first residents in first-quarter 2027, with Venture at Venetucci expected to open in March and The Maverick anticipated to debut in February. “Colorado Springs contin- ues to stand out as one of the nation’s fastest-growing economies, supported by bil- lions in new investment and thousands of new jobs,” said Thompson Thrift Residential Managing Partner Josh Pur- vis. “Our newest commu- nity (Venture on Venetucci) reflects that same momen- tum, bringing Thompson Thrift’s signature blend of quality, luxury and lifestyle to a market that values excep- tional living experiences.” Situated on 16.5 acres, the 428,759-square-foot Venture on Venetucci will include a mix of one-, two- and three- bedroom units averaging 1,000 square feet. Each apart- ment will include quartz countertops, stainless-steel appliances, glass-top ranges, tile backsplashes, walk-in closets, walk-in showers, a full-size washer and dryer, and more. Select units have patios, balconies or private yards. Community amenities will include a 24-hour fitness cen- ter, heated swimming pool, community grilling areas, a pickleball court, billiards, Thompson Thrift plans 2 new communities by Avalon Jacka DENVER – A Florida-based real estate fund acquired a best-in-class 249-unit multi- family community from the project’s developer, marking the first time the property has sold since completion. Seminole Real Estate Fund purchased Raleigh at Sloan’s Lake, located at 1650 N. Raleigh St., from Hines for $125.6 million, or $507.68 per square foot, or $504,418 per unit, in November. The price per unit set a record for a mul- tifamily community in Denver this year. “The sale of Raleigh at Sloan’s Lake reflects the strength and appeal of Den- ver’s multifamily market,” said Hines Senior Managing Director Chris Crawford. “Its exceptional lakefront location and top-tier design have driv- en strong resident demand and enabled it to outperform competitors, underscoring the depth of appetite for thought- fully executed projects in this market.” CBRE’s Terrance Hunt, Shane Ozment, Chris Hart and Brad Schlafer facilitated the transaction on behalf of the seller. The transaction was the second recent deal the team has completed in the area. “In urban Denver, asset qual- ity and microlocations have become crucial as peak supply in the first quarter continues to be absorbed,” Hunt said. “The Raleigh at Sloan’s Lake has maintained both strong occu- pancy and rent growth over the past year. Hines delivered a high-quality asset that has outperformed the market, and the buyer recognized the opportunity to acquire a property that has been stress- tested, demonstrating it will have long-term viability and outsized growth as the market recovers in the next year.” Tour volume during the marketing process was “high- er than usual” with about 30 tours, and the CBRE team received a number of offers that ultimately led to several potential buyers competing, Hunt said. “A lot of people want to be buying and are looking right now,” Hunt said. There was a loan assump- tion available in the transac- tion. However, due to its long- term hold strategy, the buyer opted to recast the loan now for 10 years with a favorable rate rather than take the exist- Raleigh at Sloan’s Lake sells for $126 million Please see Venetucci, Page 23 Please see Raleigh, Page 23 Located at 4446 Venetucci Blvd., Venture on Venetucci is one of two new multifamily communities Thompson Thrift will bring to the Colorado Springs market in first-quarter 2027.. F4D Studio The sale of Raleigh at Sloan’s Lake set a record price per unit for a multifamily community in Denver this year, selling for $504,418 per unit.