ARA Newmark brokers complete sale of Denver properties

Five properties with 429,940 rentable square feet

ARA, a Newmark Company (ARA Newmark), has announced the $69.5 million sale of the Cherry Creek Value-Add Portfolio, which consists of five Denver properties totaling 537 units and 429,940 rentable square feet: Four Mile Flats, Park Point, Vantage Point, Infinity Flats and The Birch.

ARA Newmark’s Executive Managing Directors Terrance Hunt, Shane Ozment and Justin Hunt, and Director Andy Hellman served as exclusive advisors to the seller, Blueline Properties (Blueline), in the transaction. Blueline is a private real estate group headed by Morgan Reynolds and Steve Daniel, who assembled the portfolio over the previous five-year period.

“Reynolds and Daniel were pioneers in this area and helped begin the renaissance that the neighborhood is currently seeing,” Hunt said. "Blueline is very knowledgeable about the Colorado market and is a hands-on operator, which has served them well over the years as this location has evolved into what it is today.”

All five of the properties are optimally located within a block of each other and five miles south of downtown Denver, just minutes from the existing Colorado Boulevard and I-25 Light Rail Station, the premier Cherry Creek mixed-use district and the $175 million Glendale 180 redevelopment. Glendale 180 will feature 303,225 square feet of high-end retail, dining and entertainment and is scheduled for completion in 2017.

Built between 1964 and 1975, Park Point, Vantage Point and The Birch have seen few upgrades. The buyer, Arel Capital, intends to add value by fully renovating all of them. Arel Capital is a New York-based investment firm that focuses on value-add multihousing opportunities. Arel’s first Denver purchase was an 81-unit, three-property portfolio, which was also sold to them by ARA Newmark in early 2015.

About ARA, A Newmark Company
ARA, A Newmark Company is the largest full-service investment advisory firm in the nation that focuses exclusively on the brokerage, financing and capital sourcing of multihousing properties including conventional, affordable, distressed assets, notes sales, seniors, student & manufactured housing and multihousing land. ARA, A Newmark Company comprises the country’s top investment professionals who leverage a unique and fully integrated cooperative business platform of shared information, relationships and technology driven solutions. For detailed information on ARA, A Newmark Company’s extensive multihousing investment services, visit

About Newmark Grubb Knight Frank
Newmark Grubb Knight Frank is one of the world's leading commercial real estate advisory firms. Together with London-based partner Knight Frank and independently-owned offices, NGKF's 12,800 professionals operate from more than 370 offices in established and emerging property markets on six continents. For further information, visit

NGKF is a part of BGC Partners, Inc., a leading global brokerage company servicing the financial and real estate markets. BGC's common stock trades on the NASDAQ Global Select Market under the ticker symbol (NASDAQ: BGCP). BGC also has an outstanding bond issuance of Senior Notes due June 15, 2042, which trade on the New York Stock Exchange under the symbol (NYSE: BGCA). BGC Partners is led by Chairman and Chief Executive Officer Howard W. Lutnick. For more information, please visit

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