August 19, 2015
Plans for the project, known as Route 40, are in development and CIG expects to break ground in Summer 2017.
Denver, CO – August 19, 2015 – Consolidated Investment Group (CIG) recently purchased an existing 3-story building, known as Route 40, at Colfax and Downing in Denver that includes existing ground floor retail and 28 apartment units. In conjunction, CIG also acquired an adjacent .70 acre parcel of land, which they plan to develop into an exciting new mixed use project featuring retail, co-work office space and apartments.
The new development is expected to break ground in Summer of 2017 and will include the construction of a new, 8-story structure on the land parcel. Preliminary plans include ground floor retail, co-work office space and approximately 140 apartment units. Additionally, the new complex will feature common areas including a westerly facing courtyard, a roof top deck, fitness center, club room, and will be pet and bike friendly.
“We are excited to continue the revitalization of the Colfax corridor and expand our presence in the Capitol Hill neighborhood,” said Chris Winn, Asset Manager at CIG. “We envision an opportunity to introduce an exciting collaboration of spatial uses including retail, shared office and residential living.”
The addition of Route 40 to CIG’s portfolio adds to a growing number of real estate investments in the Denver area, most prominently, they are the owners of the Parkway Apartments (466 Units on Colfax and Speer Blvd) and the developers of the Eastpark 70 Industrial Park in Aurora. Overall, CIG’s real estate portfolio consists of investments in more than 20,000 multi-family apartment units and several million square feet of office buildings, industrial buildings and land holdings throughout the United States, Israel and Europe.
“Our team focuses on maximizing the value of our existing real estate portfolio while strategically acquiring new real estate assets in select high-growth markets like Denver, including Dallas, Houston, Austin and Phoenix.,” said Tim Bertoch, Vice President of Real Estate at CIG. “As a Denver-based investment group, we have been excited to see our local real estate market thriving over the past several years, allowing us to explore even more opportunities right here in our own backyard,” Tim added.
About Consolidated Investment Group
Consolidated Investment Group (CIG) is an entrepreneurial investment company that manages a diverse portfolio valued in excess of $2 billion. Since 2003, CIG has actively invested in private equity, capital markets, real estate, and philanthropy. The company’s mission is to preserve and grow its shareholders’ capital for current and future generations and to support their philanthropic endeavors. It accomplishes this through innovative processes and a results-oriented team. CIG is committed to an environment founded on high ethical standards that puts its people first, fosters collaboration, and inspires dedication. CIG invests domestically and internationally through operating partners, direct investment, and opportunistic funds. Learn more about CIG.