Northstar Commercial Partners assists Denver Christian Schools in acquiring future 270,000 SF campus in Lakewood, Colorado
Northstar seeks to assist other schools in property options.
DENVER, Jan. 14, 2014 /PRNewswire/ -- Brian Watson, the Founder and President of Colorado-based Northstar Commercial Partners, today announced the acquisition by Denver Christian Schools of a 270,000 square-foot building on a 20.7-acre property in Lakewood that will be their future campus for pre-K through 12th grade.
By August 2014, the three existing Denver Christian Schools campuses will be vacated, with all operations merging into one campus located at 3898 S. Teller Street in Lakewood, CO. Northstar helped Denver Christian Schools (DCS) identify the property and assisted them in the full process to secure this opportunity, including the $7.6 million purchase which took place on December 30, 2013.
The property, including a former office building and training center, was acquired at less than 38% of its appraised value, underscoring the value that Northstar helped to deliver to DCS. Northstar seeks to assist other schools in Colorado in promoting school-choice options and helping fund new charter school locations.
"We were honored and humbled to help Denver Christian Schools in securing this phenomenal property at such a great discounted value," said Watson. "I have three children who have each attended Denver Christian Schools. It's a blessing to be part of the process to help DCS select and purchase their new facility in order to establish their next 100 years of successful and influential education for thousands of future students and their parents."
Denver Christian Schools, formed in 1916, partners with families and more than 140 community churches to educate the whole child – heart, hands and mind. Its future plans at the new Lakewood campus include best-in-class technology and facilities that allow teachers to prepare students academically, for college and for life.
"Northstar Commercial Partners and Brian Watson have provided us with outstanding services, both in the acquisition of the Teller Street property and with the disposition of our current sites," said Ray Boersema, CEO of Denver Christian Schools. "Our teaching and learning presence at the new location will provide us with an outstanding ability to offer Preschool through 12th grade education that is distinctive and exemplary in the Front Range region. Denver Christian Schools is honored to have Northstar Commercial Partners as an advocate and a real estate partner in establishing our future."
DCS, with more than 600 students currently, is hosting a series of forums to discuss its new home in the Academy Park area of Jefferson County. See more at www.denver-christian.org, including an aerial view of the property and photos of the building and landscape.
"We are proud to welcome the Denver Christian Schools to Lakewood," said Mayor Bob Murphy. "The schools are committed to providing students with quality education as well as life preparation. The campus and its people will become a wonderful community asset."
Established in the 1970s, Academy Park continues to evolve as one of Lakewood's major employment centers. The efforts of Northstar and DCS will allow this key real estate asset, with a long Lakewood history, to bring new activity to the area. The addition of DCS also adds to the growing list of exemplary education institutions that are investing in Lakewood, including Colorado Christian University, Red Rocks Community College, Rocky Mountain College of Art + Design and Colorado Academy.
Northstar also represents Denver Christian Schools in the sale of their existing three school campuses comprising more than 180,000 SF in Denver and Highlands Ranch. These properties offer other schools the rare opportunity to acquire move-in ready schools, or provide redevelopment opportunities for multi/single-family residential, senior care or office uses. The locations are at 2135 S. Pearl Street and 4200 E. Warren Avenue, both in Denver; and 1733 E. Dad Clark Drive in Highlands Ranch.
Northstar, founded by Watson in 2000, specializes in acquiring vacant commercial real estate assets throughout the United States, and turning those assets into productive work environments to create jobs and opportunity in their communities. The firm has been very active in purchasing and repositioning assets in this economic environment. For more information regarding Northstar Commercial Partners, or to submit a property for consideration, please visit www.northstarcp.com.
SOURCE Northstar Commercial Partners
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