Broe Real Estate Group Adds Multi-Family Expertise to Guide Multi-Market Growth

Broe Real Estate Group Adds Multi-Family Expertise to Guide Multi-Market Growth

Aug. 4, 2022

DENVER – August 4, 2022 –

Broe Real Estate Group (BREG), the multi-billion-dollar, Denver-based real estate developer, has named Ben Kendall Senior Vice President for Multi-Family Development. In his new role, Kendall will lead expansion of BREG’s multi-family projects that stretch from Colorado to Georgia and California.

BREG, developer of the award-winning $500M Country Club Towers II & III community, has three active Colorado multi-family development projects in the pipeline, in addition to its planned multi-market expansion. BREG’s new multi-family development initiative complements a robust portfolio of active industrial projects.

“Nationwide, demand for high-quality, multi-family developments continues at record levels and the category is a key component of our continued growth strategy,” said BREG CEO Douglas Wells. “Ben is a highly accomplished development director that brings the ideal skill set to lead BREG’s multi-family portfolio expansion.”

Kendall joins BREG following six years at Holland Partner Group where his responsibilities included site identification and acquisition, due diligence, development, marketing, and leasing. With extensive multi-family experience derived from developing thousands of multi-family units, Kendall’s industry expertise and market knowledge will guide BREG’s multi-market growth strategy.

“I’m excited to grow BREG’s well-earned reputation within the multi-family industry,” said Kendall. “Each new project will reflect BREG’s signature approach to multi-family development: high quality, high service developments that create a true sense of community. I look forward to working with Doug and the Broe team to expand this approach into new markets.”

About Broe Real Estate Group

Broe Real Estate Group, an affiliate of The Broe Group, acquires, develops and manages commercial real estate assets. Affiliated companies own and manage office and industrial properties, medical office buildings and multi-family communities across the country, including premier assets in many of the most desirable markets. The Broe Group has a 50-year history of value-add real estate investing in Colorado and across the United States. We improve value though the implementation of focused business plans that increase cash flow and create stable income streams. For more information, visit broerealestate.com.

 

About The Broe Group

Founded in 1972, The Broe Group is a private, multi-billion-dollar investment group with diversified holdings in real estate, rail, infrastructure, energy, agriculture, water, healthcare and technology throughout 37 North American states and provinces. Its deep operational knowledge derived from owning and operating multi-billion-dollar businesses and the global economic insights gleaned from serving its vast Fortune 500 clientele are strategic differentiators. The Broe Group’s entrepreneurial focus enables it to find true value wherever it resides. For more information, visit broe.com.    

The Broe Group Announces Groundbreaking of Phased $150 Million Cherry Creek North Development

The Broe Group Announces Groundbreaking of Phased $150 Million Cherry Creek North Development

200 Clayton Headlines Initial Phase of Transformational Clayton Street Project

June 2, 2021

DENVER, June 2, 2021 /PRNewswire/ — Broe Real Estate Group (BREG) announces the planned groundbreaking of 200 Clayton, Cherry Creek’s newest Class A commercial office space development. The eight story, 76,000 sq. ft. mixed use project in the heart of Cherry Creek North is scheduled for an August 2021 groundbreaking. 200 Clayton marks the first phase of its expansive Clayton Street redevelopment.

“200 Clayton is a high-quality, generational asset designed to meet high market demand for contemporary class A office space in Cherry Creek North,” said BREG CEO Doug Wells. “Cherry Creek North is an iconic location that combines an idyllic mix of work and leisure amenities and 200 Clayton will stand brightly at its center.”

Designed by The Beck Group, 200 Clayton features premier retail space and institutional quality commercial offices. GH Phipps has been named general contractor, with Denver CBRE’s Blake Holcomb and Brian Hutt leading the leasing effort to current and new market entrants.

OmniTRAX, The Broe Group’s transportation affiliate, will anchor the project and occupy the 2nd and 3rd floors of 200 Clayton. Active negotiations with unaffiliated prospective tenants are now underway for the remaining institutional quality office space on floors four through eight.

“200 Clayton offers a world class space and location that are ideal for OmniTRAX’s continued rail growth,” said OmniTRAX CEO Dean Piacente. “This move secures our long-term headquarters while maintaining our proud heritage as a Colorado company.”

About Broe Real Estate Group

Broe Real Estate Group, an affiliate of The Broe Group, acquires, develops and manages commercial real estate assets. Affiliated companies own and manage office and industrial properties, medical office buildings and multi-family communities across the country, including premier assets in many of the most desirable markets. The Broe Group has a 40-year history of value-add real estate investing in Northern Colorado and across the United States. We improve value though the implementation of focused business plans that increase cash flow and create stable income streams. Additional information is available at broerealestate.com.

About The Broe Group

Founded in 1972, The Broe Group is a private, multi-billion-dollar investment group with diversified holdings in real estate, rail, infrastructure, energy, agriculture, water, healthcare and technology throughout 37 North American states and provinces. Its deep operational knowledge derived from owning and operating multi-billion-dollar businesses and the global economic insights gleaned from serving its vast Fortune 500 clientele are strategic differentiators. The Broe Group’s entrepreneurial focus enables it to find true value wherever it resides. For more information, visit broe.com.

SOURCE Broe Real Estate Group.

Broe Real Estate Group Announces National Industrial Team Assignments to Serve Surging Market Demand

Broe Real Estate Group Announces National Industrial Team Assignments to Serve Surging Market Demand

New nationwide industrial model fueled by seismic changes in consumer consumption habits

Sep. 24, 2020

DENVER – September 23, 2020 – Broe Real Estate Group (“BREG”) named Sean Fitzsimmons as Senior Vice President for the East Region of its expanded industrial development group and elevated Dean Brown to Senior Vice President for the West Region. BREG’s expanded industrial development model corresponds with an unprecedented increase in demand for industrial space in the United States, driven by double digit ecommerce sales growth and the rising need to house expanded domestic supply chains. With one billion square feet of increased industrial market demand projected by 2025, industrial real estate demand is at an all-time high.

BREG’s Industrial Development business leverages the combined industry expertise of BREG and its affiliate railroad operating company OmniTRAX. BREG is a fully integrated, multi-billion dollar real estate investment management platform with extensive acquisition, development and property management capabilities derived from four decades of projects in the office, multifamily, retail, industrial, and land development sectors across the United States. OmniTRAX is a billion-dollar transportation company with operations that span North America. BREG and OmniTRAX are affiliates of The Broe Group. Founded in 1972, The Broe Group and its affiliates form a privately-owned, multi-billion-dollar value investment group with diversified holdings in 37 North American states and provinces concentrated in four key sectors: real estate, rail, energy and health tech.

BREG’s expanded national industrial development team, headed by Executive Vice President Reagan Shanley, is the nation’s leading full-service industrial real estate and railroad service provider with the ability to offer end-to-end transportation logistics solutions.

“The increased demand for industrial logistics facilities is driven by population and consumption growth, increased ecommerce sales, inventory buildup and re-shoring. Companies are seeking more efficient logistics facilities that provide operational advantages and cost savings,” noted Shanley. “With decades of in-house real estate, rail and logistics expertise, Broe Real Estate and OmniTRAX are uniquely positioned to deliver industrial logistics solutions for our customers throughout the US.”

Fitzsimmons, brings more than two decades of industrial development and brokerage experience with successful big box projects throughout the top east coast industrial markets, including prior developments in Savannah. In his new role, Fitzsimmons will be located in Savannah and Atlanta, and will lead the East Region including the Savannah Gateway Industrial Hub, a 2,600 master planned industrial park. This development features dual rail service from CSX and Norfolk Southern, as well proximity to the Port of Savannah, which continues its streak as the fastest-growing port in the United States. Savannah Gateway will complete its first building at 998,440 SF and welcome its first tenant, A&R Logistics, this fall.

Brown, who joined BREG in 2018 as the Vice President of Industrial, assumes expanded responsibilities for the industrial team’s West Region. With 22 years of experience in the west coast industrial market, Brown brings deep market knowledge and relationships to BREG. Brown is based in Denver and leads the West Region- including Great Western Industrial Park a 3,000 acre dual rail served Industrial, retail/commercial and residential development located in Windsor, Colo.

BREG’s expanded operations support growing demand and its expanded Northeast, Midwest and Southeast assets and rail served industrial parks spanning from Colorado to Texas and Georgia. The national industrial model enables BREG to further scale its successful private development and public private partnerships.

About Broe Real Estate Group

Broe Real Estate Group acquires, develops and manages commercial real estate assets. Affiliated companies own and manage office and industrial properties, medical office buildings and multi-family communities across the country, including premier assets in many of the most desirable markets. The Broe Group has a 40-year history of value-add real estate investing in Northern Colorado and across the United States. We improve value though the implementation of focused business plans that increase cash flow and create stable income streams. Additional information is available at broerealestate.com.

Broe Real Estate Signs Colorado Eye Consultants to Anchor New MOB Concept

Broe Real Estate Signs Colorado Eye Consultants to Anchor New MOB Concept

Aug. 16, 2018

DENVER – August 12, 2020 – Broe Real Estate Group (BREG) has signed eye care industry leader Colorado Eye Consultants, formerly known as Corneal Consultants of Colorado, to anchor its new medical building located on 4.66 acres at 1501 W. Mineral Ave., Littleton, CO.

BREG acquired the property in October 2019 and is actively converting the traditional office building into a Class A medical facility. Colorado Eye Consultants’ long-term commitment secures most of the first floor—approximately 34% of the 39,728 SF property.

“Given Southwest Denver’s consistent growth and the corresponding need for medical services in the region, we sought a trusted medical provider to anchor this newly imagined medical concept,” said BREG COO Peter Albro. “Colorado Eye Consultants is a renowned comprehensive multispecialty eye care practice with a deep and successful track record of unsurpassed patient outcomes. We view them as an ideal foundational partner for this project.”

After decades of trusted eye care service to the Rocky Mountain region, Colorado Eye Consultants is looking forward to their future move.

“We are fortunate to have an outstanding group of physicians who are supported by an amazing staff in our practice. Providing high quality eye care for our patients is our top priority. Our new Mineral Avenue location provides a unique opportunity to align our leading-edge technology and focus on personalized patient care in a fully redesigned space that can conveniently and efficiently serve the region,” said Colorado Eye Consultants’ partner Karen Repine, MD.

Extensive renovations are underway to fully convert the property into a medical office building concept with surgical center capability. Tenant recruitment continues for a complementary base of medical providers to serve the region’s growing demand for excellent medical care.

About Broe Real Estate Group

Broe Real Estate Group acquires, develops and manages commercial real estate assets. Affiliated companies own and manage office and industrial properties, medical office buildings and multi-family communities across the country, including premier assets in many of the most desirable markets. The Broe Group has a 40-year history of value-add real estate investing in Northern Colorado and across the United States. We improve value though the implementation of focused business plans that increase cash flow and create stable income streams. Additional information is available at broerealestate.com.

Broe Real Estate Group Launches $250M Strategic Investments Program

Broe Real Estate Group Launches $250M Strategic Investments Program

Jun. 18, 2020

DENVER – June 17, 2020 – Broe Real Estate Group (BREG), an affiliate of The Broe Group, announces the launch of its $250M BREG Strategic Investments Program to create expedited capital solutions for liquidity strained commercial real estate properties and ventures that are experiencing distress from COVID-19 related market disruptions.

Broe Real Estate Group’s Strategic Investments Program provides vital rescue capital solutions to stabilize properties and partnerships that find themselves experiencing liquidity issues. BREG’s decades of experience with complex transactions enables the consideration of complicated distressed projects that find themselves locked out of traditional capital markets. Among the property types under consideration are existing or under construction industrial, office, medical office, multi-family, hospitality, and retail properties. The program will target opportunities with individual asset transaction sizes ranging in size from $20M to $100M with a minimum equity requirement of $10M. Larger portfolio transactions will also be considered. The initial phase of the program will have a Western United States geographical focus while prioritizing high quality markets, assets, and partners.

Based in Colorado, BREG is a well-capitalized, fully integrated private real estate investment management business with a 40-year track record of successfully investing over $2.8B of capital across the United States. BREG has a history of direct asset ownership as well as structured institutional and private capital partnerships. In addition to its extensive capital resources, BREG also brings deep operating experience, capital markets expertise and an extensive network of relationships.

BREG’s affiliation with The Broe Group, a diversified investment management company with a multi-billion asset portfolio under management in 41 states, is a resource multiplier providing valuable economic insights and relationships. As all-cash buyers, BREG’s ability to close quickly allows the consideration of immediate action for projects in need of capital.

About Broe Real Estate Group

Broe Real Estate Group acquires, develops and manages commercial real estate assets. Affiliated companies own and manage office and industrial properties, medical office buildings and multi-family communities across the country, including premier assets in many of the most desirable markets. The Broe Group has a 40-year history of value-add real estate investing in Northern Colorado and across the United States. We improve value though the implementation of focused business plans that increase cash flow and create stable income streams. Additional information is available at broerealestate.com.

Broe Real Estate Names Peter Albro New Chief Operating Officer

Broe Real Estate Names Peter Albro New Chief Operating Officer

Nov. 6, 2019

DENVER – November 4, 2019 –Broe Real Estate Group (BREG), a private real estate investment firm and affiliate of The Broe Group, headquartered in Denver, CO, has named Peter Albro chief operating officer. The former BREG senior vice president of real estate has been tapped to assume senior leadership responsibilities.

“Pete is a talented real estate professional who has played a significant role in our recent successes,” said BREG CEO Doug Wells. “As we chart the course for continued growth, I look forward to the creativity and passion that Pete brings to his new senior leadership position.”

Albro, 39, joined BREG in 2016 and has been a major contributor to BREG’s North American investment program, involved with fifteen highly successful multi-market projects that span office, retail and medical office products and total more than 1.7M square feet.

“I am excited to contribute directly to the continued growth of the BREG platform in my new role,” said Albro. “We have a fast-paced organization with unique access to information and ideas through our affiliate companies within The Broe Group. I see great opportunity on the horizon for BREG and its stakeholders.”

In his new role, Albro will be responsible for portfolio and asset management, strategy and research and leasing activity. He assumes his expanded responsibilities effective immediately.

About Broe Real Estate Group

Broe Real Estate Group acquires, develops and manages commercial real estate assets. Affiliated companies own and manage office and industrial properties, medical office buildings and multi-family communities across the country, including premier assets in many of the most desirable markets. The Broe Group has a 40-year history of value-add real estate investing in Northern Colorado and across the United States. We improve value though the implementation of focused business plans that increase cash flow and create stable income streams. Additional information is available at broerealestate.com.

Broe Real Estate Group Adds South Metro Site to Growing MOB Portfolio

Broe Real Estate Group Adds South Metro Site to Growing MOB Portfolio

Major Capital infusion will reposition asset into medical space that addresses underserved market need

Oct. 16, 2019

DENVER – October 14, 2019 – Broe Real Estate Group (BREG), a private real estate investment firm and affiliate of The Broe Group, headquartered in Denver, CO, confirmed the acquisition of a 41,030 square foot office building located on 4.66 acres at 1501 W. Mineral, Littleton, Colo.

Constructed in 1999, the two-story multi-specialty building located in Douglas County is the ideal candidate for conversion, given its highly visible location and proximity within the sub-market. BREG will undertake significant capital investments to convert the previously zoned office building into a medical office facility equipped to serve the area’s growing need for medical services. Douglas County’s 19.4% growth since 2010 has outpaced all metro Denver area counties, creating increased consumer medical need.

“The Mineral acquisition offers the opportunity to repurpose a high quality asset into an institutional quality medical space that addresses the area’s continuing need for non-hospital medical services,” says BREG CEO Doug Wells.  “Our team is actively pursuing medical tenants to serve the community’s growing needs.”   

The Mineral project is BREG’s fifth transaction supporting MOB repositioning project in the past twelve months totaling nearly 600,000 square feet.

Jeff Wood and Monica Wiley from CBRE listed the property for sale on behalf of WorldVenture, which operated its headquarters at the site for nearly 20 years.

“1501 West Mineral is a highly visible building with excellent access to nearby retail amenities and medical services. Demand for high quality, well-located healthcare options in Douglas County continues to outpace supply, which has been limited in part by rising construction costs,” noted Jeff Wood, CBRE.

Jeffrey Wood and Monica Wiley from CBRE listed the property for sale.

About Broe Real Estate Group

Broe Real Estate Group, an affiliate of The Broe Group, acquires, develops and manages commercial real estate assets. Affiliated companies own and manage office and industrial properties, medical office buildings and multi-family communities across the country, including premier assets in many of the most desirable markets. The Broe Group has a 40-year history of value-add real estate investing in Northern Colorado and across the United States. We improve value though the implementation of focused business plans that increase cash flow and create stable income streams. Additional information is available at broerealestate.com.

Broe Real Estate Group MOB Repositioning Projects Eclipse 530,000 SF in Past Twelve Months

Broe Real Estate Group MOB Repositioning Projects Eclipse 530,000 SF in Past Twelve Months

$15.6M Dry Creek Medical Office Building Latest Acquisition

Aug. 1, 2019

DENVER – August 1, 2019 – Broe Real Estate Group (BREG), a private real estate investment firm and affiliate of The Broe Group, headquartered in Denver, CO, confirmed the $15.6M acquisition of a 57,257 square foot medical pavilion located on 4.23 acres at 125 Inverness Drive East, Englewood, Colo.

Constructed in 2000, the three-story multi-specialty medical building located in Arapahoe County is uniquely located proximate to four greater Denver area hospitals including Sky Ridge Medical Center (3.4 miles), Centennial Medical Plaza (2.3 miles), Medical Center of Aurora (7.5 miles) and Littleton Adventist Hospital (6.2 miles). The property is an attractive, off-campus medical office asset located in a well-established suburban office and residential hub within one of the fastest growing metropolitan regions in the United States. 

“This acquisition is the latest example of our medical office building repositioning strategy,” says BREG CEO Doug Wells. “As a local operator, the BREG team is well-suited to address pending tenant roll and secure strong long-term occupancy. By investing significant capital in physical upgrades and leasing costs and executing a focused asset management program, we will ensure that our tenants can continue to deliver the needed medical services for Coloradans that live and work in south Denver’s rapidly growing region.”

Dry Creek Medical Office Building marks BREG’s fourth major MOB repositioning project in the past twelve months totaling nearly 540,000 square feet. Medical assets continue to play a major role in BREG’s Western United States acquisition strategy as it continues to assess opportunities with viable institutional medical exits.

Chris Bodnar and Lee Asher from CBRE Healthcare Capital Markets listed the property for sale. “Market demand for non-hospital medical services is at an all-time high and Colorado’s population growth continues to exceed national growth rate. Dry Creek Medical Office Building is an institutional quality asset within a highly established, high growth market,” noted Chris Bodnar, CBRE Vice Chairman.

About Broe Real Estate Group

Based in Denver, The Broe Group and its affiliates form a privately-owned, multi-billion-dollar real estate, transportation, energy and investment organization with assets owned and managed across North America. Together, Broe Group managed companies employ more than 1,000 people and provide employment for thousands of others through operations such as its Great Western Industrial Park in Northern Colorado. Its transportation affiliate, OmniTRAX, Inc., is one of North America’s largest private railroad and transportation management companies specializing in: management services, railroad and port services, intermodal solutions and industrial switching operations. Its energy affiliates include Great Western Oil & Gas Company, the largest private operator in the third most prolific U.S. basin. Broe Real Estate Group acquires, develops and manages office and industrial properties, medical office buildings and multi-family communities across the country, including premier assets in many of the most desirable markets. The Broe Group also has multiple investment affiliates, including Three Leaf Ventures, which is focused on innovative healthcare technology start-ups. Learn more at  broe.com.

Broe Real Estate Group Sells Four Building California Medical Campus

Broe Real Estate Group Sells Four Building California Medical Campus

Mar. 6, 2019

DENVER, Feb. 21, 2019 /PRNewswire/ — Broe Real Estate Group (BREG), a private real estate investment firm headquartered in Denver confirmed the sale of a four-building 287,539 square foot medical office park located at 1620, 1640, 1660 and 1680 East Roseville Parkway (Parkway Corporate Plaza) in Roseville, Calif. The buyer was a joint venture between Anchor Health Properties and an affiliate of Morgan Stanley.

This transaction marks BREG’s second medical office turnaround in the past three months. In November, the company sold the 121,789 square foot Shady Grove Maryland Medical Pavilion after its transformation from vacant to 72.5% occupancy in just four years. Combined, these medical office projects exceeded $121 million in combined gross asset value.

“We see good intrinsic value in the suburban office space, in particular medical office properties, and will continue to seek repositioning opportunities in Colorado and other western growth markets,” said BREG CEO Doug Wells. “Parkway Plaza and Shady Grove Medical Pavilion were both challenged assets with significant potential that were successfully transformed into vibrant and diversified medical campuses. Our hands-on approach with tenants has forged strong relationships with regional and national medical providers.”

Parkway Corporate Plaza was constructed in 1999-2000. At its September 2015 acquisition, the property was carried a near 30% vacancy rate and faced substantial pending medical and office tenant lease expirations. BREG immediately prioritized near-term rollover and in-place vacancy while implementing a significant capital plan across the property. The asset repositioning strategy resulted in a stabilized occupancy of 100% with a weighted-average lease term in excess of seven years upon sale.

“Parkway Corporate Plaza is a prime example of our value-add investment strategy,” said BREG vice president Peter Albro. “At acquisition, we believed in the asset’s central location and its functionality for both office and medical users. We implemented a repositioning business plan to better serve the high concentration of health care providers in the immediate area.”

Today Parkway Corporate Plaza is home to a deep pool of medical and office users. The tenant roster at the property currently includes Kaiser Permanente, Sutter Health, UC Davis Health, Wells Fargo and the State of California.

Seth Siegel and team from Cushman and Wakefield’s San Francisco office listed the property for sale.

About Broe Real Estate Group

Broe Real Estate Group, an affiliate of The Broe Group, acquires, develops and manages commercial real estate assets. Affiliated companies own and manage office and industrial properties, medical office buildings and multi-family communities across the country, including premier assets in many of the most desirable markets. The Broe Group has a 40-year history of value-add real estate investing in Northern Colorado and across the United States. We improve value though the implementation of focused business plans that increase cash flow and create stable income streams. Additional information is available at broerealestate.com.

Broe Real Estate Group Sells Medical Pavilion, Plans to Reinvest in Local Market

Broe Real Estate Group Sells Medical Pavilion, Plans to Reinvest in Local Market

Nov. 27, 2018

9601 Blackwell RoadDENVER – November 27, 2018 – Broe Real Estate Group (BREG), a private real estate investment firm headquartered in Denver, CO, confirmed the sale of a 121,789 square foot medical pavilion located at 9601 Blackwell Road in Rockville, MD.

Constructed in 2000, Shady Grove Medical Pavilion was acquired in a 2014 auction as a distressed asset. For the past four years, the BREG team invested in substantial capital improvements and implemented an active management plan to convert the property from standard office zoning to its current medical office status. The asset repositioning strategy saw project occupancy rise from its vacant status at acquisition to a current occupancy rate of 72.5%.

“This project is representative of BREG’s deep value-add investment program,” says BREG CEO Doug Wells. “Our team successfully repositioned the property and created a durable cash flow stream by executing long-term leases with a diversified roster of medical tenants. This disposition allows us to realize the material value created from our project business plan and redeploy our investment capital into new repositioning opportunities.”

The buyer of the Rockville property is Texas-based Caddis Healthcare Real Estate who acquired Shady Grove Medical Pavilion as a strategic addition to its real estate holdings. “Shady Grove Medical Pavilion is a high quality asset that lays out well for a multi-tenant strategy,” said Caddis CEO Jason Signor. “The property is a great investment for Caddis, it’s already home to a strong medical tenant base, and we have the opportunity to unlock additional upside by leasing up the remaining vacant space in the building.”

Chris Bodnar, Lee Asher and Shane Seitz from CBRE Healthcare Capital Markets listed the property for sale. “The strong anchor tenancy by Shady Grove Fertility, attractive demographics and its prominent, high-traffic location drove significant demand for the offering,” noted Chris Bodnar, CBRE Vice Chairman. Shady Grove Medical Pavilion is located adjacent to both the Adventist Healthcare Shady Grove Medical Center and the Johns Hopkins University Montgomery County Campus.

About Broe Real Estate Group

Broe Real Estate Group, an affiliate of The Broe Group, acquires, develops and manages commercial real estate assets. Affiliated companies own and manage office and industrial properties, medical office buildings and multi-family communities across the country, including premier assets in many of the most desirable markets. Based in Denver, The Broe Group and its affiliates form a privately-owned, multi-billion dollar real estate, transportation, energy and investment organization with assets owned and managed across North America. The Broe Group has a 40-year history of value-add real estate investing in Northern Colorado and across the United States. We improve value though the implementation of focused business plans that increase cash flow and create stable income streams. Additional information is available at broerealestate.com.