DENVER — The developer betting the biggest on the Golden Triangle closed on two more development sites this week.
Charlotte, North Carolina-based Lennar Multifamily Communities — which builds apartment complexes — paid $22 million earlier this week for the parking lots at 1100 N. Bannock St. and 1115 Acoma St., immediately west and northeast of the historic Evans School.
The deal comes almost exactly a year after LMC purchased the former elementary school itself and the parking lot to the north for $20 million, then immediately flipped the school building to Denver-based City Street Investors and Columbia Group for $11 million.
The same seller — Continuance LLC, an entity affiliated with the Eber family — was involved in both deals. The Ebers had owned the school building since the 1970s, with it going almost entirely unused for that entire period. NAI Shames Makovsky founder Evan Makovsky and Darrin Revious, formerly of the firm, marketed the property on behalf of the sellers.
The two parcels that LLM purchased this week are nearly entirely devoted to parking, although the Bannock Street lot does have one building on a portion of it, right at the intersection with 11th. The structure was previously home to gym Cole Fusion Fitness.