Denver — Cardinal Groups Cos. has promoted Cara Athmann to chief operating officer. Athmann previously served as the Denver-based company’s chief technology officer. Prior to joining Cardinal in 2018, she most recently served as vice president at RevGen Partners. “We truly believe that the future of operations will go through technology, so it made sense for us to look at our CTO, Cara Athmann, as a logical choice to be the company’s next COO,” says CEO Alex O’Brien. “Cara not only understands the technology landscape, but she is a visionary …
Colorado
Denver — Cardinal Group Cos. has promoted John O’Brien to the role of chief administrative officer. In his new role, O’Brien will oversee the day-to-day operations of the Denver-based company’s corporate business. He will also oversee functions including finance, accounting, risk management and business administration. O’Brien previously served as Cardinal Group’s vice president of finance. “John is everything we could have asked for in a teammate and business leader,” says Jason Luker, co-founder and CFO of Cardinal Group. “He has been a key driver of platform growth while also bringing …
Brickstone Acquires Kensington Apartments Near the University of Colorado Boulder for $71 Million, Plans Renovation
Boulder, Colo. — Brickstone Partners has acquired Kensington Apartments near the University of Colorado Boulder for $71 million. The property offers 163 units one block from the university’s campus, and features shared amenities including a clubhouse, fitness center, indoor swimming pool and an on-site laundry facility. Brickstone plans to begin a comprehensive two-year renovation program imminently, which is set to incorporate upgrades to unit interiors including cabinetry, countertops, appliances, flooring, lighting and plumbing fixtures; extensive enhancements to the property’s shared amenity spaces and clubhouse; refreshed exterior landscaping; and the addition …
Denver — Cardinal Group Cos. has hired Jacob Kosior as vice president of centralized services. In his new role, Kosior will be responsible for building and implementing the Denver-based company’s centralization platform and sourcing strategic technology partners. Centralized services allow onsite teams to prioritize and focus on the residential experience while removing geographic barriers for acquiring talent, according to Cardinal. “We believe that the key to a successful centralization strategy is to have a people over technology focus,” says CEO Alex O’Brien. “We love Jacob’s obsession with the resident experience …
Denver — Yugo has named Joe Goodwin senior vice president of U.S. operations. In his new role, Goodwin will focus on operational performance, taking an active role in U.S. transaction activity and business development, while working with key partners to support the Denver-based company’s student initiatives on sustainability and personal growth. Goodwin has over 18 years of experience in the student housing, multifamily and affordable housing sectors. Most recently, he served as senior vice president of analytics and research with Asset Living. “This is a really exciting time to join …
FPA Multifamily Sells 136-Bed Student Housing Property in Fort Collins for $25.5 Million
Fort Collins, Colo. — FPA Multifamily has completed the disposition of The Social Fort Collins, a 68-unit student housing community in Fort Collins. A Denver-based private equity group acquired the property for $25.5 million. Constructed in 2021, the property offers 136 beds and is located within walking distance of the Colorado State University campus and Canvas Stadium. Bill Morkes and Craig Stack of Colliers represented the seller in the transaction.
Denver — Cardinal Group Cos. has recapitalized an eight-property portfolio of student housing communities totaling 5,505 beds. The portfolio consists of mid-rise and garden-style properties located near Tier I universities. Prior to the recapitalization, the portfolio was held in a Cardinal-sponsored fund targeting value-add student housing acquisitions, with Makena Capital Management and The Townsend Group serving as lead investors. Further details on the properties were undisclosed. “We are pleased to realize this investment for our investors and further expand Cardinal’s portfolio and track record,” says Madison Meier, senior vice president …
Denver — Yugo has named Simon Leopold global chief financial officer. In his new role, Leopold will lead the Denver-based company’s global finance function and compliance teams while working with key stakeholders to support Yugo’s strategic growth targets, with a focus on both operational performance and profitability. Leopold has more than 20 years of experience in the real estate and banking sectors. He most recently served as chief financial officer with Taubman Centers and Agree Realty. “Simon’s appointment is an integral part of Yugo’s future and growth as the business continues …
CBRE Arranges Sale of Two-Property Student Housing Portfolio Near the University of Colorado, Boulder
Boulder, Colo. — CBRE has arranged the sale of a two-property student housing portfolio located near the University of Colorado, Boulder. Greystar acquired the communities — The Hive 9Seventy and The Hive Baseline — for an undisclosed price. Jaclyn Fitts, William Vonderfecht and Casey Schaefer of CBRE represented the undisclosed seller in the transaction. The Hive 9Seventy is located at 970 28th St. and The Hive Baseline is located at 2726 Moorhead Ave. Both properties are located within walking distance of the university. “Our team is thrilled to represent this …
Denver, Colo. — Global student housing operator Yugo has appointed Rui Barros to the role of global chief operating officer. In his new role, Barros will lead the Denver, Colorado-based company’s operations and commercial teams, while working with partners to support student residents. “We are very pleased to welcome Rui to the business,” says Aly El-Bassuni, CEO of Yugo. “His appointment comes at a time when we are redefining the college living experience for students globally, and his expertise in the hospitality sector and developing brand value strengthens our leadership …