Friday, June 3, 2011

Housing News Digest, June 3

Denver 4th in mid- and high-priced homes
Only three cities out-performed Denver-area homes in the mid-and high-price points, according to an analysis of 17 major markets by S&P/Case-Shiller.Most of the media attention regarding the S&P/Case-Shiller Home Prices Indices released this week was that 12 of the 20 cities it tracks set new low during this real estate cycle, succumbing to the dreaded double-dip. Denver narrowly avoided that fate, as reported previously by InsideRealEstateNews.

Sterling Ranch rezoning official today
Today, the Douglas County Board of Commissioners formally approved the $4.4 billion Sterling Ranch development that is expected to create thousands of jobs and generate an economic impact of $425 million annually at build-out. The board on May 11 had initially voted to approve the Sterling Ranch rezoning and water appeal application, following a nine-hour hearing, but only gave its final approval that spelled out all of the necessary agreement details on Tuesday.

Five Aspen-area sales over $10 million in May

ASPEN — The month of May saw five real-estate sales in excess of $10 million in Pitkin County, crowned by the purchase of an Owl Creek Ranch subdivision property for $20.5 million.

Known as Black Bear Ranch, the 77-acre property, including a 12,500-square-foot house, was not listed when it was acquired May 31 by Antony Ressler of Encino, Calif.

Flats at Whisper Sky apartment complex sells
Prim Whisper Sky LLC, a subsidiary of Boston-based real estate adviser TA Associates Realty, bought Flats at Whisper Sky apartment complex for $35.4 million on April 26, public records show.

ProLogis-AMB merger closes
The merger of global warehouse operator ProLogis of Denver with San Francisco's AMB Property Corp. closed Friday, creating an industrial-real-estate giant headquartered in California, with $46 billion in assets owned or managed, the Denver Business Journal reports.