August 31, 2011
W.G. Nielsen & Co., a leading investment banking firm headquartered in Denver, announced that Lamar Companies and Real Capital Solutions acquired Conifer Marketplace, an 86,489 square foot neighborhood shopping center situated on 8 acres of land and located at the intersection of Highway 285 and Highway 73 in Conifer, Colorado. Terms of the agreement were not disclosed.
"Conifer Marketplace is the third closing we have completed with Real Capital Solutions since the beginning of 2011; we are pleased to have this team in place and look at this as just the beginning," said Lamar President Mark Kalkus. "As it relates to this particular property, we chose this project because we are confident that there is a significant amount of upside in the value of the property that can be obtained through aggressive leasing strategy, particularly the co-anchor space."
Sharon Eshima, President of Real Capital Solutions added, "Lamar's analysis of this and other projects convinced us that they have the operating expertise to create value for both of our firms; W.G. Nielsen & Co. was the intermediary that introduced us and led to this partnership."
Blake Nielsen, who led the deal for W.G. Nielsen & Co., believes that this is another example of opportunity created in turbulent times: "Lamar recognized the strength of the location first and foremost. They have a vision for the potential to re-tenant the center which overcame initial objections about higher-than-normal vacancy rates. I am glad to have been involved in the genesis of this partnership."