ALTO Real Estate Enters Denver With Shopping Center Buy

The 91 percent-leased asset is shadow-anchored by Home Depot, Walmart and Sam Club’s.
Quebec Square. Image courtesy of ALTO Real Estate
Quebec Square. Image courtesy of ALTO Real Estate

ALTO Real Estate has purchased Quebec Square, a Denver shopping center totaling more than 207,000 square feet. The company paid $42.3 million for its first asset in the metro. At the time of the sale, the property was 91 percent leased. Goldman Sachs secured a $28 million fixed-rate, seven-year loan for the acquisition.

Quebec Square last traded in 2015, when Inland American Real Estate Trust Inc. acquired it for $52.3 million, according to The Denver Post. Walker & Dunlop’s team in Los Angeles arranged the debt on behalf of ALTO Real Estate Funds.

Located at 7800 Smith Road in Stapleton, the property is approximately 5 miles from downtown, providing convenient access to Interstate 70 and to Quebec Street.

The shopping center is shadow-anchored by Home Depot, Walmart and Sam’s Club. The tenant roster includes Ross Dress for Less, PetSmart, Office Depot and Panera Bread.