top of page
Search

Denver Post: Featuring Colfax And Halsted

Paul Vranas

Updated: Mar 8, 2024

Denver - February 2, 2024





"A new development group and investment firm are making their debuts on Tennyson Street.


The two businesses are partnering to construct an infill multifamily development at 4114 N. Tennyson St. in Berkeley. The apartment building, which will be three stories plus a mezzanine, includes 3,000 square feet of ground-floor retail space with 27 apartments upstairs.


“We are center ice,” said Brian Funk, principal at Osage Properties Group, the main developer of the project. “I love what they’re doing with The Lantern across the street. The vision is to bring a local-type business into the fold.”


Funk’s group purchased the 12,000-square-foot lot for $1.8 million in January 2021. His current plans call for studio, one-bedroom and two-bedroom apartments, averaging about 700 square feet. The top floor will feature two-level living spaces thanks to the planned mezzanine.


There will be a roof deck for tenants up top and most units will come with their own private balcony.


“The neighborhood and the location is the amenity,” Funk said.


It will be Funk’s, and Osage’s, first ground-up development, expected to be completed in early 2025. The 40-year-old moved to Colorado from New York City in 2018 after spending nearly 15 years working in investment banking. He’s made some real estate investments himself, but nothing like the scale of this Tennyson project.


His partner, Kirk Scott, has a more focused background in the industry, previously having served as chief financial officer for a real estate investment fund, Funk said.


Denver-based Alpine Investments is a development partner in the project. Schneider Building Co. is the general contractor, and NEOstudio is the project architect. Elevations Credit Union provided the construction debt, amounting to $8.2 million, public records show.


The project is also the launch investment for Colfax & Halsted, a new firm.


“This is my first passive capital raising and placing investment. I’ve invested for 20-plus years on my own as a small investor,” said Paul Vranas, the founder and sole member of the new company.


Vranas plans to invest in three other projects this year, targeting “neighborhoods where young professionals gravitate towards” such as Five Points, Congress Park and Cheesman Park, he said.


“We try not to be market timers, but we try to pick up a couple of investments a year so we have some diversification,” he said.


Colfax & Halsted derives its name from the East-West Colfax Avenue in Denver and the North-South Halsted Street in Chicago. Both streets historically played host to the city’s respective Greek community. Vranas, a third-generation real estate investor, said the name plays homage to his Chicago, Denver and Greek roots. His grandparents emigrated to the U.S. from the nation.


(They) hustled for the American dream and picked up an apartment building along the way,” he said.


His father and uncles ran a commercial real estate firm in Chicago for over 30 years, specializing in multifamily properties. Vranas’ followed in the footsteps of his older relatives, buying his first condo at 21. He moved to Colorado in 2011 after running his own residential brokerage. Now 45, Vranas feels like he is ready to hop back into the real estate world full time.


“It’s very much a relationship-driven business. A lot of it is through word of mouth and referrals. Because of where interest rates are and the lack of financing that’s coming from typical sources, I found that a lot of developers in Denver are open to new investment sources,” he said."








47 views
Colfax-And-Halsted-Transparent-small-v1-wo-tag.png
Send Us a Message

Denver, CO

  • LinkedIn

Thanks for submitting!

NO INVESTMENT ADVICE The Content is for informational purposes only, you should not construe any such information or other material as legal, tax, investment, financial, or other advice. Nothing contained on our Site constitutes a solicitation, recommendation, endorsement, or offer by Colfax and Halsted or any third party service provider to buy or sell any securities or other financial instruments in this or in in any other jurisdiction in which such solicitation or offer would be unlawful under the securities laws of such jurisdiction.

 

All Content on this site is information of a general nature and does not address the circumstances of any particular individual or entity. Nothing in the Site constitutes professional and/or financial advice, nor does any information on the Site constitute a comprehensive or complete statement of the matters discussed or the law relating thereto. Colfax and Halsted Investments is not a fiduciary by virtue of any person’s use of or access to the Site or Content. You alone assume the sole responsibility of evaluating the merits and risks associated with the use of any information or other Content on the Site before making any decisions based on such information or other Content. In exchange for using the Site, you agree not to hold Colfax and Halsted, its affiliates or any third party service provider liable for any possible claim for damages arising from any decision you make based on information or other Content made available to you through the Site.

NOT AN OFFER This communication is neither an offer to sell, a solicitation, nor an offer to buy any security, which can be made only by reviewing the final Operating Agreement and Private Placement Memorandum.  All potential investors must meet applicable suitability standards.  Potential investors are advised to consult with their tax, legal, and financial advisors.  

 

FORWARD LOOKING STATEMENTS Some of the communications contained herein are forward-looking statements.  You should not rely upon forward-looking statements as predictions of future events.  These statements involve known and unknown risks, uncertainties, and other factors that may cause the project's actual results, level of activity, performance, or achievements to be materially and adversely different from any future results, levels of activity, performance, or achievements expressed or implied by these forward-looking statements.

 

In some cases, forward-looking statements can be identified by terminology such as "may", "will", "should", "expects", "plans", "anticipates", "believes", "targeted", "projected", "underwritten", "estimates", "predicts", "potential", or "continue"--or the converse of these terms or other comparable terminology.  These forward-looking statements include, but are not limited to, statements concerning the investment, property, risk factors, plans and projections.

Although the issuer believes the expectations reflected in the forward-looking statements are reasonable, guarantees of future results, levels of activity, performance, or achievements cannot be made.  Moreover, neither the issuer nor any other person or entity assumes responsibility for the accuracy and completeness of forward-looking statements.  No person or entity is under any duty to update any of the forward-looking statements to conform them to actual results.

 

Except as required by law, neither we nor any other person assumes responsibility for the accuracy and completeness of the forward-looking statements.  We undertake no obligation to publicly update any forward-looking statements for any reason, or to conform these statements to actual results or to changes in our expectations.

 

Investing in private placement securities entails a high degree of risk, including illiquidity of the investment and loss of principal.  Please read the offering document before investing.

©2024 by Colfax And Halsted Investments LLC

bottom of page