Kenai Capital Advisors Highlighted in Colorado Real Estate Journal

Published by Kenai Marketing on

Jacka, Avalon. “Kenai Capital brokers sale of 30K-sf in-progress office project.” Colorado Real Estate Journal, 4 Feb. 2026, https://cdn.etype.services/Production_Prod/Jobs/702/2026-01-30/508458/FlippingBook/Colorado-Real-Estate-Journal_508458/index.html.

 

DENVER – A office development currently under construction in the Lower Highland neighborhood sold in an all cash transaction in December.

 

WT Investment Ltd. purchased the building under construction at 2926 N. Umatilla St. from PV Umatilla I LLC for $3.45 million, according to Denver County public records. The 30,553-square-foot project is expected to be delivered in approximately six months.

 

Upon completion, the building will feature high-quality Type 1 construction and will include 5,000-sf floor plates, a second-floor deck, a fifth-floor balcony, a parking garage with multifloor hydraulic parking, and views of the mountains and Denver skyline. Tenants are expected to lease full floors, though some smaller-suite flexibility may be offered. The prime location offers direct access to downtown Denver via 15th Street and to Interstate 25 via Speer Boulevard, providing connectivity to the broader Denver metro area.

 

In September, the lender took formal control of the property, which was burdened by multiple mechanics’ liens and unresolved construction claims with no in-place income. The situation required a buyer capable of navigating completion risk and title complexity. Kenai Capital Advisors’ Canyon Law, Garrett Neustrom and Jules Sherwood represented the lender in the sale.
The team’s process focused on identifying buyers willing to acquire an incomplete development while maintaining certainty of execution for the lender.

 

Kenai sourced a buyer willing to transact as is, and commit to a compressed diligence and closing timeline, allowing the deal to close before the end of the year.

 

“This was not a traditional office sale,” Law said. “The lender stepped into a half-built asset with no income stream, outstanding liens, and real construction risk. By running a targeted process and focusing on buyers who could close all cash and move quickly, we were able to deliver a clean exit and a high-certainty outcome in a very short window.” The transaction highlights Kenai’s “special situations expertise, even on incomplete construction with complicated title,” a statement from the firm said.

 

“Investors are increasingly interested in office and even willing to take on development risk for a well-located asset like 2926 Umatilla St.,” Law said. “This supports the national sentiment that the bottom has been put in for office, and we are likely to see transaction volume for office assets continue to tick upward.”

 

Based in Littleton, Kenai Capital Advisors is a commercial real estate investment sales and capital markets advisory firm. The company focuses on industrial, office, data center and retail assets in the Mountain West region. The team has been active in the Denver metro area in recent months, facilitating the sales of the Church Ranch Flex Portfolio in Westminster in December, a 9.98-acre industrial outdoor storage property in Denver in December, and a two-building industrial outdoor storage portfolio located in Denver and Oklahoma City in October.

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