2012 Ends with Property-Buying Boom
Total Page:16
File Type:pdf, Size:1020Kb
DISCOVERIES BANKING & FINANCE NREL scientists team up Wealth-management firms on alternative fuel project walk capital gains tightrope 10A 11A $1 Volume 32 Issue 2 | Jan. 18 - 31, 2013 2012 ends with property-buying boom BY MICHAEL DAVIDSON several multimillion dollar deals, [email protected] Commercial investors complete the largest being University of Colo- rado Health’s $23.9 million pur- BOULDER — The year 2012 chase of land for a new facility. ended with a December to remem- flurry of big deals in December Unsurprisingly, the list of the big- ber for investors in commercial and gest deals was dominated by sales of multifamily real estate in Boulder by SKLD Title Services Inc., 23 $1 million each. Together, the deals apartment properties. and Broomfield counties. commercial or multifamily hous- were worth more than $163 mil- The biggest deal, the sale of the According to Boulder County ing properties were sold in Boulder lion. Prana Apartments in Lafayette for property records and data supplied County in December for more than Broomfield County also posted ➤ See Boom, 9A Help wanted Startup hub helps those offering — and seeking — tech jobs Bills target business climate change BY MICHAEL DAVIDSON [email protected] DENVER — For a state with a reputation for being business- friendly, Colorado officials and lawmakers feel they lack the finan- cial incentives and assistance programs many other states can offer compa- nies. In the next four months, legislators in the Colorado Gen- eral Assembly will attempt to change that. JONATHAN CASTNER The assembly opened its 2013 Luke Beatty, co-managing director of TechStars Boulder, addresses a recent event staged in response to recent layoffs session Jan. 9 and is to adjourn May in Boulder’s tech community. “There are a lot of people looking for their next gig,” Beatty said, “and there are a lot of 8. Among the scores of bills sub- people looking for the next great person for their company.” See story, 6A. mitted during its opening days are ➤ See BIlls, 8A CONTENTS Serving Boulder & Broomfield Counties Awards .........................................23A For the Record .............................20A Visit bcbr.com for breaking news Bank Notes .................................. 12A Legislative Preview ........................ 7A BCBRdaily ......................................2A Nonprofit Network ........................22A Business Digest ...........................22A On the Job ...................................23A Calendar .......................................23A Publisher’s Notebook ...................26A Editorial ........................................26A Real Estate ...................................24A Eye .................................................3A Sales Smarts ................................18A LISTS Certified Public Accountants .......13A SBA Lenders ................................14A 2A | Jan. 18-31, 2013 Boulder County Business Report | www.bcbr.com Holding firm completes buy of Mile High Banks Editor’s note: The following is a wrap- brand, Allen has said in the past. an interim successor who would serve up of breaking local business stories BCBR Opinion Poll Strategic Growth Bancorp is a bank at least until the 2014 election. Our online question: published daily on the Boulder County holding company. At the chamber, Tayer succeeded 100 How10 will you20 approach30 40 your50 job 60 status70 80 90 Business Report’s website. Sign up 0 The bank operated under federal Susan Graf, who resigned in May after in 2013? for our free BCBRdaily, an all local regulatory supervision for about a more than eight years at the organi- e-news report sent to your email each year, after the Federal Deposit Insur- zation’s helm. He had served on its I like my job weekday. Just click on “Register for ance Corp. issued a “supervisory board of directors and was a spokes- and will stay put E-Newsletters” at www.BCBR.com. prompt correction action directive” man for Corden Pharma Colorado 43% calling for the bank to find more Inc. (previously Roche Colorado) for BY BUSINESS REPORT STAFF capital. more than a decade. I have a job but will [email protected] Posted Jan. 10. Posted Jan. 9. look for a new one 40% LONGMONT — Strategic Pact to boost biotech Growth Bancorp Inc. has bought BCBR DAILY DENVER — The Fitzsimons I am unemployed Mile High Banks, following a Chapter Redevelopment Authority has and looking for a job 11 reorganization bankruptcy of the Tayer to leave RTD board entered into an agreement with the 17% bank’s holding company, according BOULDER — John Tayer, who University of Colorado Technology to the Colorado Division of Banking. was appointed president and chief Transfer Office and the Innovation I am unemployed and will The division approved the trans- executive of the Boulder Chamber in Center of the Rockies in Boulder to wait for a job to find me 0% action Dec. 20, and it wrapped up November, will resign from his elect- help commercialize Colorado biotech at the end of 2012, said Fred Joseph, ed position on the Regional Trans- research and present the best tech- – 63 responses from Dec. 12, 2012 to Jan. 15, 2013 the division’s commissioner. Strategic portation District board of directors, nologies to investment professionals This poll is not scientific and reflects only the opinions of Growth Bancorp in El Paso, Texas, explaining in a letter of resignation from around the world. those Internet users who have chosen to participate. The was to buy Mile High Banks’ stock dated Jan. 8 that his new role at the Working within its statewide net- results cannot be assumed to represent the opinions of for $5.5 million, subject to a court- chamber “is placing demands on my work of approximately 200 biosci- Internet users in general, nor the public as a whole. ordered bidding process, according to time that will conflict with my RTD ence advisers, the innovation center Take the BCBR Opinion Poll online at BCBR.com. U.S. Bankruptcy Court documents board obligations.” will develop a pilot program with filed last fall. Tayer was elected in 2006 and CU’s tech transfer office to identify Ken McCormick, president and 2010 to four-year terms on the RTD research and associated faculty teams The program will be facilitated chief executive of Strategic Growth board representing District O, which with near-term commercial poten- through resources at the Fitzsimons Bancorp, will also become president includes Boulder, Louisville, Lyons, tial. The teams and technologies will Life Science Campus in Aurora. The of Mile High Banks, replacing Dan Superior and Boulder County’s be matched with innovation center campus is made up of the Anschutz Allen, who will remain at the bank in mountain communities. In his res- advisers who have the commercial- Medical Campus and the Fitzsimons a yet-to-be-determined capacity. ignation letter, Tayer wrote that he ization expertise and the ability to Life Science District. Longmont-based Mile High Banks would remain in his post until Boul- present the most promising projects Posted Jan. 9. is expected to keep its name and der County commissioners appoint to the appropriate investors. ➤ See BCBRdaily, 19A Your Money Your Business Your Health 1060 "The Biz" KRCN 1060 AM • Longmont • Denver • Boulder And More! KRCN 1060 AM 303-776-2323 www.krcn1060.com Boulder County Business Report | www.bcbr.com Jan. 18-31, 2013 | 3A Wind-power industry hails tax-credit extension BY DALLAS HELTZELL islation Jan. 2. The extension covers achieved nothing for the industry.” improves and wind gains a foothold [email protected] wind projects that start construction “It takes a long time from start to in electricity production. in 2013. Companies that build and finish,” said Margaret McCall, field “Extending the wind Production BOULDER — Supporters of the install wind turbines backed that associate for Denver-based advocacy Tax Credit is a long-overdue dose renewable-energy industry hailed the provision since it allows for the 18 group Environment Colorado. “The of certainty for manufacturers who passage of legislation designed to avert months to two years it takes to devel- fact that this was grandfathered in is employ more than 5,000 Coloradans the federal “fiscal cliff” for its inclu- op a new wind farm. very encouraging.” and 60,000 workers across America,” sion of a one-year extension of the “We need that time to finance a The production tax credit provides said Sen. Mark Udall, D-Colo., who wind-energy production tax credit. project, procure the construction an income tax credit of 2.2 cents delivered 27 speeches on the Senate “The dark clouds cleared and we contracts and begin work,” Rucker per kilowatt-hour for the produc- floor in 2012 outlining the positive have a ray of sunshine,” said Michael explained. “With that construction tion of electricity from utility-scale economic impact of the wind-ener- Rucker, chief executive of Boulder- ‘tail’ we can complete work in 2014. wind turbines. The industry relies on gy industry. “Although this deal is based Juwi Wind LLC. “We have an That tail is a very important detail; the credit to keep wind-energy cost not perfect, I am glad my colleagues industry again.” without it — had it just been a pure competitive with fossil fuels while have acknowledged what I have spoken President Obama signed the leg- one-year extension — it would have the companies grow, technology ➤ See Wind, 23A Film to focus TextUs.Biz on mountain music studio The legendary Caribou Ranch recording studio will live again — at least on the silver screen. From 1972 until it was dam-