Hip investment: HIPPCapital has launched its initial mortgage mutual fund portfolio in Denver with 27 residential properties.
Like a mutual fund, HIPP provides diversification to investors, said Christian Hageseth, the company’s president. An investor buys a property with a mortgage, and it’s pooled with the other properties.
“The profit or loss is related to the performance of all 27 properties,” he said.
HIPP, which stands for Home Investment Portfolio Partners Capital, is starting a second pool in Junction City, Kan.
Greener pastures: Vercuity Solutions Inc. is relocating its headquarters from Greenwood Village to Pueblo with the help of a $500,000 incentive package from the Pueblo Economic Development Corp.
The move will expand Vercuity’s space from 12,252 square feet to 20,000 square feet. In addition to the incentive package, the company received a rental rate reduction of nearly $3 a square foot and turnkey tenant improvement allowance of $30 a square foot.
Stone’s throw away: East West Partners and Woods Partners are in the design phase for City House, a 23-story condo tower planned to complement Glass House.
Like Glass House, which sold out within weeks, sales for City House won’t start until construction is underway after the first of the year.
Unlike Glass House, which is oriented toward Commons Park, City House will be oriented toward downtown, fronting 18th Street.
Java, nosh and cash: Starbucks, Heidi’s Brooklyn Deli and a bank have inked leases in the new Environmental Protection Agency building rising at 16th and Wynkoop streets.
There’s still space available for a full-service restaurant in the 231,000-square-foot building, which boasts the first “green” roof in Colorado. The EPA headquarters is being developed by Opus Northwest LLC.
Staff writer Margaret Jackson can be reached at 303-954-1473 or mjackson@denverpost.com.
