Welcome to the Denver Gazette’s Metro Moves. You’ll get the latest metro Denver openings, closings, hiring and promotion briefs here. To submit your company’s news, drop an email to savannah.mehrtens@denvergazette.com.
Acquisition
Amplify Development Co. is expanding in the state with the acquisition of Vista Apartments near the University of Denver campus, according to a news release.
The Culver City, Calif.-based company bought the apartment complex at 1920 S. University Blvd. for $41.3 million — the firm’s third deal in Colorado since 2021. Senior Director Nick Steele and Director Tyler King with Berkadia Denver represented Amplify in the transaction and Director Jack Brett with Newmark’s Student Housing Group represented the seller.
The complex is a class A, off-campus student-centered apartment near DU, but is not strictly a student apartment complex, according to the release. It is a nine story building erected in2008 with 84 units and 284 bedrooms. There are two levels of above-grade parking along with amenities. There are two, three and four bedroom options fully furnished with private bathrooms.
“We see a lot of growth potential in Colorado and the broader Denver market and are eager to continue to expand our portfolio in the region for years to come,” Alec Paddock, managing director and co-founder of Amplify Development Co., said in a press release.
Promotions
Leeds West Groups, an investment fund focused on franchise brands based in Greenwood Village, named Derek Wessels as it's new CEO, according to a news release.
The announcement came with that of two other promotions as well.
Wessels, the former COO and president of automotive, assumed CEO duties Jan. 1. Judd Shader, the previous CEO, founder and board member, will take on role as executive chairman. Joshua Weinreich, current chairman of the board of directors, will become a board member.
Wessels had previous experience with Firestone Complete Auto Care and Bridgestone Retail Operations.
“I’m looking forward to drawing on this talented team assembled to implement our strategic initiatives that will take LWG to its next level of growth,” Wessels said in the release. “I’m fully committed to providing our team with the highest level of support possible.”
New hire
FullSpeed Automotive, a franchise of automotive aftermarket repair facilities based in Greenwood Village, brought on Kate Hyatt as Chief People Officer effective Jan. 9, according to a news release.
The company is known for its brands including Grease Monkey, SpeeDee Oil Change & Auto Service and Kwik Kar
Hyatt has 30 years of human resource experience, some of which was spent in senior leadership with Corporate Express, Staples, ProBuild, Healthgrades and Vantage Data Centers. She will use "a data-driven approach to aid in business growth," according to the release. Her previous experience in mergers and acquisitions will aid in the upcoming goals for the company.
The company is planning for significant growth in the new year. In 2022, it had 270 combined openings, 36 awarded franchisees, and 44 acquisitions. The growth goal is 1,000 units by the end of 2023, according to the release.
“As a people-first organization, we are confident that Kate will help strengthen our company’s culture and help us continue to put our employees at the center of every business decision as we continue to grow,” CEO Rob Lynch said in a the release.
