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Dunton Commercial Acquired by Local CRE Pros

The New Ownership Ends Brokerage, Will Focus on Property Management
January 17, 2018
Pictured: Nate Melchior, who along with Taylor Fenn and Peter Katz has purchased Dunton Commercial.

Dunton Commercial LLC, a Greenwood Village-based commercial real estate company founded in 1904, has been acquired by three local professionals who want to expand the company’s acquisition and property management businesses, and have ended its brokerage division.

Taylor Fenn and Peter Katz, owners of Walpin & Co., and Nate Melchior, formerly a senior real estate asset manager with Wells Fargo Asset Management, came together to purchase Dunton from Carl Chang. Walpin and Dunton have been combined into one company operating under the Dunton name.

"We saw a great opportunity to take an established Denver commercial real estate company, and transform it by building around new, highly talented management and state of the art systems and processes," Fenn said.

Together, the companies have 2.2 million square feet of assets under management, Melchior said in an interview with CoStar News. Melchior will serve as CEO of Dunton.

Dunton has always focused on retail and office property management, with some industrial mixed in. It has also maintained a brokerage arm, but the new owners will close down that service line to focus on acquisition and property management.

That resulted in layoffs for the brokerage professionals there, Melchior said, but did not specify how many people were impacted.

"As part of the effort to focus on relationship driven growth of the property management, Dunton will cease all brokerage services by the end of first quarter 2018," Melchior said. "While the Dunton commercial brokers transition independently, Dunton recognizes their contributions and will support their continued service of existing accounts."

The first goal is growing the property management business in a way that is consistent with the existing portfolio, Melchior said. Dunton will provide property management for buildings ranging in size up to 250,000 square feet. The company’s existing portfolio spans from Fort Collins to Colorado Springs.

"Having spent the last 13 years on the ownership side of the commercial real estate business, I understand that the success of an investment property can hinge on the quality of the property management," Melchior said.

Additionally, Melchior plans to use his acquisitions experience at Wells Fargo to expand the acquisitions portfolio by seeking out stable properties that are $1 million to $10 million in all asset classes.

Molly Armbrister, Denver Market Reporter  CoStar Group   
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