Colmena Group is a real estate development and investment company headquartered in Salt Lake City, Utah. Our company is uniquely positioned to take advantage of strategic partnerships, joint ventures, and development opportunities in today’s marketplace.
Founded and headed by Jonathan W. Bullen, Colmena Group has successfully developed, owned and managed properties in multiple real estate asset classes including multi-family apartments, commercial office, student housing, research parks, retail, hotel, industrial warehouses, and mixed-use properties. Since its inception in 2008, Colmena has experienced outstanding growth, with a portfolio that exceeds 5 million square feet and nearly 11,000 housing units. The managing partners of Colmena Group have more than 30 years of real estate experience including development, acquisition, management, tenant representation, and disposition.
The success of Colmena Group is based upon a desire to seek prudent opportunities. Over the years, Colmena Group has established a sound underwriting and due diligence process that allows us to effectively assess the value of real estate assets. We seek opportunities in underserved markets that traditionally get passed by larger investment and development companies. This process has led us to amass a diverse portfolio of assets spanning asset classes as well as markets. Colmena Group has a long-term approach to real estate investing, focused primarily on harvesting cash flow. Our size allows us to be nimble, moving quickly in anticipation of new opportunities based on changing market conditions. We are also flexible in our working relationships which allows us to structure partnerships with a diverse network of groups, ranging from large institutional investors to single individuals.
Over the course of its history Colmena has invested in approximately 5 million square feet of commercial real estate and nearly 11,000 housing units. The primary principal of Colmena Group, Jonathan Bullen, is a founding member and major investor of Wasatch Premier Properties which started in 1990. Wasatch Properties has acquired, sold and managed over 20,000 units. Today, Wasatch manages 16,500+ units and more than 3 million square feet of office and other commercial space. In 2009 Colmena Group was instrumental in forming a value-add real estate fund, Woodbury Strategic Partners (“WSP”) as a general partner. WSP raised approximately $141 million in equity and to date has purchased 23 assets totaling $430 million in purchase cost. It’s anticipated that total assets in WSP will be 25-28 and $500 – $550 million of total cost.