Investors trade apartment complex in Longmont

An eight-unit multifamily building at 3043 17th Ave. in Longmont recently traded for $1.9 million.

According to commercial real estate brokerage CBRE, the deal was the highest price-per-unit multifamily sale in Longmont so far this year at about $237,500 per unit. CBRE broker Charlie Mitelhaus represented the seller in the sale.

Boulder County property records show the seller as Meninx LLC, an entity registered to a residential address in Superior. The buyer, according to the deed, is Diana K Tonn Revocable Living Trust.

In a news release, CBRE described both parties as “private investors.”

The apartment building was built in 1971 and features two-bedroom, one-bathroom units that average 850 square feet, according to CBRE.

“Achieving the highest price-per-unit sale in Longmont this year is a testament to the strong demand for well-located, quality multifamily properties in the area,” Mitelhaus said in the release. “This transaction highlights the continued investor confidence in Longmont’s multifamily rental market.”

Inflight broadband firm Gogo sees stock soar on strong Q1 sales

Gogo Inc. (Nasdaq: GOGO), a Broomfield-based provider of broadband connectivity services for the business-aviation market, saw its stock price take flight in early trading, after its first-quarter sales surpassed Wall Street projections.

The company posted sales of $230.3 million, an increase of 121% compared with the first quarter of 2024. That figure includes revenues from Satcom Direct Inc., a Melbourne, Florida-based in-flight communications company that Gogo acquired last year. Satcom Direct contributed $129 million in sales during the most-recent period, compared with its revenues as a standalone company of $117.3 million in the first quarter of 2024.

Analysts expected Gogo’s revenues to be about $214 million.

Gogo’s net income for the first quarter of this year was $12 million, down from $30.5 million in the same period last year. The figure for the most-recent period “includes $9.4 million in pre-tax intangible asset amortization expense and $6.5 million in pre-tax expenses related to the Satcom Direct acquisition,” the company reported.

Looking ahead, Gogo is expecting total revenue for the full 2025 fiscal year in the range of $870 million to $910 million.

Tenayo Foods enters Target stores, website

Tenayo Foods LLC, a Boulder-based company that produces salsa and sauces, has launched retail distribution in select Target stores across the country and at Target.com.

Tenayo’s Spicy Al Pastor and Roasted Poblano Barbecue Sauces are featured at Target, coinciding with a new logo and design for the products’ packaging.

The sauces can be used for grilling, slow-cooking, dipping or drizzling, and can be used on eggs, vegetables or meats.

“Our launch at Target enables us to bridge the gap of making restaurant-quality food accessible to a broader audience. Whether you’re a novice in the kitchen or a seasoned chef, everyone can enjoy the gourmet flavors they crave, right at home,” Tenayo officials said in a press release. “We’re thrilled to invite more consumers to try Tenayo and experience the brand’s new visual identity, which is as bold and captivating as our sauces.”

The products retail for $9.99 per bottle.

Ball raising millions for potential cap ex projects, ‘strategic alliances’

Ball Corp. (NYSE: BALL), based in Westminster, launched a public offering of euro-denominated senior notes Monday with the intent to raise about 750 million euros, or roughly $833.4 million.

The aluminum-can giant “intends to use the net proceeds from the offering, together with cash on hand, for general corporate purposes, which may include the refinancing or repayment of debt, potential investments in strategic alliances and acquisitions, working capital, pension contributions or capital expenditures,” Ball wrote in a regulatory disclosure. “Prior to the application of such proceeds, Ball intends to repay outstanding borrowings under its U.S. dollar revolver, without a reduction in commitment, using a portion of the net proceeds from the offering, together with cash on hand. The exact allocation of such proceeds and the timing thereof is at the discretion of Ball’s management.”

BNP Paribas, Deutsche Bank Securities Inc., Crédit Agricole Corporate and Investment Bank and UniCredit Bank GmbH are the global coordinators and joint book-running managers of the offering of the notes, the filing said.

Gaia posts 12% revenue gain in Q1

Gaia Inc. (Nasdaq: GAIA), a Louisville-based provider of streaming video, recorded a 12% increase in revenue in the first quarter.

The conscious-media company reported revenue of $23.8 million, compared with $21.3 million in the first quarter of 2024. Total members increased 3% year-over-year to 867,000.

“As planned, we continued to deliver on positive free cash flow and double-digit growth for the quarter,” Jirka Rysavy, Gaia’s chairman, said in a prepared statement. “Additionally, the pricing adjustments implemented last year are continuing to perform in line with expectations, supporting both revenue growth and long-term member value.”

Gaia posted a net loss of $1 million, or 4 cents per share, versus a net loss of $1 million or 5 cents per share, in Q1 2024.

“We are pleased to see the momentum from 2024 carrying into Q1, with strong revenue growth and improvements in profitability,” Gaia CEO James Colquhoun said in a prepared statement. “With continued investment in AI and our global community platform, we’re laying the foundation for the next evolution of Gaia — one that is more personalized, connected, and expansive.”

Gaia in February closed an underwritten common stock offering, raising $7 million in net proceeds to build out the company’s AI capabilities.

Other Q1 results:

Gross profit increased 15% to $20.9 million from $18.2 million in the prior-year quarter, with gross margin expanding to 87.8%, up from 85.4%.

Operating cash flow was $1.3 million, with free cash flow of $700,000. Cash balance was at $13.1 million as of March 31, 2025, with a fully available $10 million line of credit.

— BizWest reports