Arapahoe County
Address or Location: 2205 S. Racine St. & 12775 E. Pacific Drive, Aurora
Improvements: 232-unit, three-story apartment, 1985, & 248-unit apartment complex, YOC 1985-1986 (total 480 units, 449,562 sf rentable area)
Land Size: 19.467 acres
Date of Recording: 6/21
Reception No. : D7069982
Price: $95M, or $197,917 per unit, or $211.32 psf
Grantor: CH Conifer Creek Communities LLC c/o Col Rich, Danny Gabriel, mgr, 858-490-2300
Grantee: Denver MSA Multifamily II DST (Inland Real Estate Group Inc., Oak Brook, IL 60523), Joseph E. Binder, SVP
Financing: $52.49M payable to KeyBank, NA, due 7-1-2024
Comments: Seller’s phone number is 858-490-2300. The APN numbers in Arapahoe County are: 1973-25-2-19-001 & 1973-25-2-21-001. Last sale date was July 24, 2013, for $54.5M. The growth from that time period was 74.31%, or 14.9% per annum. The listing broker was Pamela Koster & David Martin of Moran & Company. There are 520 attached parking spaces and 420 open spaces. The average size unit is 937 square feet. There are 140 one-bedroom units and 340 two-bedroom, two-bath units. Only 37% of the units have been renovated as this is a “value-add” transaction.
Property Location: 7610 E. Caley Ave, Centennial “Greenwood Plaza”
Property Description: 266-unit, two- and three-story apartment complex with 14 buildings containing 254,372 sf, YOC 1993
Land Size: 11.703 acres
Sales Price: $66M, or $245,489 per unit, or $259.46 psf
Reception No: D7069585
Closing Date: 6/20
Grantor: SCG Atlas Greenwood Plaza: c/o Starwood Capital Group Global LP, 100 Pine St, Suite 3000, San Francisco, CA 94111, attn: Mark Deason, SVP, acquisitions, 415-247-1220
Grantee: WRPV XII Greenwood Plaza LLC c/o Waterton Acquisitions LLC, Chicago, IL 60606
Financing: $46.48M payable to Berkeley Point Capital, due 7-1-2024
Comments: The APN is: 2075-21-3-33-001
Comp of the Day is provided by John V. Winslow, president of Winslow Property Consultants. Winslow has more than 40 years’ experience in commercial real estate. He can be reached at 720-612-7878 or Colprop2012@gmail.com.
