Upscale Cherry Hill apartments fetch over $78 million

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Arapahoe County

Property Location: 3650 S. Broadway, Englewood, “Cherry Hills Apts.”

Property Description: 306-unit, four-story apartment with 372,084 sf, YOC 2014

Land Size: 4.56 acres

Sales Price: $78.3M, or $255,882 per unit, or $210.44 psf

Reception No.: D7045941

Grantor: Cherry Hills Apartments LLC, James L. Street, VP

Grantee: Bell Fund IV Cherry Hills LLC, John E. Tomlinson, CFO

Closing Date: 4/20

Financing: $51.84M payable to New York Life Insurance

Comments: See APN: 2077-03-1-26-001 & 2077-03-1-27-001. The property sold in September 2013 for $6.79M, or $34.18 per square foot, or $22,186 per buildable unit. See file plat 3011398. Property is on the southeast corner of U.S. Highway 285 (Hampden Ave.) and South Broadway. Lot 1, Block 1 contains 132,430 sf and Lot 1, Block 2 contains 66,374. There are two separate buildings. Property listed and sold by ARA Newmark, Jeff Hawks, Doug Andrews, Terrance Hunt & Shane Ozment, 303-260-4400.

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.

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