Property Location: 6857 S. Homestead Pkwy., Centennial, “Villas at Homestead”
Property Description: 312-unit, 13-bldg. apt. complex, w/305,940 sf, YOC 1993
Land Size: 12.78 acres plus 1.49 acres of floodplain land
Sales Price: $68.5M, or $219,551 per unit, or $210.44 psf
Reception No.: D7047094
Grantor: KW Fund V Villas at Homestead LLC, Kennedy Wilson Real Estate Fund V., Phillip Winter, VP, Beverly Hills, CA
Grantee: JSP Villas Homestead I LLC et al., c/o Jackson Square Properties, Chad Bungcayao, Thomas J. Coates & Curtis S. Gardner, mgrs., 415-354-9900
Closing Date: 4/26
Financing: assumption of $31.7M balance @ 4.31% payable to CBRE Inc.
Comments: See APN: 2075-29-2-36-001. The property last sold in October 2014 for $56.75M, or $181,891 per unit. Property listed and sold by ARA Newmark, Jeff Hawks, Doug Andrews, Terrance Hunt & Shane Ozment, 303-260-4400. The average size unit is 981 square feet. The deed shows a consideration of $65.35M, or $209,407 per unit; however, closing statements on the listing broker’s website indicate the price was $68.5 million. The buyer’s website is www.jacksonsquareproperties.com with Chad Bungcayao named as vice president, acquisitions and disposition.
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.