Broomfield County
Address: 1030-1049 E. 10th Ave., Broomfield
Improvements: 209-unit, three-story apartment complex, YOC 1973 (five buildings); and 213-unit, three-story walk-up apartment complex, 1974, 21 buildings, total 422 units
Date of Recording: 12/4
Reception No.: 2017014873 & 2017014878 (2 deeds combined)
Price: $63.7M, or $147,000 per door
Grantor: FPA5 Birch LLC c/o Trinity Property Consultants LLC, Michael B. Earl, VP
Grantee: Aragon2017/Ten30 LLC/Ten49 LLC, Dan Guy, pres. of Aragon Fund VII LLC, c/o Aragon Holdings
Financing: Assume $3.31M dated 2/16/17; assume $21.7M note dated 10-29-2015 payable to Trustee for JPMorgan Chase
Comments: The listing brokers were CBRE Denver multifamily team of Matt Barnett, David Potarf & Dan Woodward. These two buildings sold for $49.6M in February 2015. The value increase indicated a 28.43% gain since the last sale, or a growth of 9.21% per annum. Aragon Holdings currently owns 2,500 units in the Denver metro area, including: 384-unit Santana Ridge Apartments in Denver, 464-unit Skyline Apartments in Thornton, 482-unit Waterfield Court in Denver, 108-unit & 264-unit apartment buildings in Arvada & 376-unit Hampden Heights Apartments in Denver, plus the 422 units purchased in Broomfield.
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.
