Property Location: 10400 Park Meadows Drive, Lone Tree
Property Description: 230-unit, four-story apartment building including: 11 studio units @ 559 sf; 134 one-bedroom units @ 740 sf, average; 85 two-bedroom units averaging 1,105 sf, totaling 199,232 sf rentable area, YOC 2008
Land Size: 6.48 acres
Sales Price: $62M, or $469.12 psf
Reception No.: 2018050946
Closing Date: 8/17
Grantor: Lincoln Station Investment Partners LP by: Holland Partner Group Management Inc. (Clyde P. Holland Jr., CEO)
Grantee: Hancock REIT Aspect LLC by: John Hancock Life Insurance Co. (Reid Rovelli & Matthew Warner, mgrs.)
Financing: $34.1M payable to Prudential Affordable Mortgage Co., due 9/1/28
Comments: See APN: 2231-104-01-010. This property was listed by David Martin & Pamela Koster of JLL. The average size unit of 866 square feet reflected a lease rate range from $1,684 ($1.94 psf) to $1,713 ($1.98 psf). The one-bedroom units ranged from $1,638 to $1,660 per month, while the two-bedroom units ranged from $1,817 to $1,835 per month.
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.