Adams County
Property Location: 11900 Newton St., Westminster, “Bell Bradburn Apts.”
Property Description: 310-unit, three-story apartments, 389,578 sf rentable area, YOC 2002, frame construction. The unit mix is 84 one-bedroom units, 210 two-bedroom units and 16 three-bedroom units
Land Size: 11.176 acres
Density: 27.74 units per acre
Sales Price: $90.48M, or $291,854 per unit or
Reception No.: 2018000092685
Closing Date: 11/15
Grantor: Bradburn Apartments LLC (Frank S. Throop, SVP, c/o Baring LLC, Hartford CT 06103-2604)
Grantee: Bell Fund VI Westminster LLC, Nickolay Bochilo, EVP (San Francisco office), 336-232-1909 or nbochilo@bellpartnersinc.com
Financing: Cash
Comments: Bell Partners of Greensboro NC now owns five apartment complexes in Colorado totaling 1,770 units.Unit mix is: 84 1/1 @ 720 sf (average) and rents are $1,485, or $2.06 psf. There are four models of the two-bedrooms totaling 210 units with 2.5 bath units and an average of 1,441 sf, with average rents @ $2,012 or $1.40 psf. There are 16 three-bedroom/2.5-baths @ 1,657 sf with rents @ $2,469 & up. This building is especially noted for its large apartments, with the average unit size @ 1,257 sf. The leasing office phone number is 303-439-8800. See APN: 1719-06-1-02-002, (11900 Newton St.), 1719-06-1-04-001 (11870 Quitman St.) & 1719-06-1-03-001 (vacant site). Occupancy was 97% at time of closing.
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.
