Boulder County
Property Location: 3100 Pearl St., Boulder, “Solana Apartments”
Property Description: 319-unit, four-story apartment complex, 273,131 sf, YOC 2014, brick/stucco/panel siding, 341 garage parking spaces, including 41 oversized spaces
Land Size: 4.19 acres
Sales Price: $136M, or $426,332 per unit, or $497.93 psf
Reception No.: 03553882
Closing Date: 10/28
Grantor: Pearl Street Apartment Investors LLC c/o UBS Realty Investors LLC, William P. Robertson, executive director, & Steven T. Miele, director, 860-616-9000
Grantee: 3100 Pearl Owner LLC c/o Rockwood Capital LLC, 140 E. 45th St, 34th Floor, New York City, NY 10017, attn: *David Streicher, partner, 212-402-8500
Financing: $61.65M payable to Northwestern Mutual Life, due 11-10-23
Comments: Listed and sold by ARA team including Doug Andrews, Jeff Hawks, Terrance Hunt, Shane Ozment, Chris Cowan, Anna Stevens & Amanda Meldrum. There are 36 studios from 573 sf to 670 sf; seven floor plans of one-bedroom, one-bath units totaling 158 units, ranging from 670 sf to 932 sf; two floorplans of two-bedroom/one-bath units ranging from 969 sf to 980 sf, totaling 30 units; five floorplans of two-bedroom/two-bath units ranging from 1,072 sf to 1,184 sf, totaling 95 units. The average size unit is 856 sf with an average rental range of $2,074 per month, or $2.42 per sf. The property is located on the southeast and southwest corner of Junction Place & Pearl Parkway. Out-lot A includes 7,977 sf and is drainage and open space. *Signatory on the Deed of Trust. Buyer’s website is www.rockwoodcap.com.
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.
