Broomfield County
Property Location: 13620 Via Varra Road, Broomfield, “Terracina Apartments”
Property Description: 386-unit, four-building, four-story apartment buildings w/361,109 sf, YOC 2009, brick/frame construction
Land Size: 12.10 acres (plus 3.83 acres for future development)
Sales Price: $106M, or $274,611 per unit, or $274.12 psf
Density: 31.90 units per acre
Reception No.: 2018012172
Closing Date: 10/19
Grantor: Terracina Villa LLC (Griffis Terracina LLC, Ian C. Griffis, mgr.)
Grantee: Via Varra Broomfield LLC, c/o The Connor Group, Larry Connor, CEO, 937-434-3095
Comments: This property was listed by Newmark Knight Frank, Terrance Hunt, Shane Ozment & Chris Cowan. There are 208 one-bedroom unit ranging from 644 to 814 sf (average of 740 sf, with average rent of $1,530 per month, or $2.07 psf; eight one-bedroom/1.5 bath units @ 959 sf average and $1,885 per month/$1.97 psf; 170 two-bedroom/two-bath units ranging from 1,089 to 1,310 sf, (average of 1,174 sf with rental rate of $1.934/mo., or $1.65 psf). The 386 units have an average size of 936 sf with rental rates around $1,715 per month, or $1.83 psf. The additional land is estimated to have a density of approximately 100 units. There are 620 garage spaces and 154 open spaces, for a total of 774 parking spaces.
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.
