Arapahoe County
Address or Location: 10001 E. Dry Creek Road, Englewood, “The Rail @ Inverness”
Land Size: 7.629 acres
Improvements: 219-unit, five-story apartment, YOC 2007, 179,537 sf “rentable area,”,brick & frame construction
Density: 28.7 units per acre
Date of Recording: 12/5
Reception No.: D7138224
Price: $52M, or $237,443 per door, or $289.63 psf
Grantor: Holland 191 III, Ballantyne LLC
Grantee: JSP Rail Owner, Jackson Square Properties, San Francisco, CA 94111
Financing: $33.4M payable to CBRE Multifamily Capital
Comments: There are 132 one-bedroom units; 12 two-bedroom, one-bath units; & 75 two-bedroom, two-bath units. There are 62 single-entry garage units, 54 tandem spaces, 258 open spaces and 11 handicap parking spaces. The total units average 820 sf, with an average of $1.76 per square foot. The listing brokers were David Martin and Pam Koster of Moran and Co. This was a reverse exchange. Chad Bungcayao is VP, acquisitions, 415-354-9900. This property last sold for $40.4M in March 2015, reflecting an increase in value of 28.71%.
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.
