Denver County
Property Location: 7571 E. Technology Way, “The Pearl Apartments at DTC”
Property Description: 408-unit, three-story apartment complex with 17 buildings plus 6,411-sf clubhouse, 281,112 sf net rentable area, YOC 2014, brick/stucco construction
Land Size: 16.526 acres
Density: 24.7 d/u per acre
Sales Price: $121.75M, or $297,677 per unit, or $433.10 psf
Reception No.: 2018060565
Closing Date: 5/21
Grantor: CP IV DTC Crossroads LLC, c/o Carmel Partners Inc.
Grantee: 7571 Technology Way Owner LLC, c/o Goldman Sachs Asset Management LP, 200 West St., Third Floor, NYC, NY 10282
Financing: Cash
Comments: There are 676 parking spaces, including 380 surface & 274 garage spaces. Additionally, there are 10 accessible surface spaces and nine accessible garage spaces plus three van-accessible spaces. The units are broken up as follows: (40) Argyle models – 1/1, 604 sf, rent for $1,405/mo.; (94) Batik models – 1/1 @ 838 sf, rent for $1,475; (5) Batik Loft – 1/1, 1,110 sf @ $1,950/mo.; (104) Madras models – 1/1 @ 998 sf, rent for $1,505/mo.; (8) Madras Loft – 1/1, 1,156 sf, rent for $2,095/mo.; (92) Botanical – 2/2, 1,166 sf, rent for $1,830/mo.; (3) Botanical Loft – 2/2, 1,695 sf; (51) Herringbone – 2-2, 1,070 sf, rent for $1,845/mo.; (9) Croquis – 3/2, 1,428 sf, rent for $2,840/mo. The property was 92% occupied at time of closing. The listing broker was Moran & Co.
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.
