High-end Crescent Apartments site closes at $18,438 per buildable unit

Adams County

Property Location: NEC W. 116^th Ave & Pecos St, Westminster

Property Description: Vacant land, proposed 320-unit Crescent Apts.

Land Size: 17.586 acres

Sales Price: $5.9M, or $7.70 psf, or $18,438 per buildable unit

Reception No.: 20160000102279

Closing Date: 11/22

Grantor: IBC Denver VIII LW IV LLC, Brian C. Mott, mgr.

Grantee: Park 12Hundred Venture LLC, Holland Partner Group Management Inc., Clyde P. Holland Jr., CEO, & Principal Real Estate Investors, Kevin Anderegg

Comments: Local contact in Denver for Holland Partner Group is Reed Ruck, 720-250-0542, and Kevin Anderegg of Principal Real Estate Investors LLC. Listing broker was Newmark Grubb Knight Frank, David Lee & Jason Addlesperger.

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.