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Houston apartment developer pays $8.6 million for site at I-25 & South Broadway

Denver County

Property Location: NEC S. Broadway & E. Arizona Ave.; NWC S. Lincoln St. & E. Arizona Ave.; 1190 S. Broadway, Denver

Property Description: Vacant land, zoned R-MU-30

Land Size: 86,943 sf

Sales Price: $8.6M, or $98.03 sf

Reception No.: 201709131

Grantor: Platt Park North LLC, Lance Gutsch, mgr.

Grantee: South Broadway Station Apartments LLC c/o The Hanover Company, attn: Ryan Hamilton, rhamilton@hanoverco.com, 5847 San Felipe, Suite 3600, Houston, TX 77057

Closing Date: 2/13

Comments: The buyer plans to build 225 one-bedroom units, 68 two-bedroom units, five three-bedroom units and five live/work units, for a total of 303 apartment dwellings. See APN: 05221-08-030, 05221-08-031 and 05221-08-032. (Valium Online)

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.