Arapahoe County
Address or Location: 17036 E. Ohio Ave., Aurora, “Arterra Place Apartments”
Improvements: 200-unit apartment community with 191,004 sf, YOC 2014
Land Size: 9.748 acres
Date of Recording: 11/02
Reception No: D7126940
Price: $49.25M, or $246,250 per unit, or $257.85 psf
Grantor: Santa Ana Court Partners LLC, Borregas Partners, Wolfe Road LLC
Grantee: Aurora Multifamily DST, Inland Private Capital Inc., Joseph Binder, SVP
Financing: $27.09M payable to KeyBank, NA
Comments: There are six models as follows: one-bedroom units: 700 sf renting for $1,224 to $1,315; 825 sf renting from $1,250 to $1,350; 916 sf renting from $1,370 to $1,460; two-bedroom/two-bath units: 1,066 sf renting from $1,560 to $1,670; 1,204 sf renting from $1,675 to $1,745; and three-bedroom/two-bath units: 1,306 sf renting from $1,900 to $2,005. The average size unit is 955 sf with lease rates ranging from $1.51 psf to $1.61 psf. This property last sold in March 2016 for $46.1M and both sales were represented by the CBRE multifamily team of Matt Barnett, Dan Woodward & David Potarf.
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.
