Arapahoe County
Property Location: 7338 S. Havana St., Centennial, “Elevate Apartments”
Property Description: 285-unit apartment complex with 10 buildings, 235,008 sf net rentable area, YOC 2018, masonry/frameconstruction
Land Size: 8.04 acres
Sales Price: $74.5M, or $261,404 per door
Density: 35.45 d/u per acre
Reception No.: D9002772
Closing Date: 1/9
Grantor: 7338 Havana Development Company (JH. Curtis Keller), The Wolff Co.
Grantee: TM Metro Six55 LLC, c/o Jackson Square Properties LLC (Chad Bungcayao, mgr.), 415-354-9900
Financing: $75M payable to KeyBank, NA, due in one-year
Comments: 42 one-bedroom/one-bath units @ 617 sf, average rents at $1,325, or $2.15 psf; 97 one-bedroom units @ 713 sf, rent for $1,543, or $2.16 psf; 44 one-bedroom/one-bath units @ 773 sf rent for $1,491, or $1.93 psf;60 two-bedroom/two-bath units @ 963 sf rent for $1,911, or $1.98 psf; 21 two-bedroom/two-bath units @ 1,089 sf rent for $1,887, or $1.73 psf; six two-bedroom/two-bath units @ 1,117 sf rent for $2,375, or $2.12 psf; 15 three-bedroom/two-bath units @ 1,238 sf rent for $2,352, or $1.90 psf. There are 216 surface parking spaces, including nine handicapped spaces, 35 direct garages, 106 detached garages and 58 carports, totaling 421 parking spaces. The sale was handled by Jordan Robbins, Anna Stevens & Jeff Haag of HFF.
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.
