Lafayette apartments sold to Buchanan Street Partners for $60.25 million

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Boulder County

Property Location: 695 South Lafayette Dr., Lafayette

Property Description: 240-unit apartment complex, 214,560 sf, YOC 2014

Land Size: 10.483 acres

Sales Price: $60.25M, or $251,042 per unit

Density: 22.89 units per acre

Reception No.: 03639624

Closing Date: 2/1

Grantor: Imago Lafayette LLC, Lester M. Kaplan, mgr., & Milestone Group – Habitat LLC, Kenneth M. Kiken, mgr., 303-298-7270

Grantee: BSP Luna Bella Colorado LLC c/o Buchanan Street Partners, Timothy Ballard, pres., 949-721-1414

Comments: There are 60 units each of two one-bedroom floor plans (720 sf & 790 sf) ranging from $1.93 to $1.96 psf. Additionally, there are 60 units each of the two-bedroom plans of 985 sf & 1,076 sf with a range of $1.67 to $1.68 psf. The rental rate averages $1.79 psf, or $1,598 per month. The average unit size is 894 sf. The ARA Multifamily team handled the transaction.

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 [email protected]

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