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 Colprop2012@gmail.com.