Adams County
(First Transaction)
Property Location: SWC E. 64thAvenue & Picadilly Road, Aurora
Property Description: Vacant land
Land Size: 500 acres
Sales Price: $30M, or $60,000 per acre
Reception No: 64184 2018
Closing Date: 8/7
Grantor: 64thHoldings LLC (Rodrick Weimer, mgr.)
Grantee: Painted Prairie Owner LLC, c/o PCCP LLC, c/o Pacific Coast Capital Partners, James Nearon, SVP 415-732-7645
Comments: Located next to the Gaylord Rockies hotel, potential regional mall
(Second Transaction)
Property Location: W/S Picadilly Road, between W. 64th & W. 56th avenues, Aurora
Property Description: Vacant land
Land Size: 128.152 acres, or 598 lots & 63 separate tracts
Sales Price: $15M, or $2.69 psf, or $25,054 per buildable lot
Reception No: 64184 2018
Closing Date: 8/7
Grantor: RRC Development Inc. (Christopher H. Fellows, pres.), 303-795-9900
Grantee: Painted Prairie Owner LLC, c/o PCCP LLC, James Nearon, 415-732-7645
Comments: Located next to the Gaylord hotel. The buyer acquired 596 lots and resold to the following:
1) Weekley Homes purchased 56 lots for $4.84M, or $86,400/lot.
2) Meritage Homes of Colorado paid $4.87M for 81 lots, or $60,148/lot.
3) McStain Homes) paid $6,160,000 for 69 lots or $89,275/lot.
4) Epic Homes paid $7.2M for 100 lots, or $72,000/lot
5) KB Home Colorado paid $24.86M for 292 lots, or $85,151/lot. PCCP purchased the 598 lots for $15 million and resold to five homebuilders for $47.93M.
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.
