Land adjoining Gaylord Rockies hotel snagged for $45 million

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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

Prestige Auction Banner October 2018 300 x 250

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.

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