Jefferson County
Property Location: 14125 Denver West Circle, “The Lodge at Denver West” Property Description: 252-unit apt. complex, stucco construction (six buildings with elevator in each building), 234,048 sf net rentable area, YOC 2015
Land Size: 12.80 acres
Sales Price: $76.75M, or $304,563 per unit, or $327.92 per sf
Reception No: 2017091894
Closing Date: 9/1
Grantor: Lodge DW Associates LLC, Walter B. Eeds, pres. of Greystone Group Inc.
Grantee: Avalon Denver West LLC, 2050 Main St., Suite 1200, Irvine, CA 92614
Comments: The property was listed and sold by Shane Ozment, Jeff Hawks, Doug Andrews, Terrance Hunt, Amanda Meldrum and Jessica Graham, 303-260-4479, of ARA Newmark. The average size unit is 929 square feet with average rent of $1,762 per month, or $1.90 per square foot. There are 84 attached garages, 70 detached garages, 48 semi-attached garages and 247 open parking spaces for a total of 449 spaces. The building contains 24 studios @ 679 sf, 120 one-bedroom units averaging 807 sf; two-bedroom/two-baths average 1,120 sf. The buyer is Avalon Communities, based in Irvine, CA, with Timothy J. Naughton as CEO.
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.
