Lofts at Lincoln Station in Lone Tree sells for $30.5M
The Lofts at Lincoln Station sold in a $30.5 million transaction.
Boston-based Eaton Vance paid $299,019 per unit for the 102-unit community located at 9375 Station St. in Lone Tree.
Griffis/Blessing Inc. sold the four-story building, constructed in 2015.
“Lofts at Lincoln Station is a high-quality property located adjacent to an RTD lightrail stop in one of Denver’s fastest-growing suburban submarkets,” said David Potarf, executive vice president, CBRE Capital Markets.
Potarf, along with Dan Woodward, Matt Barnett and Jake Young of CBRE Capital Markets, represented the seller.
The community features one- and two-bedroom apartments that average 787 square feet. Units include faux wood flooring, floor-to-ceiling windows, walk-in closets, and kitchens with quartz countertops, designer cabinets and stainless steel appliances.
Community amenities include a clubhouse, fitness center, dog wash station, outdoor kitchen and outdoor wading pool with two spas.
At the time of sale, Lofts at Lincoln Station was 97% occupied.
The Lofts at Lincoln Station also is located at the Lincoln Station light-rail station, 2 miles south of Park Meadows Mall and less than 1 mile north of RidgeGate, which includes the Sky Ridge Medical Center.
“Lone Tree is seeing extensive capital inflows including major office, medical and infrastructure projects, driven by the area’s booming population growth. While more than 6 million sf of Class A office space is planned or under construction in the area, multifamily development is much more limited. Only one market-rate multifamily project is under construction in a 3-mile radius of Lofts at Lincoln Station, which solidifies the property’s strength in the long term,” added Potarf.
Featured in the October 21-November 3, 2020, issue of CREJ