Denver County
Property Location: 425 S. Galena Way, Denver, “Stratford at Lowry Apts.”
Property Description: 142-unit, two- & three-story apartment w/eight buildings, 116,864 sf, YOC 1979, masonry and frame construction
Land Size: 5.49 acres
Sales Price: $20.75M, or $146,127 per door, or $177.56 psf
Reception No.: 2016136280
Closing Date: 9/30
Grantor: JSP Lowry LLC by: Jackson Square Apartments, Kyle Bach, CEO
Grantee: VCM Stratford at Lowry LP by: Vukota Capital Management, Tom Vukota, mgr., 303-743-4037
Financing: $16.6M payable to CBRE Capital Markets Inc., due 10-1-26
Comments: The property was listed and sold by ARA Newmark, Jeff Hawks, Terrance Hunt, Doug Andrews, Shane Ozment, Anna Stevens and Amanda Meldrum. There are 64 one-bedroom units @ 690 sf that rent for $1.41 per sf; 24 two-bedroom, one-bath units @ 900 sf that rent for $1.30 per sf; 48 two-bedroom, two-baths @ 1,000 sf that rent for $1.37 per sf; and eight studios @ 532 sf renting for $1.61 per sf. Seventy-three units have been renovated, which reflects per-sf rent increases of 9 to 21 cents, depending on the size. There are 20 carports and 282 open spaces for a total of 302 parking spaces, or 2.13 spaces per unit.
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.
