Minnesota firm acquires 5.23 acres for 209 proposed apartment units

Arapahoe County

Property Location: Northwest corner of S. Parker Road & East Fair Ave., Centennial

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Property Description: Vacant replatted land, plan to build 209 apartment units

Land Size: 5.2291 acres

Sales Price: $2M, or $8.78 psf, or $9,569 per buildable unit

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Reception No.: D8062751

Closing Date: 6/26

Grantor: Fellowship Community Church (Douglas Swanberg), 303-699-1110

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Grantee: Centennial Leased Housing Associates I LLLP, 2905 Northwest Blvd., Suite 150, Plymouth, MN 55441, attn: Mark S. Moorhouse & Ronald G. Mehl

Financing: $1.4M payable to Bridgewater Bank, in Bloomington, MN

Comments: Lot 1, Block 1, Fellowship Community Church Subdivision, Filing No. 2, see file plat, D8061788. The buyer plans to build 89 one-bedroom units and 120 two-bedroom units.

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.