Park Place Olde Town welcomes new year with $46.6 million sale

1041
1041
Share this Article
Facebook Twitter LinkedIn Google Pinterest StumbleUpon Email

Jefferson County

Address: 5743 Teller St., Aurora, “Park Place Olde Town”

Improvements: 153-unit, five story apartment w/132,129 sf, YOC 2016

Land Size: 2.97 acres

Density: 51.52 units per acre

Date of Recording: 1/4

Reception No.: 2017169188

Price: $46.58M, or $304,444 per door, or $352.53 psf

Grantor: Park Place Olde Town Apartments LLC, Mark Goldberg & Donald Berland (303-721-1981), mgrs.

Grantee: Seagate Properties, c/o Trent Isgrig, mgr., 303-825-0660

Financing: $30.344M payable to CBRE Capital Markets, due 2-1-2028

Comments: Mark B. Polite is one of the principals of Seagate Properties and is in San Rafael, CA, 415-455-0300. According to WinComps Research Team, the property contains 96 one-bedrooms with an average size of 709 sf that rent for $1,343 per month, and 57 two-bedroom units with an average size of 1,113 sf, renting for an average of $2,070 per month. The weighted average of the entire 153 units is 864 sf, with a lease rate of $1,614 per month, or $1.88 psf. This transaction was handled by the CBRE Denver multifamily team including Matt Barnett, David Potarf, Dan Woodward & Jake Young.

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 [email protected]

In this article