Property Location: 18588 E. Mainstreet, Parker, “Watermark on MainStreet”
Property Description: 306-unit apartment complex with nine buildings totaling 328,243 sf, plus 6,235-sf clubhouse/leasing office, YOC 2014, frame construction
Land Size: 15.13 acres
Sales Price: $77M, or $251,634 sf, or $234.58 per sf
Reception No: 2016033774
Closing Date: 5/31
Grantor: Vanterra Watermark LLC, Thomas P. Murphy & Paul M. Thrift, mgrs., www.watermarkapartments.com or 317-454-8029.
Grantee: Braddock & Logan Venture Group LP, 925-736-4000
Comments: The units comprise the following models: 680-sf one-bedroom apartment rents for $1.70 per sf; 759-sf one-bed/one-bath @ $1.58 per sf; 838 sf one-bed/one-bath @ $1.62mo.; 842-sf one-bed/one-bath @ $1.66 per sf; 1,025-sf two-bed/two-bath unit rents for $1.56 per sf; 1,105-sf two-bed/two-bath @ $1.50 per sf; 1,126-sf two-bed/two-bath @ $1.47 per sf; 1,188-sf two-bed/two-bath @ $1.43 per sf; 1,302-sf three-bed/two-bath rents for $1.54 per sf; 1,279-sf three-bed/two-bath @ $1.56 per sf. There are two three-bed models, four two-bed/two-bath models & four one-bed/one-bath models. Mike Margason is VP of dispositions and Brian Southworth is VP of acquisitions for the seller.
Comp of the Day is provided by by John V. Winslow, president of WinComps LLC. Winslow has more than 40 years’ experience in commercial real estate. He can be reached at 720-612-7878 or Colprop2012@gmail.com.