Sentinel Real Estate Corp. acquires 285 units in Parker for $70.9 million

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Douglas County

Property Location: 17565 Pine Lane, Parker, “Enclave at Cherry Creek”

Property Description: 285-unit, four-story apartment complex (five buildings of 57 units each), 368,465 sf gross building area, plus 6,706-sf clubhouse, with attached garage parking with each building, YOC 2015

Land Size:

Sales Price: $70.93M, or $248,870 per unit, or $192.50 psf

Reception No.: 2017033207

Grantor: Spanos Corp., Steven L. Cohen, EVP

Grantee: Cherry Creek Corp. c/o Sentinel Real Estate Corp, NYC, NY 10020

Closing Date: 5/17

Financing: Cash

Comments: Lot 1, Enclave Property Minor Development; see 2014065020, Douglas County. There are 150 one-bedroom units, 120 two-bedroom units and 15 three-bedroom, two-bath units renting from $2.50 per square foot for the studios, $2.14 per sf for the one-bedroom units, $1.62 per sf for the two-bedroom units and from $1.53 per sf for the three-bedroom units. Parking area consists of 25,570 sf with a total of 567 parking spaces.

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.

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