Property Location: 8849- 8929 Pearl St., Thornton, “Skyline Apartments”
Property Description: 464-unit, three-story apartment complex with 22 buildings, 330,288 sf, YOC 1984, brick/frame construction
Land Size: 17.44 acres
Sales Price: $69.5M, or $149,785 per unit, or $210.42 per sf
Reception No: 2016000042511
Closing Date: 5/27
Grantor: Holland Brittany Downs Apartment Homes, c/o Holland Partners Group, Clyde Holland, ptnr., 360-694-7888
Grantee: Aragon 2016 Skyline, Dan Guy, pres., 310-550-5750
Financing: $53.63M payable to NorthMarq Capital LLC
Comments: APN: 01719-22-4-08-001, 01719-22-4-08-002, www.aragonusa.com, 504-sf one-bed/one-bath rents for $990 & up; 655-sf one-bed/one-bath rents for $1,110 & up; 866-sf two-bed/two-bath rents for $1,190/month; 908-sf two-bed/two-bath rent for $1,210-1,555 per month. Leasing office contact is 720-208-9296. Local contacts for seller are Erik Hagevik and Christie Schewe, 720-452-3201.
Property Location: 18588 E. Mainstreet, Parker “Watermark on MainStreet”
Property Description: 306 units 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 ba @ $1.62mo; 842 sf one bed/one ba @ $1.66 per sf; 1,025 sf two bed/2 ba unit rents for $1.56 per sf; 1,105 sf two bed/two ba @ $1.50 per sf; 1,126 sf two bed/two ba @ $1.47 per sf; 1,188 sf two bed/two ba @ $1.43 per sf; 1,302 sf three bed/2 ba rents for $1.54 per sf; 1,279 sf three bed/two ba @ $1.56 per sf. There are two three bed models, four two bed/two ba models & four one bed/one ba 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.