CBRE Arranges Sale of 319-Unit Apartment Property in Aurora, Colo., to Seattle-Based Investment Firm
04 Jan 2022
CBRE announced the sale of Highland Point Apartments, a 319-unit multifamily property in Aurora, Colo., to Thayer Manca, a Seattle-based real estate investment firm.
CBRE’s Justin Hunt, Andy Hellman, Kevin McKenna, Saul Levy, Katie Fergen and Jessica Graham represented the seller, Hudson Capital, in the transaction.
The property, located at 16894 E. Arkansas Avenue, is one of 12 deals Hudson Capital sold nationwide in 2021. The 1984-built complex, which includes amenities such as an outdoor swimming pool and fitness center, features garden-style units spread across a 13.64-acre lot.
Highland Point is centrally located south of Mississippi between E-470 and I-225, providing easy access to much of the metro area. The property also sits within an employment center, with access to more than 340,000 jobs including Buckley Airforce Base, Denver International Airport, Aurora Town Center, and the Aurora Municipal Center.
“This complex sold in a shortened marketing process as a year-end close was a priority,” said Mr. Hellman. “The bidding process was extremely competitive with 14 total offers, which also drove the pricing on this transaction.”
Added Mr. Hunt, “Interest cut across a number of entities, including local and national investors, private equity and public REITs. Demand for strategically located apartment properties in our region remains strong and has only increased as investors clamor for additional assets.”
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2021 revenue). The company has more than 105,000 employees (excluding Turner & Townsend employees) serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.