CBRE Brokers $90.72 Million Sale of 288-Unit Multifamily Property in Broomfield
30 Apr 2020
CBRE announced the $90.72 million sale of Caliber at Flatirons, a 288-unit multifamily property located at 13872 Del Corso Way in Broomfield, Colo. Dan Woodward, David Potarf and Matt Barnett with CBRE’s Denver office represented the seller,The Garrett Companies of Greenwood, Ind. Oakmont Properties, represented by Marc Ross and CBRE’s Sacramento multifamily team, purchased the property in a sale that closed April 28. Andrew Behrens with CBRE Capital Markets, Debt & Structured Finance, arranged the financing.
“Executing a presale in the current environment is challenging, but with proactive cooperation between seller, buyer and the CBRE team, we were able to get the property leased, inspected and financed on time,” stated Dan Woodward, Executive Vice President, CBRE. “The property was 80-percent leased at the time of sale and is ideally located to benefit from future growth in the Boulder and Broomfield submarkets.”
Completed in 2019, Caliber at Flatirons offers a mix of one-, two-, and three-bedroom unitswith 308,478 rentable sq. ft. on over 16 acres. With lux resort-style amenities, the property includes a pool, grilling locations, an outdoor fireplace with seating areas, a fitness center and yoga studio.
“Oakmont was uniquely positioned to take down this asset due to their exceptional relationship with Fannie Mae, which allowed them to achieve below market debt terms in this time of national crisis,” said Andrew Behrens, Vice Chairmanwith CBRE’s Debt and Structured Finance practice.
Caliber at Flatirons is located just off U.S. 36 at the Northwest Parkway exit by the Flatirons Crossing shopping center. It is adjacent to Broomfield’s Del Corso Park with recreation trails that plug into Broomfield’s existing trail system.
“This property is a perfect complement to Oakmont’s Denver area portfolio and their strategy of acquiring best-of-class assets along the northwest corridor,” added Marc Ross, Executive Vice President, CBRE.
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.