CBRE Brokers $90 Million Sale of Newly Built Fusion 355 Multifamily Complex in Interlocken
20 May 2020
CBRE announced the $90 million sale of Fusion 355, a 286-unit multifamily property located at 355 Eldorado Boulevard in Broomfield, Colo. Dan Woodward, David Potarf and Matt Barnett with CBRE Capital Markets in Denver represented the seller, AG Spanos from Stockton, Calif. Marc Ross with CBRE’s Sacramento office represented the buyer, Oakmont Properties from California, who purchased the property in a sale that closed May 13.
“The sale of Fusion 355 is an example of the continued trend of investment capital migrating to Denver from coastal markets in search of slightly higher yields and a stable political and tax environment,” said Dan Woodward, Executive Vice President, CBRE. “The buyer was familiar with the high-quality of AG Spanos’ developments in other markets. The sale was truly a win-win for buyer and seller.”
Built in 2019, Fusion 355 consists of a mix of upscale apartments and townhome style units with in-unit washer and dryer, ceiling fans, storage units, vaulted ceilings, and hardwood flooring. The property, which totals 256,376 rentable sq. ft., is a controlled access, smoke-free community with a 24-hour fitness center, yoga studio, dog park, media and game rooms, elevator access, bike storage, heated pool with spa and Baja deck, community garden, 400 parking spaces, and private garages.
“Fusion 355 allowed Oakmont Properties the opportunity to grow their existing footprint in the Denver market while also providing an advantageous micro location within the high-tech Interlocken Business Park featuring some of Colorado’s largest and most prestigious employers,”stated Marc Ross, Executive Vice President, CBRE.
The property is located in northwest metro Denver at the intersection of Interlocken and Eldorado boulevards in Broomfield’s Interlocken neighborhood.
Fusion 355 was 85% leased at the time of sale.
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.