BROOMFIELD, CO-In the largest single-asset multifamily sale in Colorado thus far in 2010, according to brokers from Moran & Co., Chicago-based AMLI Residential has purchased a class-A apartment community here from Dallas, TX-based Trammell Crow Residential. The purchase price of the Alexan Arista 358-unit property was $55.55 million.
Moran & Co. was the exclusive listing agent with partners, David Martin and Pamela Koster of the firm’s Mountain States office representing the seller. According to managing partner Martin, the Alexan Arista property “has tremendous upside due to its strategic location in what is rapidly becoming the ‘alternative energy corridor’ with construction of ConocoPhillips planned R & D facility now underway.”
The property is located within the Northwest Corridor of Metro Denver which runs along US 36, also known as the Boulder Turnpike. Alexan Arista is located between Downtown Denver and Boulder and is only a 20-minute drive to both cities, according to a prepared statement. The property is minutes away from Interlocken Advanced Technology Park—which is home to many companies including, Oracle, Level 3 Communications, Ball Corp. and IBM.
Alexan Arista is located in the new 200-acre Arista master planned development built around the 1STBANK Center, which is a 6,000-seat entertainment venue, and the Regional Transportation District’s model transit station. Arista Place, the town center of the development, offers a three block, open-air mall lined with class A office, street level boutique-style retail and restaurants.
Alexan Arista is located at 8200 Arista Place. The community has 11 rental buildings configured into nine building types, which house between 22 and 48 units. The buildings are three and three-and-a-half stories. There are 14 floor plans with a mix of one, two, and three bedroom units ranging from 771 square feet to 1,285 square feet. Three of the floor plans are two-story loft units which comprise of 47 of the 358 total units. Interior amenities include full granite kitchen countertops, nine-foot and 20-foot ceilings (two story units), washer-dryer hook ups, private patio or balcony, walk-in closets, and crown molding. Select units offer gas fireplaces, kitchen islands and mountain views. Community amenities include a contemporary clubhouse with kitchen, billiards, and a guest suite available for visitors.
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