THORNTON, CO-Holland Residential has acquired Brittany Downs, a 464-unit apartment complex here for $33.6 million, according to the listing brokerage firm, Marcus & Millichap. The apartment investor from Vancouver, WA, acquired the asset from Brittany Apartments LLC and Brittany Phase II Apartments LLC, both of which are entities of a Sterling Equities JV with Texas-based Falkin Platnick Realty, according to an industry source.

Located off East 88th Avenue just east of Interstate 25, Brittany Downs is a 325,376-sf (net rentable) development consisting of 22-two- and three-story buildings on 18 acres that provide for views of the Rocky Mountains and downtown Denver. The property is approximately 84% leased, according to an industry source. The site address is 8849 Pearl St.

Built in 1984, the property last changed hands in 2001 for $28.5 million, according to an industry source. Capmark Bank provided $25 million in debt financing for this latest sale, according to the source.

Dave Potarf and Dan Woodward with M&M’s National Multihousing Group handled both sides of the transaction.

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