|
|
2/08/16
|
Seagate Colorado Partners has acquired Panorama at Arvada Ridge, a 264-unit rental community located at 5654 Kipling Parkway in Arvada, CO, for $58.5 mil ($221.6k/unit) in an off-market transaction. Seagate views the deal as a value-add buy and intends to implement common area and amenity improvements along with custom unit upgrades.
Panorama at Arvada Ridge is located near major employers and provides convenient access to both the Denver CBD and Boulder. Constructed in 2005, Panorama at Arvada Ridge has a unit mix consisting of 73 one-bedroom/one-bath units, 77 two-bedroom/one-bath units, 73 two-bedroom/two-bath units and 41 three-bedroom/two-bath units. All units have a full-size washer/dryer, built-in computer desk, electric fireplace, 9' ceilings and walk-in closets in all bedrooms.
Amenities at Panorama include a Jr. Olympic size pool with lap lanes, hot tub, fire pit, three gas grilling stations, theater, sports lounge, 24-hour fitness center, 302 detached garages, dog park, and business center.
Seagate acquired the amenity-rich community from Asher Investments as part of a 1031 Exchange. Panorama represents Seagate’s tenth Colorado acquisition since April 2011 totaling in excess of 2,300 units. Brokers involved with the transaction include Dan Woodward, Dave Potarf, Jake Young, and Matthew Barnett of CBRE.
|
|
 Return to the Archive page
|
|
|
|
|
Printer-friendly Version
Email an Associate
