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September 21, 2020
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Oakmont Properties Pays Over $300k/Unit for CO Multifamily Asset


Oakmont Properties has purchased Fusion 355, a 286-unit multifamily property in Broomfield, CO, for $90 mil, or around $315k/unit. The asset, located at 355 Eldorado Blvd, was sold by AG Spanos, out of Stockton.

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 256.4k sf, 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 is located in northwest metro Denver at the intersection of Interlocken and Eldorado Blvds, in Broomfield’s Interlocken neighborhood. It was 85% leased at the time of sale.

Dan Woodward, David Potarf and Matt Barnett with CBRE Capital Markets in Denver represented AG Spanos in the transaction. Marc Ross with CBRE’s Sacramento office, repped Oakmont Properties in the deal, which 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 Woodward. “The buyer was familiar with the high-quality of AG Spanos’ developments in other markets.”

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