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8/25/26
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EMBREY, a San Antonio-based real estate investment firm, purchased an 18-acre plot and improvements at the Northwest Corner of Northwest Pkwy and Hwy 287 in Lafayette, CO, for $38.5 mil. The site is located near Hwy 36 and I-25 employment hubs and provides convenient access to Boulder, Denver and the broader Northern Colorado area.
Milestone Development Group originally acquired 36.14 acres in 2018 and proceeded to entitle the property as a two-phase multifamily project, Sundar Phases I & II. EMBREY’s acquisition of Sundar Phase I includes approvals for 324 multifamily units in addition to site work improvements. Milestone opted to remain a partner in the project with Embrey post-closing.
Martin Roth and Eric Roth of CBRE represented the seller in the transaction.
No new multifamily units were completed in the Boulder submarket during Q2 2026, according to CBRE research. At the same time, the submarket's vacancy rate went down one percentage point quarter-over-quarter to 4.5%, underscoring continued demand for new housing inventory.
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