Exclusive: Alliance Residential Cashes In $121M for Denver Asset
The buyer took out a $73 million Fannie Mae loan.
Alliance Residential Co. has sold Broadstone Sterling Ranch, a 332-unit community in Littleton, Colo., for $121 million, according to Yardi Matrix information. Coit Financial Group acquired the Denver-area asset for $364,458 per unit.
The buyer also took out a $72.6 million Fannie Mae loan originated by CBRE Capital Markets, the same data provider shows. The permanent note is set to mature in October 2030.
Alliance completed the property last year, using a $66.6 million construction loan issued by Cadence Bank in 2022.
Located at 8425 Old Ski Run Circle, Broadstone Sterling Ranch is some 22 miles from downtown Denver, while the city’s international airport is 47 miles away.
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The community encompasses 11 three- and four-story buildings across more than 12 acres. The unit mix comprises studio, one-, two- and three-bedroom floorplans ranging from 513 to 1,281 square feet. Select layouts also feature private balconies or patios.
Common-area amenities include a clubhouse, fitness center, swimming pool and spa, as well as more than 480 parking spaces. The property also has a fireside lounge, coworking and conference space, entertainment kitchen, rooftop lounge and coffee bar, along with EV charging stations.
Denver multifamily sales drop year-over-year
Denver’s multifamily investment volume clocked in at $1.6 billion year-to-date as of August, according to Yardi Matrix data. A total of 32 communities—almost 6,300 apartments—changed hands, marking a decline from the 44 assets totaling 9,600 units that traded for $2.5 billion during the same period of 2024. The average price per unit remained similar year-over-year.
In one of the more significant deals of this year, Evergreen Devco sold Outlook Table Mesa, a 250-unit property in Wheat Ridge, Colo., for $97 million. FJ Management acquired the luxury community that came online last year.
Another notable transaction involved Solaire Apartments, a 252-unit asset in Denver. The Milestone Group purchased the 2014-built community that comprises 11 residential buildings.
