Colorado Apartments Change Hands for $68M

Jackson Square Properties is the new owner of Skye Crest, a 300-unit community in Lakewood, Colo.

Denver—In a $68.3 million deal, Jackson Square Properties has acquired Skye Crest, a 300-unit, garden-style apartment community in Lakewood, Colo.

Skye Crest, Lakewood, Colo.

Skye Crest in Lakewood, Colo.

HFF marketed the property on behalf of the seller, Fairfield Bentley LLC.

The community is located on 16 acres at 7846 W. Mansfield Pkwy. in the western Denver suburb. Strategically situated immediately south of the intersection of Highway 285 and S. Wadsworth Boulevard, it provides easy access to major employers, abundant retail and multiple recreation amenities, such as the Daniel L. Schaefer Athletic Complex and Bear Creek Trail.

Skye Crest consists of 12 three-story buildings and offers a mix of one-, two- and three-bedroom units with views of the Front Range and Rocky Mountains.

Amenities include a swimming pool with sundeck, sports and tennis courts; a 24-hour fitness center; an on-site dog park; and a clubhouse with TV lounge, kitchen and media center.

The property was 95 percent occupied at the time of the sale.

The HFF investment sales team was led by Jordan Robbins, managing director, and Jeff Haag, associate director.

Image courtesy of HFF