JLL Brokers $62M Denver Community Sale
- Aug 29, 2018
JLL Capital Markets has completed the sale of Aspect, a 230-unit property in Denver’s suburb of Lone Tree, Colo. Managing Directors Mike Grippi, Pamela Koster and David Martin led the team working on behalf of the seller, Holland Partner Group. According to data provider Yardi Matrix, John Hancock Life Insurance acquired the asset for $62 million, or $269,565 per unit.
Located at 10400 Park Meadows Drive, west of Interstate 25, on approximately 6 acres, the community offers convenient access to RTD light rail and is within a 10-minute walk of Lincoln Station. Denver’s Central Business District is approximately 19 miles away.
Aspect features a mix of one- and two-bedroom units ranging from 559 to 1,277 square feet and offers in-unit amenities such as:
- stainless steel appliances
- quartz countertops
- walk-in closets
- balconies or patios
Common-area amenities include a clubroom, two-story fitness center, bike storage, dog wash, conference room, wine room, free Wi-Fi, sky desk and a spa. The property was 93.5 percent occupied as of July and had an average rental rate of $1,628 as of August, Yardi Matrix data shows. In another recent deal, JLL brokered the sale of a Class A community in Portland, Ore.
Image courtesy of Yardi Matrix
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