Marcus & Millichap Arranges Sale of 3 CO Assets

The properties in the transaction include Elm Grove and Shadow Tree—which the buyer plans to renovate—as well as Fitzsimons Place, all located in Aurora, Colo.

Marcus & Millichap has secured the $24.7 million sale of three properties located in Aurora, Colo., following another recent Colorado multifamily sale. Senior Director Greg Price, of the company’s Denver office, represented the buyer and seller.  According to data provider Yardi Matrix, AQP Capital acquired all three assets. 

The properties in the transaction include Elm Grove, a 58-unit community at 11852 E. 16th Ave., offering a mix of studio and one-bedroom units, averaging 642 square feet. The single-building property features a swimming pool, laundry facilities, fireplace, Wi-Fi, walk-in closets, balconies and a total of 116 parking spaces.

Fitzsimons Place, a 99-unit property located at 1568 Nome St., offers studios, one- and two-bedroom units. The four-story building includes common amenities such as a fitness center, clubhouse, five laundry facilities, air conditioning, Wi-Fi and 100 parking spaces.

Shadow Tree is a 120-unit community situated at 1800 Billings St., offering one- and two-bedroom units averaging 621 square feet. The two three-story buildings offer a playground, three laundry facilities, basketball court, Wi-Fi and 180 parking spaces.

All three properties are close to the Fitzsimons Bio Science District and the University of Colorado Anschutz Medical Campus. Additionally, the Colfax Station Light Rail and Denver International Airport are a few minutes away. Elm Grove and Fitzsimons Place are market-rate properties, while Shadow Tree is rent-restricted, with 60 percent area median income units.

The buyer plans to renovate Elm Grove and Shadow Tree.

Images courtesy of Marcus & Millichap and Yardi Matrix

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