CBRE Brokers $29.5 Million Sale of The Harrison Apartments in Denver
2021 12월 21
CBRE announced the $29.5 million sale of The Harrison apartment community in Aurora, Colo., to Montgomery Partners.
Justin Hunt, Andy Hellman, Katie Fergen and Jessica Graham with CBRE Capital Markets in Denver represented the seller, Pathfinder Partners.
Located at 12000 E Kansas Drive, The Harrison sits near metro Denver’s Lowry redevelopment. The community features seven rental buildings and a clubhouse on nearly 9 acres. The 119 units include one- and two-bedroom floor plans with an average unit size of 881 square feet.
The Harrison was originally built in 1972 and underwent a $3.3 million capital improvement campaign prior to its sale. Upgrades included select deck and siding repairs, corrected drainage throughout the property, repaired and restriped asphalt and upgraded landscaping. A portion of the unit interiors were renovated with new flooring, cabinetry, appliances and fixtures. During the renovations new features were added, include a dog park and game area, a perimeter fence, a secure entry gate system and a package locker system.
“The Harrison is a proven value-add opportunity with over 60 percent of the units available for renovation, said CBRE’s Hellman. “The property is centrally located with convenient access to Denver’s major employment centers, including downtown, the Denver Tech Center, Cherry Creek, Lowry and the Fitzsimons Innovation Community.”
The property sits less than 10 minutes from Aurora’s Town Center shopping center and is within the Cherry Creek School District.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2021 revenue). The company has more than 105,000 employees (excluding Turner & Townsend employees) serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.