LONE TREE, CO - Atlanta-headquartered ARA, the largest privately held, full-service investment advisory brokerage firm in the nation focusing exclusively on the multihousing industry, recently represented an affiliate of Martin Fein Interests, Ltd. in the acquisition of The Vue Apartment Homes at RidgeGate land, a +/- 4.18-acre site within the 3,500-acre master-planned RidgeGate community located in Lone Tree, Colorado. ARA Colorado Principals, Steve O’Dell and Chris Cowan, represented Martin Fein in the transaction. The seller was RidgeGate Investments, Inc.
“The recent land sale in RidgeGate is an example of two highly respected groups coming together to further a prominent development site and master-planned community. Martin Fein Interests, Ltd. is regarded as one of the highest quality apartment developers in the country and RidgeGate’s commitment to Lone Tree is unmatched,” said Chris Cowan.
Located at the southwest corner of Lincoln Avenue and Interstate-25, the affiliate of Martin Fein Interests, Ltd. broke ground on The Vue Apartment Homes at RidgeGate in early February, 2012. The 281-unit, mid-rise, wrap construction community is scheduled for completion in late 2013, with leasing to begin late 1st quarter 2013. The property’s location within RidgeGate and proximity to continued public and private development of SkyRidge Medical Center and the future Sky Ridge light rail station will add exponential value to the Vue at RidgeGate upon completion.
The adjacent SkyRidge Medical Center recently announced plans to add 100 beds, expanding their facilities by one third. The expansion will begin in early 2013, and upon completion in 2014 will bring an additional 300 jobs to Lone Tree. In addition, The Regional Transportation District (RTD) is extending the southeast corridor to add three stops within RidgeGate at SkyRidge, Lone Tree City Center, and RidgeGate Parkway, all within ten minutes of the property. Future residents will also benefit from the community’s access to I-25, providing direct access to downtown Denver, the Denver Tech Center Business Corridor, Park Meadows Mall, and DIA. The DTC Business Corridor is the largest employment center in metro Denver. With more than 40 million square feet of office space, this area is 53% larger than the downtown office market and now accommodates approximately 150,000 office workers.
Steve O’Dell concluded, “Martin Fein builds some of the highest quality luxury apartments in the country. The Vue at RidgeGate, will be highly visible and accessible, just north of Sky Ridge Medical Center. Views, visibility from I-25, and proximity to major employers and transit will make this a top suburban location.”
To schedule an interview with an ARA executive regarding this transaction or for more information about ARA, please contact Lisa Robinson at lrobinson@ARAusa.com or 678.553.9360, or Amy Morris at amorris@arausa.com or 678.553.9366; locally, Steve O’Dell at odell@ARAusa.com, or Chris Cowan at cowan@ARAusa.com, or 303.260.4400.
About ARA
Atlanta-headquartered ARA is the largest privately held, full-service investment advisory firm in the nation that focuses exclusively on the brokerage, financing and capital sourcing of multihousing properties including conventional, affordable, distressed assets, notes sales, seniors, student & manufactured housing and multihousing land. ARA is comprised of the country’s top investment professionals who leverage a unique and fully integrated cooperative business platform of shared information, relationships and technology driven solutions. ARA’s unified enterprise approach ensures that clients are delivered the broadest asset exposure, effective matching of buyers and sellers, and the shortest transaction timeframes in the industry. The combination of resources, unparalleled market expertise and nationwide presence in the multihousing marketplace has resulted in average annual production volume of $5.4 billion in real estate transactions since 2004. For detailed information on ARA’s extensive multihousing investment services, visit www.ARAusa.com