DENVER, CO - CBRE has brokered the $30.5 million sale of the Lofts at Lincoln Station apartment building located at 9375 Station Street in Lone Tree, Colo. Dan Woodward, David Potarf, Matt Barnett and Jake Young with CBRE Capital Markets in Denver represented the seller, Griffis/Blessing, Inc. of Colorado Springs. Eaton Vance of Boston purchased the property in a sale that closed Sept. 30.
“Lofts at Lincoln Station is a high-quality property located adjacent to an RTD light rail stop in one of Denver’s fastest-growing suburban submarkets,” said David Potarf, Executive Vice President, CBRE.
Built in 2015, Lofts at Lincoln Station totals 102 units. The four-story building offers one- and two-bedroom apartments with an average unit size of 787 sq. ft. Community amenities include a clubhouse, fitness center, dog wash station, outdoor kitchen and outdoor wading pool with two spas.
The property is located in southeast metro Denver at the Lincoln Station stop serving RTD’s E, F and R light rail lines. The location is just west of I-25, two miles south of Park Meadows Mall and less than one mile north of RidgeGate, Lone Tree’s 3,500-acre mixed-use community that includes several corporate campuses, Sky Ridge Medical Center and myriad retail offerings with more commercial development underway.
“Lone Tree is seeing extensive capital inflows including major office, medical and infrastructure projects, driven by the area’s booming population growth. While more than 6 million sq. ft. of Class A office space is planned or under construction in the area, multifamily development is much more limited. Only one market-rate multifamily project is under construction in a 3-mile radius of Lofts at Lincoln Station, which solidifies the property’s strength in the long term,” added Mr. Potarf.