BROOMFIELD, CO - Atlanta-headquartered ARA, the largest privately held, full-service investment advisory brokerage firm in the nation focusing exclusively on the multihousing industry, recently brokered the sale of ALTA Harvest Station, a +/- 13.73-acre site located at the southern corner of 118th Avenue and Wadsworth Boulevard in Broomfield, Colorado, just across Highway US-36 from the Arista Development, the Broomfield Park-n-Ride station and the 1STBank Center. ARA Colorado principals, Steve O’Dell and Chris Cowan, represented the seller in the transaction. Wood Partners, one of the nation’s largest multifamily developers, purchased the site for an undisclosed price. Wood Partners plans to break ground on a 297-unit, TOD apartment community in mid-November.
Steve O’Dell explained, “This is the third acquisition for Wood Partners this year, all have been focused on existing or future light rail lines with great access to downtown Denver.”
“Wood Partners continues to be one of the most active apartment development groups in our market and with this recent acquisition they have planted their flag in the Broomfield/NW Submarket,” said Chris Cowan.
Wood Partners’ ongoing development of ALTA Alameda Station, also acquired via ARA Colorado’s Steve O’Dell and Chris Cowan earlier this year, is a 338-unit community located in the historic Baker Neighborhood. Upon completion in 2014, ALTA Alameda Station will provide residents traffic-free access to the entire Denver metro area via the existing Alameda Light Rail Station.
Chris Cowan added, “Broomfield has really come alive in 2012, the Arista development is gaining momentum as a development, and with key office leases, and Wood Partners is days away from putting a shovel to the ground.”
To schedule an interview with an ARA executive regarding this transaction, 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 $5.5 billion in real estate transactions since 2005. For detailed information on ARA’s extensive multihousing investment services, visit www.ARAusa.com