DENVER, CO – HFF announced today that it has closed the sale of Bradburn Row, a 310-unit, Class A multi-housing community in Westminster, Colorado.
HFF marketed the property on behalf of Carmel Partners. Cornerstone Real Estate Advisers LLC purchased the asset on behalf of an institutional investor free and clear of existing debt.
Bradburn Row is located at 11900 Newton Street within Bradburn Village, a 120-acre pedestrian-friendly master planned community approximately 20 minutes north of downtown Denver. Completed in 2004, the community was 96 percent occupied at the time of sale with nearly three quarters of the units consisting of three-story, townhome-style units with attached garages. The luxury units average 1,256 square feet each. Community amenities include a resort-style swimming pool, spa, grilling area with fountains and sun deck, game room, resident lounge, fitness center, tanning spa and private movie theater.
The HFF team representing the seller was led by director Jordan Robbins and associate director Jake Young.
“With its highly walkable location and large townhome-style floor plans, Bradburn Row is one of the most unique multi-housing assets in the Denver metropolitan area,” commented Robbins.
Based in San Francisco, Carmel Partners (“Carmel”) is a premier, full-service real estate investment firm specializing in multifamily transactions within the United States. Founded in 1992, Carmel also has offices in New York, Irvine, Denver, Seattle, Washington, D.C. and Honolulu. Carmel is currently pursuing direct value-add apartment properties, ground-up development, debt investments and joint venture deals in its core markets of Northern and Southern California, New York, Seattle, Denver, Washington, D.C. and Hawaii.
Cornerstone Real Estate Advisers LLC (“Cornerstone”), with subsidiary and affiliate offices in the U.S., UK, Europe and Asia, is one of the largest global real estate investment managers. It provides core and value-added investment and advisory services, including a comprehensive suite of private and public real estate debt, equity and securities expertise and services, to institutional and other qualified investors around the globe. Cornerstone is a member of the MassMutual Financial Group. More information is at www.cornerstoneadvisers.com.
HFF (Holliday Fenoglio Fowler, L.P.) and HFFS (HFF Securities L.P.) are owned by HFF, Inc. (NYSE: HF). HFF operates out of 21 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry. HFF together with its affiliate HFFS offer clients a fully integrated national capital markets platform including debt placement, investment sales, equity placement, advisory services, loan sales and commercial loan servicing. For more information, please visit www.hfflp.comor follow HFF on Twitter at www.twitter.com/hff.