AMLI at Flatirons Multifamily Acquired by Bell Partners
Broomfield, CO – Bell Partners Inc., recently announced that, on behalf of its investors, it has acquired AMLI at Flatirons, a 500-unit community in Broomfield, Colorado, located halfway between Downtown Denver and Boulder. The community will be renamed Bell Summit at Flatirons and will be managed by Bell Partners. It is located across the street from its sister property, Bell Flatirons, which Bell purchased in April 2015.
Completed in 2004, Bell Summit at Flatirons was 95 percent occupied at the time of purchase. The surrounding area, with easy access to a number of international and Fortune 500 companies, is home to a highly-educated, affluent workforce. In addition, the neighborhood offers a wide variety of shopping, recreational, and entertainment venues. It is also convenient to Highway 36, the main transportation corridor between Denver and Boulder.
Bell Summit at Flatirons is a mid-rise community with a wide range of thoughtfully designed one and two bedroom floor plans. The community’s apartment homes average 960 square feet and feature private balconies or patios, walk-in closets, large pantries, linen closets, gas fireplaces, as well as vaulted ceilings in select units. Property amenities consist of multiple courtyards, a large clubhouse with a cyber café and a billiards area, a fitness center, and a resort-style pool with grilling areas and cabanas. After closing, Bell will implement a comprehensive product improvement plan focused on apartment interiors and the amenities areas.
Joseph Cannon, Senior Vice President of Investments, said: “We are pleased to add this distinctive community to our Denver area portfolio. We were attracted to this investment opportunity due to the combination of Denver’s strong job and population growth, compelling multifamily fundamentals, and the value-add opportunity at the community.”
Image courtesy of Bell Partners