Brickstone Partners, a full-service real estate investment and development firm based in Franklin, Tenn., has announced that CEO Daniel Otis has acquired complete ownership and control of The Lodge at Boulder, a luxury 371-bed student housing community located at 2900 E. Aurora Avenue in Boulder, serving the University of Colorado Boulder. Cornerstone, Otis’ family office, played an instrumental role in acquiring the membership interest previously held by Deutsche Finance America (DFA).
“The Lodge has been a mainstay of our student housing platform in Boulder for many years, and we remain committed to providing exceptional living experiences for the University of Colorado students,” Otis said. “Completing this transaction allows us to continue investing in both the asset and the entire community with a long-term perspective.”
The acquisition of the 220-unit community represents a strategic consolidation of ownership and further aligns lasting control of the asset with Brickstone’s operations. The transaction follows the successful 2022 refinancing of a broader Boulder student housing portfolio—including The Lodge at Boulder—with financing co-originated by Blackstone Real Estate and Clarion Partners in a portfolio recapitalization valued at more than $180 million.
Since acquiring the property in 2015, Brickstone Partners and Otis have overseen significant value creation at the community. The investment was recapitalized in 2019 through a joint venture between Brickstone and DFA and later included in the 2022 portfolio refinancing. At the time of the recapitalization these assets had generated internal rates of return in excess of 30 percent.
The Lodge at Boulder has undergone extensive renovations, including upgraded unit interiors, a redesigned clubhouse, enhanced common areas and mechanical system improvements. The community continues to be recognized as one of the leading student housing options in the market, driven by its proximity to the University of Colorado Boulder campus and its high-quality amenity offerings.
The terms of the transaction were not disclosed.
