Brinkman Completes Nearly $55 Million in Transactions this Month
Real estate development and investment company Brinkman closed this week on the acquisition of Windom Peak, bringing their total transactions close to $55 million in the last 30 days.
The company’s other transactions in the past month include the acquisition of a Steamboat Springs retail/office center, Sundance at Fish Creek, for $11.7 million, and the disposition of a Fort Collins apartment community, Copperleaf Place, for $21.8 million. These transactions align with the company’s strategy of creating a diverse and robust real estate portfolio positioned for success throughout all stages of the market cycle.
Windom Peak is a 79,000-square-foot Class B/C workforce housing development located on E. Grace Place in Metro Denver with 94-units and 203 bedrooms. With 16 buildings laid out across six acres, this attractive property is ideally situated near some of Denver’s top employers, as well as within the Mapleton Public School District with brand new K-12 schools, many of which are walking distance from the property. The property design includes a mix of one-story apartment buildings and two-story townhomes offering one-, two-, and three-bedroom options.
With expansive outdoor areas and only 15 units per acre, the housing community has a park-like feel ideal for families and individuals looking for the urban location without the city feel. Units include private back patio areas with views of the Denver skyline, as well as a playground and basketball court.
“We’re excited to add this property to our portfolio,” said Brinkman CEO Kevin Brinkman. “Windom Peak provides a unique and convenient living space for tenants and fills a need in the community for this type of product type at this price point.”
Brinkman purchased the property for $20 million from Jasso Investments. Newmark Knight Frank’s Justin Hunt and Andy Hellman, with support from Katie Hufnagel, represented the seller.