Denver, CO – CBRE has completed the sale of Brix on Belleview, a 175-unit apartment community located at 175 West Belleview Avenue in Englewood. The property, which was approximately 95.4 percent leased at time of sale, commanded a sale price of $25.73 million.
Jake Young, Dan Woodward, Dave Potarf and Matt Barnett with CBRE’s Denver office negotiated the transaction on behalf of the seller, Avenue North. The buyer was Slipstream Properties. CBRE Capital Markets Debt & Structured Finance professionals Brady O’Donnell secured acquisition financing for Slipstream Properties. “CBRE did an exceptional job maketing the asset to a broad spectrum of potential buyers, and ultimately picked the right buyer for the asset,” said Ryan Hartman, Principal with Avenue North.
“Multifamily properties in Denver’s core continue to experience high investor demand,” said Jake Young, Vice President with CBRE’. “Brix on Belleview benefits from an excellent location adjacent Cherry Hills with proximity to numerous amenities, including a newly built Sprouts-anchored center within walking distance, as well as proximity to major employers.”
Brix on Belleview situated in Englewood adjacent the prestigious Cherry Hills neighborhood, yet conveniently close to the Denver Tech Center as well as Denver’s downtown district. The property boasts a ‘Very Walkable’ Walkscore of 70 with immediate access to several retail and entertainment options at Broadway & Belleview. Additionally, major drivers like downtown Littleton, the Littleton/Downtown Light Rail Station and Craig Hospital are all within proximity.
Image courtesy of CBRE