Embrey Partners Buys Land in Lakewood to Develop 354-Unit Apartment Community
San Antonio-based Embrey Partners has purchased 11085 and 11001 W Colfax Ave, a 190,990-square-foot 4.38-acre land assemblage in Lakewood. Pending approvals from the City of Lakewood, the developer plans to demolish the small existing building that is currently home to a window tinting business and develop Bel Aire – a new four-story, 354-unit Class A apartment community.
“This site appealed to us for several reasons,” said Jimmy McCloskey, executive vice president of development for Embrey. “It’s close to the Denver light rail, located in a supply-constrained submarket, and we expect strong rental demand as the area continues to grow. This is the second deal we’ve closed with Capstone in the past six months, and we look forward to continuing our work together.”
Travis Hodge and Tony Bobay of Capstone Colorado Land Team represented Embrey Partners in the transaction. Atlas Real Estate Services, LLC was the seller of 11085 W Colfax, and Colfax Owens, LLC was the seller of 11001 W Colfax.
The site is conveniently located on Colfax Ave, between Pierson St and Owens St, less than .5 miles from Oak Street Light Rail Station. 6th Avenue and I-70 are just minutes away, providing easy access to all of metro Denver. The immediate area boasts a number of neighborhood amenities, such as beautiful parks, locally-owned shops, vibrant restaurants and more.
Embrey Partners already has experience with West Colfax Avenue. In 2020, the developer also sold Lux at Mile High, a 382-unit project near Empower Field, for $145 million.