Embrey to Build 283-Unit Apartment Community on Leetsdale Drive
San Antonio-based Embrey, a diversified real estate investment company, has purchased 5231 Leetsdale, a 219,562-square-foot (5.04 ac) land property in Denver. A sale price was not disclosed.
The site is home to a small retail strip building and a hardwood flooring company. Embrey plans to demolish the buildings and build a new 283-unit Class A apartment community.
5231 Leetsdale is conveniently located off Leetsdale Drive in the Washington Virginia Vale neighborhood, blocks away from George Washington High School and Cherry Creek. The immediate area boasts a number of neighborhood amenities, such as beautiful parks, locally owned shops, vibrant restaurants and more. The site has a unique topographic advantage as it sits on the side of a hill and will have picturesque views of the Front Range and the south metro skyline.
Travis Hodge and Tony Bobay of Capstone Companies represented Embrey in the transaction.
“Embrey has been a part of the Denver community for 23 years, and over the past decade, Denver’s population has continued to soar,” said Jimmy McCloskey, executive vice president of development for Embrey. “The project on Leetsdale is an example of our continued commitment to the city to create communities that provide a premier living experience. We expect strong rental demand as the area continues to grow. This is the 3rd deal we’ve closed with Capstone in the past year, and we look forward to continuing our work together.”
Capstone Companies provides comprehensive multi-housing advisory services in asset acquisition and development, strategic ownership decisions, market insight and positioning, property value analysis, and disposition brokerage to support their clients in every stage of ownership.