Lone Tree Multifamily Asset Sells for $62M

DENVERJLL’s Capital Markets experts completed the $62 million sale of Aspect, a Class A, 230-unit multifamily asset in the affluent Denver suburb of Lone Tree, Colorado. JLL represented the seller, Holland Partner Group, a recognized leader in the development of high-quality investment properties in the Western United States.

Managing Directors Mike Grippi, Pamela Koster and David Martin led the new JLL multifamily team in their first sale.

“We were very pleased with the market’s reception to the Aspect offering,” said Martin. “Once again, Holland Partner Group did a great job executing good product at a superb location in conjunction with a creative structured development financing package from Principal Real Estate Investors.” Added Koster, “This sale is representative of the type of institutional investment we continue to see in the Denver multifamily market and speaks to the quality of the investment landscape here. We’re thrilled that this was our inaugural deal with JLL, and look forward to completing many more.”

Residents of Aspect have access to multimodal transportation and are less than 10 minutes walking distance from Lincoln Station which includes the E, F and R-Line light rail.

According to JLL, Lone Tree has emerged as Denver’s most sought-after enclave in recent years, and as the metro’s fastest growing suburb it includes a discerning renter-by-choice demographic.

Holland Partner Group is also the developer of the following Denver properties: Union Denver, Platform at Union Station, Milehouse, The Den, and Cadence.

Photo courtesy of JLL


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