BrokerageMultifamily

Multifamily Community in DTC Sells for $47.8M

According to CBRE, San Diego-based Sunroad Enterprises has acquired The Mezz at Fiddlers Green, a newly-constructed, 149-unit Class A multifamily property located at 6440 South Syracuse Way in the Denver Tech Center, for $47.78 million.

“We have actively been looking to grow our footprint in Denver. The Mezz, when it became available, was an obvious target for this expansion. We recognized the A+ development as a unique opportunity. With its ideal location in the Denver Tech Center, best-in-class amenities and finishes, it fits perfectly into our growth strategy for Denver,” states Dan Feldman, president of Sunroad Asset Management. “The developer clearly had an eye for exceptional detail, and we feel privileged to be the owners of this special property.”

Dan Woodward, David Potarf and Matt Barnett with CBRE Capital Markets in Denver arranged the sale on behalf of the out-of-state seller, The Garrrett Companies. Rocco Mandala with CBRE’s Phoenix office secured the financing for Sunroad Enterprises.

“The Mezz at Fiddlers Green is an attractive new build with immediate access to Denver’s largest employment base in the Denver Tech Center. While built to a boutique scale, the community offers residents excellent amenities sized to a more traditional 300-unit project,” commented Barnett, senior vice president, CBRE Capital Markets. “The buyer purchased the property early during lease-up, adding to their current Denver portfolio.”

The property includes a mix of one-, two- and three-bedroom units with high-end amenities such as open-concept living, designer white cabinetry, granite countertops, plank flooring and crown molding, stainless steel appliances and tile backsplashes.

Community amenities include a 1,600-square-foot fitness center, a bike repair station, bike racks, electric vehicle charging stations, an outdoor kitchen and firepit, a pet grooming area and rentable storage rooms. The property also includes a pool with a sun shelf, spa and cabanas that receives poolside delivery service from I.C. Brewhouse, an on-site restaurant included in the transaction.

Photo courtesy of CBRE

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