Newly Built Apartment Community in Littleton Sells for $64M

Littleton, COARA, A Newmark Company (ARA Newmark) just announced the $64 million sale of 250-unit Escape at Ken Caryl in the exclusive south Denver submarket of Littleton, CO. The property’s location in the coveted Ken Carl Ranch Master Association and proximity to Lockheed Martin’s future Waterton Canyon campus, drew intense interest.

Vice Chairmen Terrance Hunt, Shane Ozment, Jeff Hawks and Doug Andrews, and Executive Managing Director Chris Cowan represented Boston-headquartered TA Realty, one of the largest real estate investment management firms in the U.S., in the sale to a venture sponsored by North Carolina-based Bell Partners. Bell Partners is a privately held apartment investment and management company with a portfolio of over 60,000 units across the U.S., including a Denver-based portfolio exceeding $650 million.

“Escape at Ken Caryl is the only newly-built apartment community within Ken Caryl Ranch,” said Hunt. “Lockheed Martin recently announced plans for a $350-million- dollar satellite production facility, which will create 1,500 contractor jobs over the course of the three-year construction phase and will help to accommodate its 350 current job openings – all within minutes of the community.”

Located at 12044 West Ken Caryl Circle, the property is also a short drive to the booming Denver Technological Center (DTC) business corridor, the largest employment center in metro Denver with more than 200,000 jobs. Ken Caryl Ranch and the surrounding area boast affluent demographics. The annual household income within a one-mile radius of the property is nearly $128,000 and 60 percent of the population holds a college or advanced degree.

The master-planned development features exclusive amenities such as 3,800 acres of private open space, over 25 miles of trails and the Ranch House, which includes tennis courts, outdoor 25-meter swimming pool, soccer fields, disc golf course, sand volleyball court and equestrian center. Escape at Ken Caryl’s property amenities include direct access garages, a clubhouse, resident lounge with billiards and shuffleboard, a resort-style pool, poolside grills, a catering kitchen, a business center and a bike workshop.

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