Lofts at Lincoln Station Sells for $30.5M
The Lofts at Lincoln Station apartment building located at 9375 Station Street in Lone Tree, has sold for $30.5 million. Boston-based Eaton Vance purchased the property in a sale that closed Sept. 30.
Built in 2015, Lofts at Lincoln Station totals 102 units. The four-story building offers one- and two- bedroom apartments with an average unit size of 787 square feet. The property is located at the Lincoln Station stop serving RTD’s E, F and R light rail lines. The location is less than one mile north of RidgeGate, Lone Tree’s 3,500-acre mixed-use community.
“Lofts at Lincoln Station is a high-quality property located adjacent to an RTD light rail stop in one of Denver’s fastest-growing suburban submarkets,” said David Potarf, executive vice president, CBRE.
“Lone Tree is seeing extensive capital inflows including major office, medical and infrastructure projects, driven by the area’s booming population growth. While more than 6 million square feet of Class A office space is planned or under construction in the area, multifamily development is much more limited. Only one market-rate multifamily project is under construction in a 3-mile radius of Lofts at Lincoln Station, which solidifies the property’s strength in the long term,” added Mr. Potarf.