logo redirect pin user minus plus fax mobile-phone office-phone data envelope globe outlook retail close line-arrow-down solid-triangle-down facebook globe2 google hamburger line-arrow-left solid-triangle-left linkedin wechat play-btn line-arrow-right arrow-right solid-triangle-right search twitter line-arrow-up solid-triangle-up calendar globe-americas globe-apac globe-emea external-link music picture paper pictures play gallery download rss-feed vcard account-loading collection external-link2 internal-link share-link icon-close2
United States
  • Global
  • United States
  • Angola
  • Argentina
  • Australia
  • Austria
  • Bahrain
  • Baltics
  • Belgium
  • Brazil
  • Bulgaria
  • Cambodia
  • Canada
  • Chile
  • Colombia
  • Czech Republic
  • Denmark
  • Egypt
  • Finland
  • France
  • Germany
  • Greece
  • Hong Kong
  • Hungary
  • India
  • Indonesia
  • Ireland
  • Israel
  • Italy
  • Japan
  • Jordan
  • Kazakhstan
  • Kenya
  • Korea
  • Kuwait
  • Latin America
  • Luxembourg
  • Mainland China
  • Malaysia
  • Mexico
  • Morocco
  • Netherlands
  • New Zealand
  • Norway
  • Oman
  • Pakistan
  • Panama
  • Peru
  • Philippines
  • Poland
  • Portugal
  • Romania
  • Russia
  • Saudi Arabia
  • Singapore
  • Slovakia
  • South Eastern Europe
  • Spain
  • Sweden
  • Switzerland
  • Taiwan
  • Thailand
  • Turkey
  • Ukraine
  • United Arab Emirates
  • United Kingdom
  • Venezuela
  • Vietnam
Log In
  • Global Intranet
  • myCBRE
  • Services
    • Business Segments

      Advisory Services

      Global Workplace Solutions

      Real Estate Investments

      • Advisory & Transaction Services
      • Capital Markets
      • Project Management
      • Property Management
      • Valuation & Advisory Services
      • Advisory & Transaction Services | Occupier
      • Client Strategy and Consulting
      • Facilities Management
      • Project Management
      • Development Services (Trammell Crow Company)
      • Flexible Space Solutions (Hana)
      • Investment Management (CBRE Global Investors)
    • Services for Investors
      • Appraisal Management
      • Debt and Loan Valuation
      • Federal Government Leases
      • Leasing & Advisory
      • Litigation Support
      • Net Lease Properties
      • Small Balance Lending
      • Corporate Capital Markets
      • Debt & Structured Finance
      • Going Concern Valuation
      • Investment Accounting & Reporting Solutions
      • Loan Portfolio Sales
      • Property Management
      • Telecom Advisory
      • Construction Risk Management
      • Energy & Sustainability
      • Host
      • Investment Banking
      • Loan Servicing
      • Property Sales
      • Valuations for Financial & Tax Reporting
    • Services for Occupiers
      • Business Transition & Move Management
      • Energy & Sustainability
      • Host
      • Location Analytics
      • Portfolio Services
      • Space Enablement
      • Client Strategy and Consulting
      • Expense Management Solutions
      • Labor Analytics
      • Location Incentives
      • Project Management
      • Workplace
      • Corporate Capital Markets
      • Facilities Management
      • Leasing & Advisory
      • Network Advisory
      • Real Estate Accounting
    • Asset Types & Specialties
      • Office
      • Aerospace and Defense
      • Data Centers
      • Golf & Resorts
      • Multifamily
      • Parking
      • Industrial & Logistics
      • Affordable Housing
      • Hotels
      • Land
      • Nonprofit
      • Self-Storage
      • Retail
      • Aviation Properties
      • Gaming
      • Manufactured Housing
      • Omnichannel
      • Senior Housing
    • Industry Sectors
      • Industrial & Logistics
      • Energy, Oil & Gas
      • Law Firms
      • Technology, Media & Telecom
      • Retail
      • Financial Services
      • Life Sciences
      • Data Centers
      • Healthcare
      • Student Housing & Education
  • Properties
  • Research & Insight
    • Latest National Research & Reports
      The Way Forward
      Weekly Insights
      Reopening the World's Workplaces
      COVID Resource Center
  • People & Offices
  • About CBRE
    • Careers
      Case Studies
      Corporate Information
      Corporate Responsibility
      Executive Leadership - Global
      Investor Relations
      Media Center
      Suppliers

Next

Press Release
CBRE Hires Charlie Knudsen and Julie Cook to Focus on Credit Tenant Lease Financing
  • About CBRE
  • Media Center
  • CBRE Completes $44.2 Million Sale of Stonebridge at Twin Peaks Multifamily Community in Boulder County

CBRE Completes $44.2 Million Sale of Stonebridge at Twin Peaks Multifamily Community in Boulder County

Denver, CO | November 8, 2018
  • Email
  • Share
  • Tweet
  • Share

CBRE announced today that it has completed the $44.2 million sale of the multifamily community Stonebridge at Twin Peaks, located at 2424 9th Street in Longmont, Colorado, which closed Nov. 7, 2018. CBRE’s Dan Woodward, David Potarf, Matthew Barnett and Jake Young represented the seller, a joint venture between Holland Partner Group and Principal Real Estate Investors of Des Moines, Iowa.

“Stonebridge at Twin Peaks was attractive to investors because it is a high-quality suburban property located within the coveted Boulder County region, just a short drive from downtown Boulder and the northwest business corridor, one of metro Denver’s largest employment centers. Almost half of the units have been successfully renovated, aligning well with a continued value-add strategy,” said David Potarf, Executive Vice President, CBRE. 

Built in 1998, Stonebridge at Twin Peaks is a garden-style community consisting of 172 one, two and three-bedroom apartments across seven buildings on nearly 11 acres. The average unit size is 992 sq. ft., well above the submarket’s 857 sq. ft. average. The seller recently renovated 75 units with upgrades to flooring, appliances, countertops, cabinet fronts and fixtures. Community amenities include a clubhouse/business center, fitness center, heated swimming pool, on-site walking path, dog park and both garage and surface parking options. Occupancy at the time of sale was 95.9 percent.

The property is located at 9th Avenue and Hover Street, just northwest of downtown Longmont and across from the Twin Peaks Golf Course. More than 5 million sq. ft. of retail is within three miles or less of the site with another 250,000 sq. ft. proposed or under construction, primarily along Main Street/Highway 287. The property is also a short drive from the new Smuckers plant currently in development and expected to open at the end of 2019. Plans call for up to 500 jobs to be located at the Longmont facility once it is at full capacity. Boulder is a 15-minute drive south of the property, while Fort Collins is a 20-minute drive north.

“Longmont is experiencing incredible growth sitting at the intersection of high technology and manufacturing while offering a unique combination of infrastructure, high quality of life, skilled workforce and a business-friendly climate,” said Jake Young, First Vice President, CBRE.

Stonebridge at Twin Peaks

About Principal Real Estate Investors

Principal Real Estate Investors manages or sub-advises $74.5 billion in commercial real estate assets (As of September 30, 2018). The firm's real estate capabilities include both public and private equity and debt investment alternatives. Principal Real Estate Investors is a dedicated real estate group of Principal Global Investors, a diversified asset management organization and a member of the Principal Financial Group®. Principal Real Estate includes the companies of Principal Real Estate Investors LLC and Principal Real Estate Europe Limited.

About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas is the world’s largest commercial real estate services and investment firm (based on 2019 revenue). The company has more than 100,000 employees (excluding affiliates) and serves real estate investors and occupiers through more than 530 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.

Press Releases

Sara Johnston headshot
Sara Johnston
Corporate Communications, Mountain-Northwest Division
+1 303 2641912
+1 660 3499498
+1 303 6281751
  • Corporate Information
  • Corporate Responsibility
  • Case Studies
  • Media Center
  • About Us
  • Careers
  • People and Offices
  • Global Leadership
  • Investor Relations
  • Contact Us
  • Global Web Privacy and Cookie Policy
  • Sitemap
  • Terms of Use
  • United States Privacy Policy
  • Our Response to SCHREMS II
  • Twitter
  • Facebook
  • LinkedIn