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

CBRE Hires Charlie Knudsen and Julie Cook to Focus on Credit Tenant Lease Financing
  • About CBRE
  • Media Center
  • Recently Developed Boulder View Apartments Trades for $22 Million—Setting Record per Bed Sale Price for Boulder

Recently Developed Boulder View Apartments Trades for $22 Million—Setting Record per Bed Sale Price for Boulder

March 18, 2016
  • Email
  • Share
  • Tweet
  • Share

DENVER (Mar. 18, 2016) – CBRE Group, Inc., announced today the sale of Boulder View Apartments located at 6655 Lookout Road in Northeast Boulder, Colorado. Dave Potarf, Dan Woodward and Matt Barnett of CBRE Denver Multifamily Investment Properties represented the seller, First Range Management of Boulder. LandBank Investments, LLC, of Menlo Park, California, purchased the property for $22.080 million in a sale that closed March 9, 2016. The property was 97 percent leased at the time of sale.

“Boulder View is a great example of the tremendous demand for multifamily investment in the City of Boulder,” said Matt Barnett, first vice president, CBRE Denver Multifamily Investment Properties. “After finding deep buyer pools for several value-add properties in Boulder over the past year such as Cavalier, Osage, Thunderbird and Eagles Nest, the appetite for new property was just as strong. At $320,000 per unit and $403 per square foot, the per bed price of $262,857 is the highest paid in the market even among several high-profile student housing sales.”

Completed in 2014, Boulder View includes 69 units over three, three-story buildings. The property includes a mix of studio, one- and two-bedroom apartments with an average size of 795 square feet. First Range Management developed Boulder View with a focus on high-quality construction and amenities. Construction features include sound-resistant windows and flooring, an on-demand hot water system, built-in wine racks, recreational storage with bike and ski racks, and a full-size washer and dryer in each unit. Community amenities include an elevated swim spa and hot tub, outdoor grill area, dog park and electric vehicle charging stations.

As a market, Boulder is characterized by some of the highest land prices and impact fees in metro Denver, creating some hurdles for new multifamily development. However, as home prices continue to climb, demand for rental options grow and new high-quality apartments like Boulder View are readily absorbed.

“The buyer appreciated the combination of legacy quality construction and high barriers to entry within the Boulder market,” said Dave Potarf, senior vice president, CBRE Denver Multifamily Investment Properties. “Boulder View will prove to be an excellent long-term investment for the buyer as the market continues to strengthen.”

Boulder View is located just to the northeast of Central Boulder along the Diagonal Highway and surrounded by major employers including IBM, Qualcomm and Covidien.

About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2015 revenue). The Company has more than 70,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 400 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our website at www.cbre.com.

Contact

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