Capstone Colorado Land Team has closed on a ground lease for 815 and 899 Broadway, a 63,750 SF site located in Denver’s Golden Triangle neighborhood. Travis Hodge and Tony Bobay of Capstone brokered the transaction between the Lessor, Lake Street Partners, LLC, and the Lessee, AMLI Residential.
AMLI, which focuses on the development, acquisition, and management of environmentally responsible, luxury apartment communities, plans to develop the site with a 16-story, mixed-use project with 300+ apartment homes and ground floor retail space. The project will offer amenities including a bike café, a sky deck and pool, and a pet courtyard with views of downtown. The property is designed to achieve LEED Gold ® certification, which is a hallmark of AMLI communities nationwide. AMLI is a leader in multifamily sustainability and was recently recognized by the US Green Building Council as a LEED Homes Power Builder for the seventh year in a row and by the Environmental Protection Agency as an ENERGY STAR ® Partner of the Year for the fourth year in a row.
“We are thrilled to see this ground lease close and are thankful for Travis and Tony’s efforts. The project will celebrate and activate an intersection and segment of South Broadway that has tremendous potential. We are excited to build a luxury apartment community with a focus on sustainability and amenities to celebrate work life balance,” said AMLI’s VP of Development, Isabelle Lockwood.
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About Capstone:
The goal of Capstone is to help generate, maintain, and increase the value and profitability of our clients’ multi-housing investment properties. To do so, we provide comprehensive multi-housing advisory services in asset acquisition and development, strategic ownership decisions, market insight and positioning, property value analysis, and disposition brokerage to support our clients in every stage of ownership. This comprehensive multi-housing-focused service offering paired with our relentless drive to win on behalf of our clients is what sets us apart from pedestrian brokerage firms. Capstone simply put: Expertise. Experience. Extra-Mile.
About AMLI Residential
AMLI Residential focuses on the development, construction and management of environmentally responsible, luxury apartment communities throughout the country. Founded in 1980, AMLI is owned by PRIME Property Fund, a core commingled institutional fund. AMLI currently owns and manages 77 apartment communities including over 24,700 apartment homes and has approximately 2,800 additional apartment homes under development at eight locations. AMLI owns 14 apartment communities in Denver, which will contain over 4,360 apartments when its newest developments, AMLI RiNo and AMLI Broadway Park, are completed. AMLI is a leader in multifamily sustainability. Forty-nine AMLI communities are LEED®-certified and 47 communities are ENERGY STAR®-certified. More information is available at www.amli.com.
