Capstone has closed on the sale of the Mesa Verde Apartments, a 276-unit multifamily property for the sale price of $64,500,000. Brandon Kaufman of Capstone represented the Buyer in the transaction.
The Mesa Verde Apartments consist of spacious one-bedroom, two-bedroom & three-bedroom units. The units include individually controlled heating & air-conditioning, as well as walk-in closets. The community features volleyball & basketball courts, an outdoor swimming pool, and a playground & picnic area. In addition to the amenities, the property has ample private off-street parking for tenants.
The Mesa Verde Apartments are located at 9700 West 51st Place, near the intersection of 51st Place & Kipling Parkway in Arvada. The apartments are just across the street from many restaurants & retail, including Target, and located just a half-mile from the proposed Light Rail Station.
“I am very grateful to have had the opportunity to broker this deal. Both the Buyer and Seller together well from beginning to close making this an enjoyable transaction as a whole. I am excited to see the Buyer continue to advance the operations and physical character to what is already a tremendous asset.” says Capstone’s Brandon Kaufman.
The buyer plans to perform significant interior renovations, add additional units to the buildings, and add a clubhouse for tenant-use. The buyer also plans to add a gate surrounding the property for additional tenant security, and resurface the parking lots.
The buyer said of the transaction, “This deal would not have been possible without Brandon’s ability to creatively solve problems and stay in front of any obstacles at the right times. We have discussed doing larger deals for multiple years and finally came across the perfect opportunity that made sense for all parties. I’m extremely thankful to Brandon and his team for helping us get this property identified and closed!”
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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.
