Capstone has closed the sale of The Arboretum, a new build 58,213 SF, 45-unit multifamily property for the sale price of $17,500,000. The buyers competed with a multiple offer situation and paid asking price for the asset. The buyer’s offer stood out because of its ease of close and that was very attractive to the seller. The seller, Red T, is a prominent developer based out of Denver. Adam Riddle and Jason Koch of Capstone represented the Buyer in this sale.
The Arboretum consists of a great unit mix of twelve 1 bedroom/1 bathroom and thirty-three 2 bedroom/2 bathroom units. All units have high-end finishes throughout, some with balconies, all with access to the rooftop patio with stunning views. Each residence includes a nest thermostat and ceiling fans. Additional amenities include custom dry-cleaning closet, Amazon parcel lockers, security cameras, video access control of the entry door from within each unit, digital keypads for unit access, gas grill and firepit and a private dog run. The Arboretum was built by a local developer and is in lease up at the time of the sale.
The Arboretum is located at 2049 S Columbine St, in the coveted University Park Neighborhood. The five-story building is located near parks, historic shopping districts, blocks from S University Blvd and is in close proximity to University of Denver.
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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.
