CBRE announced the $38.5 million sale of The Hadley apartments in Thornton, Colo., to RedPeak. Justin Hunt, Andy Hellman, Katie Fergen and Jessica Graham with CBRE’s Denver office represented the seller, Pathfinder Partners. CBRE’s Brady O’Donnell and Jill Haug arranged the acquisition financing on behalf of RedPeak.
“The Hadley generated strong market interest, which resulted in a very competitive bidding process. The transaction closed in just 35 days from contract execution, which was a tremendous effort from all parties,” said Mr. Hellman, senior vice president, CBRE.
Built in 1985, The Hadley has 140 units with one-bedroom and two-bedroom floor plans. Unit sizes average 760 sq. ft. The community has undergone nearly $4 million in recent capital improvements and deferred maintenance repairs. Upgrades include new roofs, a package locker system, the addition of a dog park, and a fully remodeled clubhouse, fitness center and pool area. Approximately two-thirds of the apartment interiors are renovated, leaving the buyer the opportunity to continue the upgrade program on the remaining units.
The Hadley is located at 501 E. 102nd Ave. in Thornton, with nearby access to I-25. It is within minutes of several large employers, including an 855,000-sq.-ft. e-commerce distribution center and the North Suburban Medical Center.
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 2020 revenue). The company has more than 100,000 employees serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of 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.
