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Colorado Apartment Sales Bringing Record Prices

BROOMFIELD, CO-An Austin investment company has set a record price of $116,988 per sf for an apartment complex in Broomfield, a bedroom community between Denver and Boulder. Earlier this week, GlobeSt.com reported a Colorado Springs sale set a record, bringing in $13.7 million or $97,857 per unit for the 140-unit Autumn Heights Townhomes at the foot of Cheyenne Mountain.

By John Rebchook | Updated on August 04, 2000

An Austin investment company has set a record price of $116,988 per sf for an apartment complex in Broomfield,CO, a bedroom community between Denver and Boulder.

CWS Town Centre Holdings L.P. paid $33.1 million for the Jefferson at Town Centre near W. 120th Ave. at 1001 E. First Ave., Broomfield, minutes away from the Interlocken Business Park in Broomfield. No other apartment project in the metro area – other than ones that were bought to be converted into condominiums – have ever sold for such a lofty price, says Jeff Hawks, who sold the project on behalf of JPI, with fellow Grubb & Ellis Co. broker Doug Andrews.

“Jefferson Town Centre is the highest-quality apartment community to have sold in the metro Denver area,” said Hawks, an apartment specialist with Grubb & Ellis.

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