Boulder 82-unit apartment complex scooped up for $24.15M

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Boulder County

Property Location: 565-635 Mohawk Drive, 4545-4595 Laguna Place, Boulder, “Villa Del Prado Apts.”

Property Description: 82-unit, two-story apartment, 92,496 sf, with four buildings, YOC 1968-1974, masonry construction plus parking garage

Land Size: 3.91 acres

Sales Price: $24.15M, or $294,512 per unit, or $261.09 psf

Reception No.: 03569296

Grantor: Boulder Properties Investor LLC, Hollis Considine, mgr.

Grantee: Pathfinder Boulder Holdings II LLC, Mitch Siegler, mgr., 4380 La Jolla Village Drive, Suite 250, San Diego, CA 92122

Closing Date: 1/11

Financing: $15.69M payable to Grandbridge Real Estate Capital LLC

Comments: There are two studio apartments, 20 one-bedroom units, 56 two-bedroom units and four three-bedroom apartments. The ARA Newmark Denver team consisting of Jeff Hawks, Doug Andrew, Terrance Hunt, Shane Ozment, Chris Cowan, Anna Stevens & Amanda Meldrum handled the transaction. The 32-unit apartments at 565 Mohawk Drive sold for $9.15M. The 50-unit apartments at 635 Mohawk Drive sold for $15 million.

Comp of the Day is provided by John V. Winslow, president of Winslow Property Consultants. Winslow has more than 40 years’ experience in commercial real estate. He can be reached at 720-612-7878 or Colprop2012@gmail.com.

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