CBRE Brokers Sale of 217-Unit Apartment Complex in Englewood, Colorado

CBRE has brokered the sale of Fielders Creek, a 217-unit apartment community in Englewood, Colorado, to Orion Real Estate Partners. Terrance Hunt, Shane Ozment, Andy Hellman and Justin Hunt of CBRE represented the seller. Bill Chiles, Scott Peterson, Brian Cruz and Colby Matzke with CBRE Debt & Structured Finance in San Diego arranged the acquisition financing on behalf of the buyer.

“Even with the fluidity in the capital markets, we saw strong interest and had a great turnout on this deal. We collected a total of 18 offers driven almost exclusively through private capital in a period where we had to navigate a highly volatile market. This couldn’t have happened without a great execution by our seller and will be a tremendous buy for Orion,” said Mr. Hellman, senior vice president, CBRE.

Located at 3205 W. Floyd Ave. in southwest metro Denver, the nine-building, two- and three-story complex sits on 7.3 acres and has 170,713 rentable sq. ft. The floorplans are divided into studio, one- and two-bedroom units with an average size of 787 sq. ft. Community amenities include a game room, 24-hour fitness center, resort-style pool, grilling and picnic areas, 272 parking spaces, playground and a dog park. Built in 1983, the property has undergone multiple renovation programs, and leaves the new owner the opportunity to invest in interior refreshments.

The property is adjacent the 70-acre mixed-use Loretto Heights redevelopment, five minutes from Englewood CityCenter and surrounding retail, and is near the Englewood light rail station, the University of Denver, and Highways 285 and 85. Fielders Creek has approximately 743,000 jobs within a 20-minute drive of the property.