64 Total Units | Built in 2013 · 2018-07-31 · access to downtown’s core, attracting young...
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| EXCLUSIVE MULTIFAMILY OFFERING a Berkshire Hathaway and Jeffries Financial Group CentralDenver.BerkadiaREA.com 64 Total Units | Built in 2013
Transcript of 64 Total Units | Built in 2013 · 2018-07-31 · access to downtown’s core, attracting young...
| EXCLUSIVE MULTIFAMILY OFFERING a Berkshire Hathaway and Jeffries Financial Group
CentralDenver.BerkadiaREA.com64 Total Units | Built in 2013
CENTRAL DENVER PORTFOLIO EXECUTIVE SUMMARY
Berkadia is pleased to present the exclusive opportunity to purchase the Emerson/Ascent - Central Denver Apartment Portfolio. The Portfolio is comprised of two assets built in 2013; the Emerson Lofts, a 42-Unit apartment community, and The Ascent Uptown, a 22-Unit mixed-use property. Both assets are located in well-established, top Central Denver neighborhoods, which are in close proximity to numerous employment hubs and entertainment venues. The Seller has requested that both assets are purchased together in a single transaction, which will allow an investor to acquire a total of 64 units plus retail, in highly sought after central submarket(s).
UNIT MIX
TypeTotal Number
of UnitsAverage
SFStudio 8 5231 Bed / 1 Bath 14 594-723
22 615Retail 2 4,988
UNIT MIX
TypeTotal Number
of UnitsAverage
SF1 Bed / 1 Bath 31 5682 Bed / 2 Bath 10 8753 Bed / 2 Bath 1 987
42 651
EMERSON LOFTS PROPERTY SUMMARY
Units 42
Built 2013
Metering Individual
Total SF 27,156
Average Unit SF 647
Parking 39 Garage, 3 Surface
Type of Buildings Three-Story
Units 22 plus 4,988 SF of Retail Space
Built 2013
Metering Individual
Total SF 18,528
Average Unit SF 615
Parking 24 Surface
Type of Buildings Three-Story, Mixed Use
ASCENT UPTOWN PROPERTY SUMMARY
a Berkshire Hathaway and Jeffries Financial Group
CENTRAL DENVER PORTFOLIO INVESTMENT HIGHLIGHTS
The OpportunityEmerson Lofts, located in central Denver’s Capitol Hill neighborhood, represents a rare opportunity to purchase a newly constructed, mid-size apartment building in one of Denver’s finest locations. Ascent Uptown, located in central Denver’s Uptown neighborhood, is also a recently constructed, smaller apartment building with a blend of main-level retail. The combined investment opportunity allows a new investor to own 64 upscale apartment units and 4,988 square feet of prime retail space, which is occupied by two longer term tenants.
Emerson Lofts Neighborhood DescriptionEmerson Lofts is located in Denver’s Capitol Hill neighborhood, the city’s most densely populated neighborhood. Home to the Colorado State Capitol, the area is home to an eclectic blend of galleries, fine-art studios, museums, restaurants, nightclubs, music venues, and coffeehouses. The property is situated just south of downtown Denver, home to nearly 133,480 jobs with more than $2.2 billion of new development in the pipeline. Major employers near the property include Denver Health’s main campus, the Gates Corporation’s headquarters, and Anthem Blue Cross and Blue Shield, who combine to support approximately 8,200 jobs.
Ascent Uptown Neighborhood DescriptionAscent Uptown is located in Denver’s vibrant Uptown neighborhood, home to the popular “Restaurant Row” featuring a wide array of coffee shops, restaurants, bars, and boutiques. Considered one of the trendiest places to live in Denver, Uptown offers easy access to downtown’s core, attracting young professionals who desire an urban environment. The property is strategically located less than one mile from City Park, which is Denver’s premier regional park encompassing the Denver Zoo, the Denver Museum of Nature and Science and IMAX, sports fields, and green spaces. Major employers near Ascent Uptown include Saint Joseph Hospital, Presbyterian / St. Luke’s Medical Center, the Gates Corporation, and Wells Fargo.
Elan Meadowwoods at Alpine Elan Summit at Alpine
Units 22 plus 4,988 SF of Retail Space
Built 2013
Metering Individual
Total SF 18,528
Average Unit SF 615
Parking 24 Surface
Type of Buildings Three-Story, Mixed Use
DENVER OFFICE | 1331 17th Street, Suite 550, Denver, CO 80202 | Phone: 303.607.0025 | Fax: 303.607.9024 | Berkadia.com
INVESTMENT ADVISORS
Berkadia®, a joint venture of Berkshire Hathaway and Jeffries Financial Group, is an industry leading commercial real estate company providing comprehensive capital solutions and investment sales advisory and research services for multifamily and commercial properties. Berkadia® is amongst the largest, highest rated and most respected primary, master and special servicers in the industry.
Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. makes no warranty or representation about the content of this brochure. It is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. The presence of molds may adversely affect the property and the health of some. If you have questions or concerns regarding this issue conduct further inspections by a qualified professional.
© 2018 Berkadia Real Estate Advisors LLC Berkadia® is a trademark of Berkadia Proprietary Holding LLC. Investment sales and real estate brokerage businesses are conducted exclusively by Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. In California, Berkadia Real Estate Advisors Inc. conducts business under CA Real Estate Broker License #01931050; Vincent B. Norris, CA BRE Lic. # 843890. Berkadia Commercial Mortgage LLC conducts business under CA Finance Lender & Broker Lic. #988-0701; and Berkadia Commercial Mortgage Inc. under CA Real Estate Broker Lic. #01874116. For state licensing details visit: http://www.berkadia.com/legal/licensing.aspx
JOHN LARATTASenior Director
TYLER KINGAssociate Director
NICK STEELESenior Director
PROPERTY VISITS
Prospective buyers will have the opportunity to visit the property via pre-scheduled property tours. These tours will include access to a sampling of available units and limited access to property personnel. In order to accommodate the ongoing operations, property visitation will require a 72-hour notice. No property tours will be allowed without a scheduled appointment and prospective purchasers may not contact the property or visit the property without being accompanied by a representative from Berkadia.
The Bid Deadline will be announced to all registered Buyers two weeks following the start date of marketing. Offers should be presented in the form of a non-binding Letter of Intent, detailing the significant terms and conditions of Purchaser’s offer including, but not limited to: (1) individually allocated asset pricing, (2) due diligence and closing time frame, (3) earnest money deposit, (4) a description of the debt/equity structure, (5) an explanation of capital sources, and (6) any contingencies that may exist. Offers should be delivered to the attention of John Laratta at the email address provided herein.
BRIAN HUFFSenior Director
MATT SCHILDWACHTERSenior Director
FINANCING
BID DEADLINE AND OFFER SUBMISSION
