Sage Brook

Posted: 6/29/2011
SOLD
216 Units
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About

About Sage Brook

C&W of Colorado is please to announce the exclusive listing of Sage Brook Apartments, a 216-unit apartment community in Denver, Colorado. Sage Brook Apartments is a fully amenitized class B asset only five miles from downtown Denver and just east of Cherry Creek. The community is strategically located just minutes from the Denver Tech Center (DTC), Fitzsimons Life Science District, and the Lowry redevelopment area. Situated between several major highways including I-25, I-225, and I-70, residents enjoy a suburban lifestyle while maintaining access to Denver Metro’s myriad of dining, entertainment and retail options. Major renovations throughout the property were completed in 2007; however the improving marketplace makes Sage Brook attractive for both the value-add or long term investor. THE STORYStrong Property Characteristics: Park-like grounds with mature trees, well-appointed fitness center and heated swimming pool accompanied by a full amenity package. • Market Fundamentals: Denver is enjoying strong employment and rental growth that is forecasted to continue over the next several years. • Strategic Location: Centrally located within the Metro Denver Area at Leetsdale Dr. and Quebec St. with a high traffic count of 19,837 CPD. • Excellent Submarket Drivers: Sage Brook is just minutes from the Cherry Creek Retail District, the Cherry Creek Mall, the Lowry Redevelopment Area and the Fitzsimons Life Science District. • Minimal capital needs: Full unit interior renovations including: new appliances, countertops, flooring, hardware, refurbished cabinets, along with new exterior finishes and amenity package. • Value Creation Opportunity: Fully renovated in 2007, the property can benefit from further improvements that take advantage of the high drive by traffic as well as Denver Metro’s continued growth. The property is being offered "free and clear" at a price of $15,100,000, representing $69,907 per unit or $98 per square foot.