The Artisan Townhomes & Apartments complex at 10025 E. Girard Ave. in Denver sold for $77.3 million. (Google Maps)
A southeast Denver apartment complex has changed hands.
Bridge WF CO Artisan LLC purchased The Artisan Townhomes & Apartments at 10025 E. Girard Ave. last week for $77.3 million, according to county records.
The purchasing entity lists an address that matches that of Utah-based Bridge Investment Group.
According to its website, the company owns six other properties in the Denver metro area, including office building Denver Corporate Center at 7800 E. Union Ave. and apartment complex Esprit Cherry Creek, which the company purchased last fall for $93 million.
The complex was sold by Denver-based BMC Investments and California-based Oak Coast Properties, which purchased it in February 2016 for $50.84 million, records show — a 46 percent gain in 3 1/2 years. Brokers Terrance Hunt and Shane Ozment of Newmark Knight Frank represented the seller.
The complex has 434 units, according to BMC’s website, meaning the sale last week works out to $178,110 a unit.
BMC, led by Matt Joblon, is more known for its Cherry Creek development efforts than its multifamily holdings. But earlier this year, the company and Oak Coast paid $177 million for three apartment complexes in unincorporated Arapahoe County.
The Artisan Townhomes & Apartments complex at 10025 E. Girard Ave. in Denver sold for $77.3 million. (Google Maps)
A southeast Denver apartment complex has changed hands.
Bridge WF CO Artisan LLC purchased The Artisan Townhomes & Apartments at 10025 E. Girard Ave. last week for $77.3 million, according to county records.
The purchasing entity lists an address that matches that of Utah-based Bridge Investment Group.
According to its website, the company owns six other properties in the Denver metro area, including office building Denver Corporate Center at 7800 E. Union Ave. and apartment complex Esprit Cherry Creek, which the company purchased last fall for $93 million.
The complex was sold by Denver-based BMC Investments and California-based Oak Coast Properties, which purchased it in February 2016 for $50.84 million, records show — a 46 percent gain in 3 1/2 years. Brokers Terrance Hunt and Shane Ozment of Newmark Knight Frank represented the seller.
The complex has 434 units, according to BMC’s website, meaning the sale last week works out to $178,110 a unit.
BMC, led by Matt Joblon, is more known for its Cherry Creek development efforts than its multifamily holdings. But earlier this year, the company and Oak Coast paid $177 million for three apartment complexes in unincorporated Arapahoe County.
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