Oak Coast Properties, BMC Investments Buy St. Mortiz Apartments in Metro Denver for $78M
LAKEWOOD, COLO. — Oak Coast Properties and BMC Investments have acquired St. Mortiz Apartments, a multifamily property located adjacent to the Colfax Retail Corridor in Lakewood, a suburb of Denver. The partnership acquired the property for $78 million.
Built in 1986, St. Mortiz Apartments features 360 units, a dog park, pool and spa, gas fire pits, fitness center, basketball court, putting green and business center. The buyers plan to renovate the community, including the common areas and amenities.
BLDG Management will manage the property.
Charles Halladay, Brock Yaffe and Rick Salinas of HFF’s debt placement team assisted in securing a $55 million acquisition loan for the buyers through Freddie Mac’s CME Program. Shane Ozment of ARA Newmark in Denver represented the buyers in the deal.