Summit Management Services Buys Stonegate Apartments in Colorado for $86M
BROOMFIELD, COLO. — Summit Management Services has acquired the 350-unit Stonegate apartments in Broomfield for $86 million. The community is located at 11815 Ridge Parkway, halfway between Denver and Boulder.
The property is just west of Interlocken Business Park, which is northwest Denver’s most prominent office park with more than 4 million square feet of office space, and Flatiron Crossing, which comprises more than 2 million square feet of retail, dining, hotel and entertainment options.
Stonegate’s community amenities include a resort-style swimming pool, hot tub, grilling area, playground, dog park, 24-hour fitness center, resident lounge with full kitchen and fireplace, and views of the Rocky Mountains. The property is 95 percent occupied.
HFF’s Jordan Robbins and Jeff Haag represented the seller in this transaction.