Bell Partners Sells Summit at Flatirons Apartments Near Denver to Treeline Multifamily for $154M
BROOMFIELD, COLO. — Bell Partners has completed the sale of Summit at Flatirons Apartments, a multifamily property located at 210 Summit Blvd. in Broomfield, a suburb of Denver. An affiliate of Treeline Multifamily Partners acquired the asset for $154 million.
Jordan Robbins and Pamela Koster of JLL represented the seller in the deal. Additionally, Josh Simon and Rob Bova of JLL secured a seven-year, $103 million Freddie Mac acquisition loan for the buyer. JLL Real Estate Capital, a Freddie Mac Optigo lender, will service the loan.
Built in 2004, Summit at Flatirons features 500 one- and two-bedroom apartments. In 2016, the property underwent more than $13 million in unit and common-area renovations, including upgrading units with stainless steel appliances, new vinyl plank flooring, quartz countertops, new lighting, repainted hallways, relocation of the fitness center and yoga studio, upgraded equipment and bike storage. Additional community amenities include a business lounge, swimming pool, hot tub, barbecue areas, resident lounge and courtyard.