BMC Investments, Oak Coast Properties Buy Timber Lodge Apartments Near Denver for $40.5M

THORNTON, COLO. — A joint venture between BMC Investments and Oak Coast Properties has purchased the 390-unit Timber Lodge Apartments in Thornton for $40.5 million. The asset is located nine miles north of downtown Denver.

Timber Lodge was built in 1972. It has recently undergone a $6.9 million capital improvement program that renovated many of the units. The community is currently 94 percent occupied.

HFF’s Brock Yaffe and Charles Halladay assisted in securing a $13.8 million supplemental loan for the buyer through Freddie Mac’s CME Program. HFF will service the securitized loan.