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Large Westminster, CO Multifamily Community Acquired for $150 Million
CORE Pacific Advisors acquired a 394-unit multifamily community in Westminster, Colo for $150 million. Walker & Dunlop brokered the $150 million transaction on behalf of the seller, McWhinney. The acquisition of Arbour Commons was financed through a $74.6 million Freddie Mac loan originated by Arbor Realty Trust.
Situated at 663 W. 148th Ave., the community is near interstate 25 and Northwest Parkway, which provide direct access to major employment centers such as Denver International Airport or downtown Denver.
Built in 2014, the garden-style community encompasses 19 buildings with studios, one-, two- and three-bedroom units ranging between 552 and 1,252 square feet. Common-area amenities consist of a clubhouse, spa, playground, volleyball court, fitness center and swimming pool. Arbour Commons also has enclosed and detached garages, outside storage, as well as patios or balconies in select units. Rents range from $1,500 to $3,500 a month.
- ◦Sale/Acquisition
