Halaby Capital Sells Class B Willowbrook Apartments for $12M

Halaby Capital sold Willowbrook Apartments, a 95-unit, Class B apartment complex in Westminster, CO. The buyer, Denver-based Summit Communities, paid $11.7 million for the asset on 7155 Raleigh St. Colliers International’s Bill Morkes and Craig Stack represented the seller, which is also headquartered in Denver.

“We received over 10 offers from investment groups headquartered across the U.S.” Morkes said. “The Denver suburban market has been extremely strong over the last 10 years, and national investors are aggressively competing to win value-add deals.” Added Stack: “The seller successfully executed their business plan and the buyer bought a centrally-located property, in a thriving Denver suburb, with the opportunity to execute a unit renovation program.”

Willowbrook Apartments opened in 1973, with studio and one-bedroom floor plans. On-site amenities include laundry facilities, a pet park and swimming pool.

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