May 10, 2016
Texas-based Embrey Partners Ltd. has acquired 15.2 acres from Alberta Development Partners to develop the 312-unit Ledges at Promenade. The complex will go north at 6200 Castlegate Dr. W., in Castle Rock, CO, near the seller’s Promenade at Castle Rock project. Chris Cowan with ARA, a Newmark Company, represented the seller.
Promenade at Castle Rock is a $177-million, 166-acre retail development that broke ground in November 2014. Retailers are expected to continue hanging their shingles through 2018.