May 20, 2020 Comments (0) Views: 488 Phoenix & Southwest News, Southwest News

California Investor Claims Broomfield MF for $90M

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California-based Oakmont Properties acquired Fusion 355, a 286-unit multifamily property in Broomfield, CO, from Stockton, CA-based AG Spanos for $90 million. The property at 355 Eldorado Blvd. was 85% leased.

Built in 2019, the community consists of a mix of upscale apartments and townhome-style units with in-unit washer and dryer, ceiling fans, storage units, vaulted ceilings, and hardwood flooring. The controlled access, smoke-free community has a 24-hour fitness center, yoga studio, dog park, media and game rooms, elevator access, bike storage, heated pool with spa and Baja deck, community garden, 400 parking spaces, and private garages.

CBRE’s Marc Ross represented the buyer. CBRE’s Dan Woodward, David Potarf and Matt Barnett represented the seller.

Woodward says, “The sale of Fusion 355 is an example of the continued trend of investment capital migrating to Denver from coastal markets in search of slightly higher yields and a stable political and tax environment.”

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