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November 3, 2020 Comments Off on CBRE Arranges $38M Aurora, CO Townhome Deal Views: 1680 Phoenix & Southwest News, Southwest News

CBRE Arranges $38M Aurora, CO Townhome Deal

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CentrePoint Properties and CenterSquare Investment Management acquired Outlook Biscay, a 96-unit multifamily property in Aurora from Denver-based Evergreen Development for $37.5 million. Built in 2019, the Class A, for-rent townhome community is located in the Seven Hills neighborhood at 3382 South Biscay Way.

The property encompasses 20 two-story buildings offering two- and three-bedroom floor plans. Units include a two-car, direct-access garage, a private entrance, and such finishes as quartz countertops, stainless steel appliances and laundry rooms.

CBRE Capital Markets’ Jake Young, Dan Woodward, David Potarf and Matt Barnett represented the seller.

Young says, “Outlook Biscay is a unique asset offering high-quality, newly built townhomes. We saw incredible interest in this opportunity, setting one of the highest price-per-unit trades for a suburban metro Denver apartment property over the past several years. This property is well positioned for this new environment and next stage of the cycle.”

JLL Capital Markets’ Leon McBroom and Kristian Lichtenfels arranged $24.375 million in acquisition financing.

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