Apartment community sells for record $255 million

03 May 2015 | Posted in Multifamily, Boulder County & U.S. 36 Corridor
         To say that Bell Partners first apartment community purchase in the Denver area was a big one, would be an understatement.

         Bell Partners, based in Greensboro, North Carolina, paid a record  $255 million for a Denver-area apartment community with its recent acquisition of the Horizons at Rock Creek apartment community in Superior, according to public records.

         It is not only the most ever paid for an apartment community in the Denver area, but also apparently is the fourth most expensive property ever purchased in the metro area,

         According to research by ARA Newmark, which handled the sale on behalf of Denver-based Simpson Housing, only three properties have ever sold for more.

         They are:

• The Wells Fargo Center, known as the “Bank Register” building at 1700 Lincoln, St., which is 2012 sold for $387 million;
• The FlatIron Mall in Broomfield, which in 2012 sold for $323 million;
• And the Park Meadows Mall in Lone Tree, which in 1998 sold for $270 million. (The Park Meadows Mall was sold again in 2004 as part of a $12.6 billion portfolio purchase by General Growth Properties, but a new deed wasn’t recorded).