DENVER, CO - Atlanta-headquartered ARA, the largest privately held, full-service investment advisory brokerage firm in the nation focusing exclusively on the multihousing industry, recently brokered the sale of Broadstone Cherry Creek Multifamily Land, a +/- 1.62-acre multifamily development site located in Denver, Colorado, just west of Colorado Boulevard and north of East Alameda Avenue. ARA Colorado Senior Land Associate, Chris Cowan, and Principal, Steve O’Dell, acted as the Transaction Broker in the sale. The seller, Zeppelin Development, Inc. and Jackson Corner, LLC, sold the site to Phoenix, AZ-based Alliance Realty Partners, LLC.
Located at the southwest corner of South Harrison Street and East Cedar Avenue and the northeast corner of South Jackson Street and East Alameda Avenue, Broadstone Cherry Creek is just steps away from shopping, dining, and entertainment along the nearby premier Colorado Boulevard commercial corridor, the highly coveted Cherry Creek Mall, and the renowned Cherry Creek North District.
“This was a bittersweet sale for Zeppelin Development,” said Chris Cowan. “The local based creative space development company, founded by longtime Denver real estate developer Mickey Zeppelin and his son Kyle, has labored over this site for the last several years beginning with the development of the GREENhouse condominiums and had intended to see the large site developed under their vision; however, given their recent focus on the TAXI and FREIGHT developments just north of downtown Denver, Alliance Residential was able to take the Zeppelin inspired plan and implement a community that not only compliments the Cherry Creek neighborhood but also appeals to the family-centric minded renter that is burgeoning in Denver.”
“Alliance Residential, headed by their local partner Andy Clay, will have a new community with a lot of buzz bringing a new concept to one of the most desirable neighborhoods in metro Denver.”
To schedule an interview with an ARA executive regarding this transaction or for more information about ARA, please contact Lisa Robinson at lrobinson@ARAusa.com or 678.553.9360, or Amy Morris at amorris@arausa.com or 678.553.9366; locally, Chris Cowan at cowan@ARAusa.com, or Steve O’Dell at odell@ARAusa.com, or 303.260.4400.
About ARA
Atlanta-headquartered ARA is the largest privately held, full-service investment advisory firm in the nation that focuses exclusively on the brokerage, financing and capital sourcing of multihousing properties including conventional, affordable, distressed assets, notes sales, seniors, student & manufactured housing and multihousing land. ARA is comprised of the country’s top investment professionals who leverage a unique and fully integrated cooperative business platform of shared information, relationships and technology driven solutions. ARA’s unified enterprise approach ensures that clients are delivered the broadest asset exposure, effective matching of buyers and sellers, and the shortest transaction timeframes in the industry. The combination of resources, unparalleled market expertise and nationwide presence in the multihousing marketplace has resulted in average annual production volume of $5.5 billion in real estate transactions since 2005. For detailed information on ARA’s extensive multihousing investment services, visit www.ARAusa.com