Castle Rock apartment up for sale

Press release
Posted 9/3/11

Two apartment communities in the Metro Denver market are offered for sale. The properties are The Bluffs at Castle Rock in Castle Rock and Center …

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Castle Rock apartment up for sale

Posted

Two apartment communities in the Metro Denver market are offered for sale. The properties are The Bluffs at Castle Rock in Castle Rock and Center Pointe East in Aurora. They consist of 428 dwelling units in total.

The properties are part of a national multi-housing portfolio of 20 properties and 3,241 units in seven states: CA, CO, TX, FL, VA, GA & SC. The properties are offered for sale through receivership.

The properties are available individually or collectively. The sale is directed by Robert Schrader, the court-appointed receiver. The portfolio is under management by The Hayman Company. Occupancies range from stabilized to value-add. The properties are being offered free and clear of debt obligations.

CBRE is the exclusive disposition advisor that is marketing the portfolio. The CBRE team is represented locally by David Potarf, Dan Woodward and Jordan Robbins. According to Potarf, "both properties offer the investor the opportunity to buy newer, class "A" properties in a rapidly improving Denver market"

Bids are due on September 14. The assets are offered unpriced; pricing will be determined by the market.

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