11/13/2007

Hendricks & Partners sells Aurora multi-family for $15M

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Lowry Village Apartments

Irvine, Calif.-based Bascom Group has purchased the Lowry Village Apartments in Aurora, Colo., from Harrison, N.Y.-based Maxx Properties for $15 million.

Chuck Sweeney of Hendricks & Partners' Denver office represented Maxx Properties in the deal.

The complex is located 9913 E. 1st Ave. and contains 450 units - 342 one-bedroom and 108 two-bedroom. Built in 1973 on 14.39 acres, the property consists of nine, three-story buildings and is adjacent to the 1,886-acre Lowry Air Force Base.

Aurora is located approximately seven miles west of Denver.

This purchase represents Bascom's second Denver-area acquisition in recent months. The company purchased the Lakecrest at Gateway Park apartments in Denver for $51.7 million in September.

Address: 9913 E. 1st Ave., Aurora, Colo.

Size: 450 units

Built: 1973

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Filed Under: Multi-Family

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