Broomfield apartment complex sells for $52.5 million

BROOMFIELD — A Salt Lake City-based real estate investment firm has purchased the Arista Uptown Apartments in Broomfield for $52.5 million.

Arista Uptown Colorado LLC, an entity formed by MNC Properties, a group of investors led by Jed Millburn, purchased the 272-unit apartment complex on 6.7 acres at the southwest corner of Uptown Avenue and Arista Place from CRP SJ Arista LLC, an entity formed by the apartment complex’s developer, Smith|Jones Partners of Denver, and other owners of the complex.

Construction of the apartment complex that consists of seven three-story buildings started in November 2011 and was completed in June 2013. It…