Apartment complex in Superior sells for $250 million

SUPERIOR — Bell Partners Inc. of Greensboro, N.C., has purchased the Horizons at Rock Creek apartment complex in Superior for $250 million, the company announced Monday.

Bell Partners purchased the 1,206-unit complex from Denver-based Simpson Housing LLLP and has renamed it Bell Flatirons.

The complex, at 2200 S. Tyler Drive, was built in multiple phases between 1997 and 1999 by Simpson Housing. It is one of the largest multifamily communities in the Denver metro area and is made up of three phases: Watters Edge, Prairie’s End and Cross Creek. Watters Edge has 586 units of mostly townhomes and apartments with one- and two-car attached garages. Prairie’s End has 360 units, and Cross Creek has 260 units, each with its own garage.

The cornerstone of the community’s resort style amenities is its 24,000-square-foot clubhouse with an indoor basketball court, two racquetball courts, a movie theater, and a large fitness room. The community also has a beach, a fishing pond, four pools and multiple fire pits.

“This acquisition is a great addition to our portfolio, and we expect it to be a solid investment for our investors,” Jon Bell, president of Bell Partners, said in a prepared statement.

The purchase of Bell Flatirons was the third multifamily acquisition for the company in 2015. With this transaction, Bell has completed more than $355 million in apartment acquisitions this year. In 2014, Bell completed more than $2.6 billion in total apartment transactions.