Deer Crest Apartments in Broomfield sells for $55M

BROOMFIELD — Colorado Springs-based Griffis/Blessing Inc. has acquired the 286-unit Deer Crest Apartments in Broomfield for $55 million from Fairfield Cedarcrest LP, based in San Diego.

Cedarcrest bought the apartments in 2004 for $22 million, according to public records.

Built in 1984, Deer Crest Apartments is a garden-style community on 14 acres at 2200 W. 10th Ave., midway between Boulder and Denver on U.S. Highway 36. The community has one- and two-bedroom floor plans, averaging 883 square feet. Amenities include a dog park, seasonal pool and spa, fitness area and private patios/balconies. Select apartments have detached garages and skylights.

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ARA Newmark served as the listing broker, and Brady O’Donnell with CBRE arranged the mortgage.

Griffis/Blessing manages more than a million square feet of commercial space and more than 9,600 apartment units. The company has provided property management and real estate investment services since 1985.