Real Estate & Construction  February 22, 2017

Apex 5510 apartments in Gunbarrel sell for $75.2M               

BOULDER — Des Moines, Iowa-based Principal Financial Group (NYSE: PFG) has acquired Apex 5510, a 231-unit apartment complex in the Gunbarrel neighborhood northeast of Boulder, for $75.2 million, according to public records.

The 10-building high-end apartment complex on 8.6 acres at 5510 Spine Road was developed in 2014 by Crossbeam Concierge LLC of Bethesda, Md., in partnership with Trammell Crow Residential.

It was built by Brinkmann Constructors of Aurora. The construction process was mired by delays resulting from disputes with contractors. The project received a LEED silver certification from the U.S. Green Building Council in March 2016.

Brad Blash, co-founder and…

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