Greeley, Evans apartment complexes sell for nearly $100M combined

GREELEY and EVANS — The Ten West apartment complex near the intersection of U.S. Highway 34 and 63rd Avenue sold for $80 million, or $303,030 per unit, in a transaction recorded Dec. 1. That same day, the Arbor Garden Townhomes at 2701 Arbor Way in Evans sold for $17 million, or $212,500 per unit.

The 264-unit Ten West is a luxury complex that was completed this year. The developer, Englewood-based Saunders Commercial Development Co., sold the complex to Akron, Ohio-based real estate company Summit Management Services Inc.

Arbor Garden Townhomes consists of 80 units. It was developed in 2005 by Greeley-based Fisbeck/Sheel Construction. It sold it to Del Mar, California, company Stratford Partners, which is already heavily invested in the Front Range multifamily market; it owns four complexes in Northern Colorado and two in the Boulder Valley. 

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