California Company Buys Broomfield Apartments for $91 million

A 288-unit apartment complex in Broomfield was bought last week by a Sacramento-based property management company for $90.72 million, according to the Broomfield Enterprise.

The California company will now be adding the Broomfield apartments to their several holdings in Colorado.

According to a press release from CBRE’s Denver office, the Indiana-based developer Garrett Cos. LLC sold the complex, which is located at 13872 Del Corso Way, to FPI Management Inc. on April 28 in a deal that added up to about $315,000 per unit.

Broomfield Enterprise reports that FPI owns "16 apartment complexes along the Front Range, including the Affinity-branded apartments in Fort Collins, Loveland, Lafayette and Colorado Springs, as well as Copper Peak apartments in Longmont and the Caliber at Hyland Village complex in Westminster."

Source: Broomfield Enterprise