Northmarq completes $94 million sale of Links at Legacy Ridge in Westminster, Colorado
DENVER, COLORADO (July 11, 2022) – Dave Martin and Brian Mooney of Northmarq’s Denver investment sales team listed and completed the sale of the Links at Legacy Ridge Apartments, a 232-unit multifamily property located at 2710 Bruchez Parkway in Westminster, Colorado. NorthMarq represented the seller, Seagate Legacy Associates, LLC. The property was acquired by MIG Real Estate.
Completed in 1999, the property is spread across almost thirteen acres roughly equidistant to Boulder and Denver and offers residents access to significant community amenities including a resort-style-pool, clubhouse, and fitness center.
“We see significant long-term opportunity in adding Links at Legacy Ridge to our growing metro Denver portfolio, driven by the region’s sustained population growth, continued influx of tech companies and new development that promises to attract even more jobs to the region,” says Clark Cannon, who oversees MIG’s multifamily investments in the region. “Westminster and surrounding neighborhoods will continue to benefit as renters look to the suburbs for more space, relative affordability and easy commutes within a vibrant and growing market.”
“This is one of the classic ‘barriers-to-entry’ western submarkets in the Denver Metro area, and as residents are priced out of neighborhoods closer to downtown, the Westminster submarket is seeing considerable rent growth, which is particularly true for assets like Links at Legacy Ridge” said Martin, adding “given their platform and expanding Denver portfolio, MIG is uniquely positioned to take full advantage of the opportunity, and we’re excited to see them implement their vision for the asset”.
Links at Legacy Ridge offers an array of studio, one, two and three-bedroom floor plans, with nine-foot ceilings, walk-in closets, patios/balconies, and full-size washers/dryers in every unit. What makes Links at Legacy Ridge a compelling opportunity is that while prior ownership completed prudent exterior renovations, over 200 of the unit interiors are in need of a full renovation.
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Northmarq is a full-service capital markets resource for commercial real estate investors, offering seamless collaboration with top experts in debt, equity, investment sales, loan servicing, and fund management. The company combines industry-leading capabilities with a flexible structure, enabling its national team of experienced professionals to create innovative solutions for clients. Northmarq's solid foundation and entrepreneurial approach have built an annual transaction volume of more than $39 billion and a loan servicing portfolio of more than $76 billion. Through the 2022 acquisition of Stan Johnson Company and Four Pillars Capital Markets, Northmarq established itself as a provider of opportunities across all major asset classes. For more information, visit: www.northmarq.com.
