NorthMarq completes $142 million sale of Outlook Clear Creek in Wheat Ridge, Colorado

Outlook Clear Creek
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DENVER, COLORADO (December 7, 2021) –Dave Martin and Brian Mooney of NorthMarq’s Denver investment sales team listed and completed the sale of the Outlook Clear Creek Apartments, a 310-unit multifamily property located at 4040 Clear Creek Drive in Wheat Ridge, Colorado. NorthMarq represented the seller, Evergreen DevCo, Inc. The property was acquired by Seagate Colorado Partners, LLC.

“Outlook’s location enjoys a singular advantage as it straddles three of metro Denver’s most supply constrained submarkets in Wheat Ridge, Golden and Lakewood” said Martin, adding “given their intimate knowledge of the market and local operational expertise, it was natural that Seagate saw the intrinsic value of this deal”.

Completed in 2021, Outlook Clear Creek is the catalyst development within the burgeoning 110-acre Clear Creek Crossing mixed-use development. Situated at the southwest quadrant of Highway 58 and Interstate 70, Clear Creek Crossing is the western suburb’s newest live-work-play community anchored by the SCL Health Lutheran Medical Campus, which is scheduled for completion in 2024.

“Outlook Clear Creek is purposely built in a severely supply constrained area” said Jeff Wikstrom, Principal, Regional President at Evergreen, who developed the asset. Wikstrom added that “virtually the only way to add much needed housing in this area is to create sites the way we did through a complex and lengthy master-planning process”.

“We see a significant opportunity in adding Outlook Clear Creek, now rebranded as Clear Creek Crossing Apartments, to our Colorado portfolio, particularly with the new health care facility being constructed next door” said Trent Isgrig, Principal at Seagate, who oversees multifamily investments in the region.

Clear Creek Crossing offers one and two-bedroom floor plans in an array of two and four story buildings. The property is spread across 12.5 acres and offers one of the largest outdoor pool/recreation areas in all of metro Denver. Units feature picket backsplashes in the kitchen, deep farm undermount sinks, spacious closets and walk-in showers. Impressive outdoor experiences run throughout the community, including being trailside to Clear Creek itself where gold was first discovered in the Front Range.

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, Northmarq established itself as a provider of opportunities across all major asset classes. For more information, visit www.Northmarq.com.

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