Scandic Capital Buys Aurora Apartment Complex
San Francisco-based Scandic Capital has acquired a newly built, 140-unit apartment complex in Aurora for $40.75M.
At 15930 East Briarwood Circle, Caliber at Cornerstar was completed in 2018 and has a mix of one-, two- and three-bedroom units in three buildings on nearly 4.6 acres. The four-story property has mountain views and amenities such as a fitness center, a clubhouse and a resort-inspired pool.
“Caliber at Cornerstar was very popular with investors due to its quality construction, walkability to some of Denver's best recreation and retail destinations and short commute to the large employment base in the southeast business corridor,” said CBRE Executive Vice President David Potarf, who, along with Dan Woodward and Matthew Barnett, represented seller The Garrett Cos., a full-service multifamily development, construction and management firm based in Greenwood, Indiana.
Caliber at Cornerstar is directly east of the Denver Tech Center and near Cherry Creek State Park and Park Meadows Mall, the state’s largest shopping center. The complex is in an affluent area where household incomes are above $125K.
CORRECTION, JULY 18, 8 A.M. MT: A previous version of the story incorrectly identified the name of the buyer of Caliber at Cornerstar. The story has been updated.