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Courtesy of Bell Partners
Bell Partners acquired the 500-unit AMLI at Flatirons apartment complex in Broomfield from AMLI Residential for more than $116M, a price that shows how keen investors are on Denver-area multifamily. Five years ago, when AMLI Residential bought the property, it paid not quite $79M. Under the new ownership, the community will be Bell Summit at Flatirons, and managed by Greensboro, NC-based Bell Partners, the Denver Business Journal reports.
The property was completed in 2004, and is 95% occupied. Bell is no stranger to Colorado multifamily: last year, it paid $255M for what's now called Bell Flatirons in Superior, a 1,206-unit complex. That remains a record price for a Colorado apartment property. [DBJ]
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