Riverpoint Partners, CentrePoint Properties Buy Brix on Belleview Apartments in Colorado for $29.9M
by Amy Works
REBusinessOnline
ENGLEWOOD, COLO. — Riverpoint Partners and CentrePoint Properties have acquired Brix on Belleview, an apartment community located in Englewood. An undisclosed seller sold the asset for $29.9 million.
Located at 175 W. Belleview Ave., Brix on Belleview was built in phases between 1962 and 1971. The multifamily property features 175 units in a mix of studio, one-, two- and three-bedroom layouts. The 117,580-square-foot asset features 11 buildings and 206 parking spaces.
Over the past five years, the property underwent more than $1.5 million in capital improvements, including new roofs, boilers and ground-up office/clubhouse; an extensive pool area remodel; exterior paint with new metal façades; a resurfaced parking lot; improved exterior lighting; and new barbecue grills, signage and windows.
Dan Woodward, David Potarf, Matt Barnett and Jake Young of CBRE’s Denver office represented the seller in the transaction.