FOR IMMEDIATE RELEASE
San Antonio-based Embrey Partners, Ltd. has sold its Arvada, Colorado, light rail, suburban, multi-family apartment development, Arvada Station. The 16-acre, 378-unit, upscale community, located at 10068 West 52nd Place, is the third multi-family apartment project to be approved in the last 25 years in Arvada. The transaction closed in October 2013.
“We worked very closely with the city of Arvada, and the project has been extremely successful,” said Trey Embrey, president of Embrey Partners. Embrey developed, built and manages the property.
At the time of sale, the apartment community was already achieving some of the highest rents in the area. “The renter market has recognized the quality Embrey brought to Arvada Station. It’s one of the best stick-built complexes in metro Denver,” said Rich Schierburg of Peregrine Group Development, Embrey’s land partner in the project.
Jeff Hawks and Doug Andrews of ARA Brokers represented Embrey and Schierburg.
“My vision for the land was to convert a parcel that was abandoned by the state and had become eyesore to the community into a mixed use, strategically-located, dynamic, walkable, transit-oriented development,” said Schierburg. “Embrey shared that vision, and the plan was executed magnificently. It was easy to see the opportunity. And it was rewarding to make it happen.”
Located in the Denver metroplex, Arvada Station is a true transit-oriented development, or TOD, adjacent to the future Rapid Transit Denver (RTD) Gold Line expansion, which is scheduled to open in 2016. The development features near 360-degree parade views of the mountains and is situated a short, 13-minute drive to downtown Denver.
“We sit between, and high above, the new Arvada Ridge Shopping Center and the light rail stop, connecting the two with a grand stairway,” said Jeff Booth, Embrey senior managing development partner on the project.
With rich stonework and deep, earthy colors, the architectural façade ties the community to the mountain lifestyle. “It’s the way Embrey thinks about architecture that sets us apart,” said Booth. “Anybody can build living spaces that meet basic needs. We believe in creating something unique in each development…something that captures the imagination of prospective residents. We strive for continuity and connectivity with the area. At Arvada Station, we wanted to be true to the mountains, but still give it a contemporary twist.”
The apartment community offers 10 different floor plans that include carriage units, one, two- and three-bedroom apartments with upscale amenities, catering to young working professionals and those looking for a maintenance free, socially active lifestyle close to work, shopping and entertainment. A 6,937-square-foot clubhouse completes the community with a state-of-the-art fitness center, kitchen facilities, business center, game room, outdoor living rooms and patios overlooking the resort style pool. The community is adjacent to the largest outdoor and indoor recreational facility in Arvada.
About Embrey Partners
Now celebrating its 40th year, San Antonio-based Embrey Partners, Ltd., is a developer, builder and manager of market rate and affordable multi-family and commercial assets in select markets across the United States. Since 1974, Embrey has developed more than 31,000 apartments and six million square feet of commercial space. Partnering with major financial institutions, pension funds, individual investors and Fortune 500 companies, Embrey as the general partner has completed these developments for individual investment purposes and through joint venture transactions. For more information, visit online at www.embreydc.com.
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