SOURCE: Wood Partners

Wood Partners

January 08, 2015 14:51 ET

Wood Partners Sells Alta Harvest Station in Broomfield, Colo. to Asher Investments

Fully Stabilized 297-Unit Garden Apartment Community Is 93 Percent Leased

BROOMFIELD, CO--(Marketwired - Jan 8, 2015) - Wood Partners, LLC announced it has sold Alta Harvest Station, a 297-unit garden apartment development at the southeast corner of Wadsworth Boulevard and 118th Avenue in Broomfield, to Littleton, Colorado-based Asher Investments. The LEED Silver-certified community, which opened for leasing last winter is now stabilized at 93 percent leased.

"Alta Harvest Station represents a great collaboration with the City of Broomfield who worked closely with us to rezone the site to allow multifamily housing," said David Jaudes, Development Associate for Wood Partners. "The project is also adjacent to the US 36 Bus Rapid Transit, an important component of FasTrack often overlooked."

The 13.75-acre gated community is modeled after Wood Partners' popular Alta Aspen Grove (now Berkshire Aspen Grove), a 280-unit, garden-style, eco-friendly and transit-oriented community in Littleton. Wood Partners also developed Alta City House which recently opened in Union Station, as well as Alta Cherry Hills which opens this Spring. 

Alta Harvest Station includes 13 buildings housing 175 one-bedroom units, 107 two-bedroom units and 15 three-bedroom units averaging 940 square feet; 611 parking spaces and 145 private attached garages. Amenities include a resort pool, outdoor fireplace, great lawn courtyard, dog park and wash, bicycle / ski repair shop, plaza with seating and water features, state-of-the-art fitness center, yoga/serenity room and business center. 

Job growth in the nearby Interlocken/Broomfield business hub is strong, and Alta Harvest Station residents have access to a new pedestrian bridge over the Boulder Turnpike that provides easy access to the 1STBANK Center and a variety of retail stores, offices and transit options. 

Wood Partners dedicated 1.4 acres as public land, part of which was developed into a one-acre pocket park near Wadsworth and 118th Avenue. A half-acre urban trail along the east and south edges of the development connects to the planned future light rail stop and a pedestrian route to and from the RTD Regional Transit Station at West 116th Avenue.

Wood Partners was the general contractor, Dallas-based Womack Hampton was the architect and HKS was the civil engineer.

About Wood Partners
Wood Partners is a national real estate company that acquires, develops, constructs and property manages high density and mixed-use communities. It ranks consistently among the top five multifamily developers in the country. Through quality construction, responsible land development and intelligent design, our communities reflect the aesthetic and social fabric of the community and provide a luxurious living experience at a fair price. The company has been involved in the acquisition and development of more than 53,000 homes with a combined value of more than $8.3 billion nationwide. The company currently owns more than 75 properties with a combined total of 21,000+ units. Wood Partners has offices in 18 major markets nationwide including Atlanta, Austin, Baltimore, Delray Beach/South Florida, Boston, Charlotte, Chicago, Dallas, Denver, Houston, New York, Southern California, Orlando, Phoenix, Raleigh-Durham, San Francisco, Seattle, and Washington, D.C. To learn more about Wood Partners, please visit our website, www.woodpartners.com.