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Jon D. Bell Of Bell Partners Acquires 400-Unit Multifamily Asset In Parker For $133M
SOLD
$133,000,000
Colorado
See Similar DealsMultiFamily
Sold 07/03/2025
SOLD
Jon D. Bell Of Bell Partners Acquires 400-Unit Multifamily Asset In Parker For $133M
18301 Cottonwood Drive
See Similar DealsMultiFamily
Sold 07/03/2025
Summary
COLORADO
Asset Type:MultiFamily
Transaction Type:Sale
The property involved in this transaction is the Montane Apartments, a multifamily asset located at 18301 Cottonwood Drive in Parker, Colorado. The property consists of 400 units and was sold for a total of $133,000,000, which translates to a price per unit of $332,500.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $133,000,000
- Units: 400
- Price Per Unit: $332,500
- Buyer: Jon D. Bell - Bell Partners
- Seller: Daniel Drimmer - Starlight Investments
- Financing: $84.94M Freddie Mac loan arranged by JLL
This transaction involved key industry figures including Jon D. Bell, representing Bell Partners as the buyer, and Daniel Drimmer of Starlight Investments as the seller, underscoring the active role of established companies in the multifamily real estate sector.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$7,093,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$472,520.92
Cash-on-Cash Return-1.27%
Monthly Debt Service$630,487.85
Annual Debt Service$7,565,854.24
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