Aurora, CO — Atlanta-headquartered ARA, the largest privately held, full-service investment advisory brokerage firm in the nation focusing exclusively on the multihousing industry, recently sold +/- 2.045-acres of land located at the southeast corner of East Quincy Avenue and South Atchison Way in Aurora, Colorado.
ARA Colorado principals, Steve O’Dell and Chris Cowan, represented the seller, two local private investors, and the buyer, Anthem Memory Care, as a transactional broker. Anthem Memory Care purchased the parcel for $850,000 or $2.06 per square foot.
Chris Cowan explained, “Anthem Memory Care is planning on building a 54-bed seniors community focused on seniors living with Alzheimer’s and dementia. One of Anthem Memory Care’s first facilities is located in nearby Littleton and they are very excited to expand their footprint in the Denver metro area. The aging demographic in the surrounding area make this use a complementary fit.”
The Quincy and Atchison site is located within a transitional zoning area between dense residential, the retail corridor along S. Parker Road and a short walk from Cherry Creek Reservoir and State Park. The easy access of a major thoroughfare combined with the neighborhood-like setting on three sides of the property uniquely qualified the parcel for a senior housing use.
To schedule an interview with an ARA executive regarding this transaction, please contact Lisa Robinson at [email protected] or 404.990.4900, or Amy Morris at [email protected] or 404.990.4902; locally, Chris Cowan at [email protected], or Steve O’Dell at [email protected], or 303.260.4400.
Atlanta-headquartered ARA is the largest privately held, full-service investment advisory firm in the nation that focuses exclusively on the brokerage, financing and capital sourcing of multihousing properties including conventional, affordable, distressed assets, notes sales, seniors, student & manufactured housing and multihousing land. ARA is comprised of the country’s top investment professionals who leverage a unique and fully integrated cooperative business platform of shared information, relationships and technology driven solutions. ARA’s unified enterprise approach ensures that clients are delivered the broadest asset exposure, effective matching of buyers and sellers, and the shortest transaction timeframes in the industry. The combination of resources, unparalleled market expertise and nationwide presence in the multihousing marketplace resulted in an annual production volume of $9.5 billion in real estate transactions in 2012. For detailed information on ARA’s extensive multihousing investment services, visit www.arausa.com.