Multifamily Real Estate Investment Opportunity - (Denver MSA)
We are acquiring a first-class apartment community in Lakewood, Colorado, called the Windsor (the "Property") directly from the seller in an off-market transaction. The purchase price is $125 million ($320 PSF), representing a 5.67% cap rate. We are looking for other families that want to partner and co-invest with our firm, Brixton Capital.
This is an institutional quality asset that is differentiated from comparable properties because of its low density (12 units/acre), 1,115 average SF units, direct access garages, and well-kept grounds and green spaces. The Property offers residents home-style living at apartment rents and direct access to outdoor amenities like the Bear Creek trail system.
We are buying this property from a pension fund that has decided to sell this asset (among five others) due to liquidity needs. The seller brought the deal directly to Brixton to facilitate a quick and guaranteed closing. Brixton negotiated a purchase price of $125 million ($320 PSF), $190 PSF lower than the weighted average PSF of the comparable properties.
This investment opportunity provides stable cash flow and compelling risk-adjusted returns. We expect this deal to yield a 16-18% IRR, 1.9 - 2.1x equity multiple, and an average cash on cash of 4.0 - 5.0%. Please keep the presentation confidential.
Brixton Capital (“Brixton”), is a privately held commercial real estate investment company headquartered in Solana Beach, CA. With an unprecedented track record of successful real estate investing spanning four decades, over 900 properties representing $10 billion of asset value, and virtually zero losses, Brixton and its principals have consistently achieved outstanding returns across multiple real estate cycles.
Brixton was officially formed in 2012 as the opportunistic real estate investment vehicle of the Marc Brutten family office, which has been opportunistically investing for many decades.