Lakewood Apartment Complex Sells For $38.5M

LAKEWOOD, CO -- A 1970s-era apartment complex in the Bear Creek neighborhood changed hands this week for $38.5 million. The 201-unit Ranch at Bear Creek complex at 3324 South Field St. was sold by Larkspur, California-based Aukum Group to New York-based Castle Lanterra Properties, Denver Business Journal reported this week.

New York's HFF made the announcement.

The property features townhomes and flats and, half the units have been remodeled. There's also a pool, fitness center and clubhouse.

Rents average $1,289 – 1,482 a month for a two-bedroom unit and $1,866 for a three-bedroom, according to local real estate websites.

Read more at Denver Business Journal

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