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Embrey Partners Buys Land in Jefferson County for 345-Unit Luxury Apt. Project

Westerly Apts. Will Be Built on 21 Acres Near Kipling and C-470
February 26, 2018
Embrey Partners will build a new luxury apartment complex in Jefferson County after purchasing 21 acres at the southwest corner of C-470 and Kipling Blvd.

San Antonio, TX-based Embrey Partners will build the 345-unit Westerly Apts. following the purchase earlier this month at 8600 S. Oak Way in unincorporated Jefferson County.

The parcel of land is located adjacent to the Jefferson Corporate Center, a nearly 68,000-square-foot office park owned by Captiva Investments Inc.

CBRE Group Inc.’s land services team represented the seller, Land Securities Investors, in the land deal.

"This project is a great addition to the Jefferson Corporate Center and adds a mixed-use component that is synergistic to the existing commercial buildings and tenants," said Eric Roth, senior vice president with CBRE Land Services. "Given the luxury nature of the planned product and Embrey’s reputation as a ‘top-tier’ developer, we expect this transaction will foster additional momentum and interest in the last 20 acres available for development at the location."

Documents on file with the Jefferson County Planning Department indicate that the garden-style apartment complex has been in the works since last spring. Building permits for the project were issued just after the land deal closed, on Feb. 7.

A representative for Embrey Partners did not respond to a request for comment.

Embrey is the developer on several projects around metro Denver, including Luxe at Mile High, Arvada Station and Escape at Ken Caryl.

CBRE's Marty Roth also represented Land Securities Investors in the deal.

Molly Armbrister, Denver Market Reporter  CoStar Group   
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