HFF announces $38.5M sale of Ranch at Bear Creek in Lakewood, CO

Jordan Robbins

DENVER, CO –– Holliday Fenoglio Fowler, L.P. (HFF) announces the $38.5 million sale of Ranch at Bear Creek, a 201-unit apartment community in Lakewood, Colorado.

The HFF team marketed the asset exclusively on behalf of the seller, Aukum Group, and procured the buyer, Castle Lanterra Properties.

Ranch at Bear Creek is located at 3324 South Field Street in the Bear Creek area of Lakewood, one of Denver’s most sought-after western suburbs.  The property features a unique blend of both standard flat-style units along with spacious two- and three-bedroom, two-story townhomes.  

Originally constructed in 1973, Ranch at Bear Creek has recently undergone significant capital improvements, including an updated pool area, new outdoor lounge with fire pit, newly built fitness center, full renovation of the existing clubhouse and upgrades to 63 percent of the residential units. 

Jeff Haag

In addition to community amenities, residents also have access to an abundance of recreational amenities in the surrounding area such as Bear Creek Trail, Bear Creek Lake Regional Park, Chatfield State Park and Red Rocks Park and Amphitheatre, as well as access to four top-rated golf courses within a two-mile radius.

The HFF investment advisory team representing the seller included managing director Jordan Robbins and directors Jeff Haag and Anna Stevens.

“Half of the Ranch at Bear Creek’s unit count consists of large townhome units, which distinguishes it from other communities in the area,” Robbins noted.  “This unique feature combined with very limited current and future apartment development in the submarket generated a great deal of interest from a large investor pool.”

Anna Stevens

Aukum Group (formerly Aukum Management) is a private real estate investment company focused on apartments in the western United States. The company partners exclusively with private accredited investors and select private equity funds.

Aukum has acquired approximately 4,850 apartment units since its founding in 2009, and is actively managing a portfolio of over 4,000 units valued at over $750 million.  Aukum is actively selling and acquiring new assets in select western markets.

For more information, please contact:

OLIVIA HENNESSEY

HFF Public Relations Specialist

(713) 852-3500

ohennessey@hfflp.com

Tucker Development Announces Promotion and New Hire

Charles A. Jerkovich

CHICAGO, IL – Tucker Development  announced the promotion of Aaron M. Tucker to chief investment officer, from vice president and general counsel, and the hiring of Charles A. Jerkovich, who has been appointed vice president of asset management and acquisitions.

Tucker joined the firm in 2015 after previously practicing commercial real estate law with Kirkland & Ellis LLP, where he concentrated his efforts on development, financing and leasing matters.

Aaron M. Tucker

As chief investment officer, he will manage all investment and development activity for Tucker and its affiliates throughout the Midwest and East Coast, overseeing financial analysis, project design, construction management, leasing strategy and asset management.

Jerkovich joins Tucker from WHI Real Estate Partners LP, where as vice president he focused on asset management and acquisitions. In his new role, he will bring his asset management capabilities to the Tucker portfolio and assist with sourcing, evaluating, underwriting and executing new development and investment opportunities.

“The promotion of Aaron and addition of Charles come at a pivotal time for our company as we strategically grow our portfolio through the acquisition and development of projects in highly desirable, infill locations,” said Richard Tucker, CEO of Tucker Development.

Richard H. Tucker

 “I am proud of the team we have assembled as we continue to do what we’ve always done – invest in properties that, through thoughtful planning and collaboration, complement and enhance the neighborhoods in which we do business.”

Aaron Tucker received his Bachelor of Arts in international affairs, with a concentration on internal economics, from George Washington University and Juris Doctor from Chicago-Kent College of Law. Jerkovich holds a Bachelor of Business Administration in finance from the University of Iowa.

Founded in 1996, Tucker Development is a family-owned real estate firm specializing in the investment, development and management of retail and mixed-use properties throughout the Midwest and East Coast.  To date, Tucker has acquired and developed more than 5 million square feet of real estate valued in excess of $1 billion.

For more information, please contact:

Mimi Simon, msimon@taylorjohnson.com, (312) 267-451

Abe Tekippe, atekippe@taylorjohnson.com, (312) 267-4528

  

www.tuckerdevelopment.com.