Page 6 —
COLORADO REAL ESTATE JOURNAL
— May 4-May 17, 2016
by John Rebchook
AukumManagement, a North-
ernCalifornia company that buys
value-add properties, recently
paid $32 million for the 191-unit
Sloan’s Lake apartment commu-
nity in Lakewood.
The Sloan’s Lake community
takes its name from the nearby
lake of the same name. Sloan’s
Lake is the biggest body of water
in Denver and a few minutes
from the apartment community
at 6792 W. 19th Place.
The former St. Anthony Hospi-
tal campus, just south of Sloan’s
Lake in Denver, is being devel-
oped into a mixed-use commu-
nity that will include apartments,
retail, a condo tower, for-sale con-
dos and offices.
“I think that the buyer really
liked the fact that this is a kind of
a submarket that is in transition,”
said David Potarf, who handled
the sale with fellow CBRE team
members Dan Woodward and
Matt Barnett.
“Everything kind of spilled
over from West Highland into
Sloan’s Lake and now that whole
area is going to be the next Wash-
ington Park, in my opinion,”
Potarf said.
“I think Aukum shares that
vision,” he said.
That is exactly right, according
to Jason Fuchs, who founded and
heads Aukum, which is head-
quartered just north of San Fran-
cisco.
“We see this as a very nice alter-
native to the ridiculously high
prices you pay near downtown,”
Fuchs said.
“And we just liked what is
going on in that entire area, with
all of that new development
going on at St. Anthony’s,” Fuchs
said.
“We also like its proximity to
the central business district and
light rail. Light rail is not too far
from that location,” he said.
Aukum wants to buy “value-
add opportunities only,” accord-
ing to its website.
It focuses on what it calls sec-
ondary markets in the Western
U.S., including Denver; Salt Lake
City; Portland, Oregon; and
Phoenix.
It prefers to buy low-rise, gar-
den-style properties with more
than 150 units.
It wants buildings with more
than $2 million in annual gross
revenues. Aukum prefers to
buy buildings constructed in the
1980s and 1990s.
Fuchs holds a degree in micro,
cellular and developmental biol-
ogy from the University of Colo-
rado Boulder.
“You’ve done your home-
work,” Fuchs laughed. “But my
time at CU didn’t give me any
special insights into that area. I
will say that we are very bullish
on Denver. It has a strong, grow-
ing and diversified economy and
itʼs very attractive to millennials,
which is good for the multifam-
ily market, as most of them are
renters.”
Separately, Aukum had sold
Fielder’s Creek at 3206 W. Floyd
Ave. for $32.4 million. Fielder’s
Creek has an Englewood mailing
address but it is in Denver.
Fuchs said part of the purchase
of Sloan’s Lake can be used as
a 1031 exchange to defer capital
gain taxes on the sale of Fielder’s
Creek.
The seller of Sloan’s Lake
was Sl Apts LLC, created by
Chicago-based Redwood Capi-
tal Group. Public records indi-
cate the purchase was funded
Multifamily
Aukum recently bought Sloan’s Lake in Lakewood – the apartment
community, not the actual lake.
We are the guys you
cheated off of in math.
303.623.6300
There was a reason for that. And still is.
We are the best at what we do.
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