Colorado Real Estate Journal - March 2, 2016
The Lofts on the Hill, a retail/student housing property on University Hill in Boulder, changed hands in an $11.33 million transaction. Located at 1143 and 1155 13th St., the property consists of two buildings totaling 18,383 square feet. There are 13 three- and four-bedroom residential units with a total of 48 bedrooms and two retail units occupied by Span-ish Kitchen and Tots Restaurant. “This sale represents the continuing demand for quality investment properties in the Boulder market,” said Jason Koch, vice president of Unique Apartment Group. “LOTH has a predictable and stable cash flow, is always fully leased and will continue to achieve premium rental rates.” Records show University Hill Partners LLC sold the property to Clifford Brown, Jason W. Hebb, Bradley Brown and Hill Portfolio LLC. Unique Apartment Group said it sold the property, previously listed by two national brokerage firms, within a fivemonth period. It received multiple offers. The recent addition of the retail tenants and an increase in apartment rental rates were instrumental in attracting investors to the property, as was the property’s “excellent” condition and proximity to the University of Colorado campus, UAG said. Lofts on the Hill was constructed in 2011.