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387 AMBROSE STREET | ERIE, CO 80516

2023

YEAR BUILT

151

UNITS

Location

The Opportunity

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THE COTTAGES AT ERIE COMMONS - JV Equity

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Erie Commons

JV Equity placement:

• 151-home luxury SFR/BFR community • Centrally located in Boulder County – approx. 30 minutes from downtown Boulder & downtown Denver • Located across the street from a brand-new recreational center, community park, ball fields, and library

Erie Commons features:

• Detached homes • Primarily 3BDRM floorplans • Direct access one and two car garages • Fenced-in front yards facing green courts

Berkadia, as the exclusive advisor, has been engaged to source joint venture equity for the purchase of the single-family-rental (SFR) community, Erie Commons, in Erie, Colorado. Erie Commons will consist of 151-detached, single family rentals in Boulder County, Colorado. The sponsor, Urban Cottages, will be purchasing the homes at Certificate of Occupancy direct from the builder in fifteen-unit increments on a rolling delivery schedule. This phased takedown will allow the Sponsor to stabilize the community in phases.

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Ease of Access to Major Employment Centers

Erie, Colorado is a thriving town located in both Boulder & Weld County with a lot to offer to both residents and businesses. The town has experienced significant growth in recent years and has become a popular choice for families and professionals seeking a high-quality living experience. Erie has a population of around 30,000 residents, with a median age of 36 years old. The town has a diverse population, with over 20% of its residents identifying as Hispanic or Latino. The median household income in Erie is around $110,000, which is nearly 60% higher than the national average and 40% higher than the Colorado average. The town is located near major employment centers in the Denver metropolitan area, with easy access to both Denver and Boulder. Top employers in the area include Ball Corporation, Oracle, Google, UCHealth, and Children's Hospital Colorado. The town has also experienced significant business growth in recent years, with new businesses and employment opportunities emerging all the time. Erie is also conveniently located near two major airports, Denver International Airport (28 miles) and Rocky Mountain Metropolitan Airport (25 miles), providing easy access to domestic and international travel.

INVESTMENT HIGHLIGHTS

Premium Finishes and Design

Erie Commons’ private homes with personal balconies, front yards, and an abundance of natural light come equipped with top-of-the-line finishes. Each home has wood-style plank flooring, stainless steel appliances, designer cabinetry, and granite countertops. Nearly every home has its own two-car garage, and the second/third story provides an element of privacy and space for each resident of every household. Within each unit, residents will find a washer and dryer, high ceilings, spacious closets, and spacious master bathrooms with double vanities. Amber Creek’s high-quality finishes, modern designs, and spacious floorplans boast a luxury lifestyle for all the community’s residents.

PROPERTY SUMMary

BFR/Single Family Detached Homes

2-3

151

202.596 square feet

12.18

530,560

12.4 homes per acre

Crawl Space

Style

Stories

Buildings

Gross Leasable Area

Acreage

Land SF

Density

Foundation

Composite Shingle

Roof

LVT & Carpet

Floor Covering

Mechanical Systems

Central AC

HVAC

Individual Hot Water Heater (Electric)

Hot Water

Individual Furnace (Electric)

Heat

387 Ambrose St. | Erie, CO 80516

WELD COUNTY

THE COTTAGES AT ERIE COMMONS

Wood Frame

Construction

Year Built

2023

151

Units

PROPERTY SUMMary

Individually Metered (United Power)

Individually Metered (Xcel)

Individually Metered (Town of Erie Water)

$250

$25

$350 (1pet), $500 (2 pets)

Electric

Gas

Water/Sewer

Fees

Admin Fee

Application Fee

Pet Fee (one-time fee)

$35

Pet Rent

$125

Community Fee

Parking

1 Attached 2-Car Garage/Unit

Garage

On-street parking

Surfaced Spaces

Utility Billing Structure

LOCATION

GALLERY

Berkadia®, a joint venture of Berkshire Hathaway and Jefferies Financial Group, is an industry leading commercial real estate company providing comprehensive capital solutions and investment sales advisory and research services for multifamily and commercial properties. Berkadia® is amongst the largest, highest rated and most respected primary, master and special servicers in the industry. This advertisement is not intended to solicit commercial mortgage loan brokerage business in Nevada. © 2023 Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Berkadia® and Berkadia Commercial Mortgage® are trademarks of Berkadia Commercial Mortgage LLC. Investment sales and real estate brokerage businesses are conducted exclusively by Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Commercial mortgage loan origination and servicing businesses are conducted exclusively by Berkadia Commercial Mortgage LLC and Berkadia Commercial Mortgage Inc. Tax credit syndication business is conducted exclusively by the Tax Credit Syndication group. For state licensing details for the above entities, visit: https://www.berkadia.com/licensing/.

Nick Steele

Senior Director 303.689.8306 nick.steele@berkadia.com

Mortgage Banking

Brian Huff

Managing Director 303.689.8314 brian.huff@berkadia.com

Nate Moyer

Director 303.689.8320 nate.moyer@berkadia.com

Tyler King

Director 303.607.0847 tyler.king@berkadia.com

Investment Sales

1331 17th Street 10th Floor Denver, CO 80202 Phone: 303.689.8312 Fax: 303.689.8352

Denver Office

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Proximity to World Class Recreation

Colorado is one of the great outdoor meccas of the world with thousands of miles of hiking and biking trails, first-class ski resorts, golf courses, and scenic rivers and lakes perfect for fishing, boating, and rafting. The Rocky Mountains are less than 30-minutes from the Erie Commons community; however, just outside the back door of Erie Commons, residents can find premier access to Erie Community Park with unparalleled amenities such as the skate park, pump track, sledding hill, and climbing obstacles, backdropped by the Rockies. The Erie Commons community hosts its own pocket parks central to the community where residents can spend time with family. Erie Singletrack trails, Reliance Park, Longs Peak Park, and Thomas Reservoir Park are all within 2-miles of Erie Commons, providing extraordinary regional outdoor amenities to residents.

Convenient to Neighboring Retail and Entertainment

Erie Commons is located in close proximity to a variety of retail and entertainment options, making it a convenient and enjoyable place to live or visit. Old Town Lafayette: This vibrant downtown area is located just a few miles from Erie Commons and features a variety of shops, restaurants, and community events throughout the year, including a weekly farmers market. The Orchard Town Center: This large outdoor shopping center features a wide variety of shops, restaurants, and entertainment options, including a movie theater, fitness center, and indoor skydiving facility. Flatiron Crossing: This indoor shopping mall is located in nearby Broomfield, Colorado, and features a variety of stores, restaurants, and entertainment options, including a movie theater, ice rink, and children's play area. Downtown Louisville: This charming historic district is located just a few miles from Erie Commons and features a variety of shops, restaurants, and cultural attractions, including art galleries, museums, and theaters.