OFFERING MEMORANDUM 3791 W 72ND AVE & 7205 MEADE ST WESTMINSTER, CO 80030

TRAVIS HODGE ANTHONY BOBAY Senior Advisor Investment Sales Advisor

[email protected] [email protected] 404.259.8171 720.297.6667 TABLE OF CONTENTS

PROPERTY OVERVIEW LOCATION OVERVIEW APPENDIX PROPERTY OVERVIEW DEVELOPMENT HIGHLIGHTS

Two blocks from historic Old Town Westminster.

Located within Qualified Opportunity Zone.

1/2 mile from Westminster Station (B-Line ).

Focal point of City of Westminster's redevelopment efforts.

City of Westminster undergoing code rewrite - property anticipating Traditional Mixed Use Neighborhood Development (TMUND) zoning. SITE OVERVIEW

SITE OVERVIEW

ADDRESS 3791 W 72ND AVE & 7205 MEADE ST

CITY/STATE/ZIP CODE WESTMINSTER, CO 80030

PARCEL ID 0171931417006, 0171931417030, 0171931417024

COUNTY ADAMS COUNTY

ZONING MUNICIPALITY CITY OF WESTMINSTER

ZONING FUTURE TMUND

PARCEL SIZE (SF) 52,556 SF

PARCEL SIZE (AC) 1.21 ACRES

MAX HEIGHT (FT) 45' SUGGESTED

ENVIRONMENTAL CONDITION NO KNOWN CONDITIONS

FEMA FLOOD ZONE DESIGNATION NONE

MILL LEVY 102.843

EXISTING BUILDING SF 1,456 SF AND 1,880 SF

EXISTING USE CAR WASH AND RETAIL/OFFICE

LIST PRICE UNPRICED ALLOWABLE USES

ALLOWABLE USES

1 MULTIFAMILY

2 AFFORDABLE HOUSING

3 MIXED USE

4 OFFICE

5 HOSPITALITY

6 RETAIL LOCATION OVERVIEW NEIGHBORHOOD DESCRIPTION

Situated in the southern part of the city, Historic Westminster is a vibrant area rich in history and character that has been 130 years in the making. Today, it is home to thriving local businesses, parks and bicycle trails, and a diverse mix of authentic cuisine restaurants. It is also home to Westminster Station (B-Line Commuter Rail) and is bounded to the north by US Highway 36. Historic Westminster boasts exceptional access with downtown just a 10-minute drive away, a 20-minute drive to Boulder, and 15-minute rail service to Union Station. With Westminster Station TOD just steps away, and a future focus on mixed-use urban infill development, the area can expect to see a tremendous amount of continued organic growth with a mixed-use array of retail, residential and office development. AREA STREET MAP

3791 W 7 2ND A V E

NEWTON ST 7 205 M E A DE S T

MEADE ST

W 72ND AVE REGIONAL MAP

Boulder

80TH AVE

15705 W 82ND AVE WADSWORTH AVE 15705 W 82ND AVE

Interlocken Broomfield 64TH AVE

Old Towne Arvada Harold Luts Sports ComplexThornton Old Towne Arvada Station

Arvada Ridge Station WARD RD Westminster 52ND AVE 52ND AVE 3791 W 72ND AVE &

INDEPENDENCE ST 7205 MEADE ST KIPLING ST Wheat Ridge 36 Ward StationArvada WADSWORTH AVE

Downtown Denver NEIGHBORHOOD MAP

ENGLAND PARK WADDELL PARK

WOLF RUN PARK WESTMINSTER SWIM & SKYLINE VISTA 96 FITNESS CENTER ELEMENTARY TORII SQUARE PARK

HARRIS PARK WESTMINSTER ACADEMY FOR INTERNATIONAL STUDIES ELEMENTARY SCHOOL 36 3791 W 72ND AVE OLDE WESTMINSTER PUB & TAVERN & 7205 MEADE ST SKYLINE ZIP CLINIC CAFE MEXICO VISTA PARK URGENT CARE #72 BUS

WESTMINSTER HIDDEN LAKE HIGH SCHOOL HIGH SCHOOL WESTMINSTER STATION LITTLE DRY CREEK DOG PARK LITTLE DRY CREEK PARK

HIDDEN LAKE PARK #31 BUS JOSEPHINE HODGKINS LEADERSHIP ACADEMY

287 PHOTOS 3791 W 72ND AVE & 7205 MEADE ST

WESTMINSTER STATION WESTMINSTER STATION TOD (ARTIST RENDERING AT FULL BUILD OUT DEMOGRAPHICS POPULATION 1 Mile 3 Mile 5 Mile

Population (1990) 11,854 117,874 281,946 Population (2000) 14,554 132,893 323,530 Population (2010) 13,789 130,238 319,115 Population (Current) 16,103 149,800 367,059 Population (5 Yr. Forecast) 16,736 154,905 379,046 Percent Growth (CurrentYr./Previous Yr.) 17.04% 14.67% 15.34% Percent Forecast (5 Yr.Forecast/Current Yr.) 3.92% 3.29% 3.24%

INCOME 1 Mile 3 Mile 5 Mile

Median Household Income $51,630 1$64,632 $72,705 Total Household Income $374,376,286 $4,373,671,665 $12,960,549,760 Average Household Income $60,189 $77,635 $87,686 Per Capita Income $23,249 $29,197 $35,309 Avg Family Income $74,957 $93,228 $104,438 Family Income, Per Capita $22,598 $28,667 $34,185

HOUSEHOLD 1 Mile 3 Mile 5 Mile Households (Current) 6,220 56,336 147,806 Families 3,761 36,199 89,926 Average Size of Household 2.58 2.67 2.49 Median Age of Householder 50 51 50 Median Value OwnerOccupied $153,399 $162,698 $202,765 Median Rent $862 $909 $948 Median Vehicles PerHousehold 2.0 2.0 2.0 Housing Units 6,517 58,654 154,214 Owner Occupied Units 2,764 32,934 87,914 Renter Occupied Units 3,456 23,402 59,892 Vacant Units 297 2,318 6,408 EMPLOYMENT KEY EMPLOYERS # of Employees Business Activity Address City

Lutheran Medical Ctr 1000 - 4999 Hospitals 8300 W 38th Ave Wheat Ridge 84th Avenue Neighborhood Hlth 500 - 999 Clinics 2551 W 84th Ave Westminster Alpine Waste & Recycling 500 - 999 Waste Disposal 7373 Washington St Denver Argus Event Staffing 500 - 999 Employment Agencies & Opportunities 4001 Fox St Denver Arvada City Government 500 - 999 Government Offices-City/Village & Twp 8101 Ralston Rd Arvada City Of Arvada 500 - 999 Government Offices-City/Village & Twp 8101 Ralston Rd Arvada Delt Services 500 - 999 Marijuana Dispensary 500 E 84th Ave Thornton First Transit Inc 500 - 999 Buses-Charter & Rental 100 W 64th Ave Denver Healthone Mountain View Nurse 500 - 999 Nurses-Licensed-Anesthetist 9141 Grant St Thornton Jefferson Center-Mental Health 500 - 999 Mental Health Services 9101 Harlan St Westminster National Western Complex 500 - 999 Trade Fairs & Shows 4655 Humboldt St Denver North Suburban Pulmonary Care 500 - 999 Physicians & Surgeons 9191 Grant St Thornton Regis University 500 - 999 Schools-Universities & Colleges Academic 3333 Regis Blvd Denver Thornton Finance 500 - 999 Government Offices-City/Village & Twp 9500 Civic Center Dr Thornton Western Distributing Co 500 - 999 Beer & Ale-Wholesale 4955 Bannock St Denver American Furniture Warehouse 250 - 499 Furniture-Dealers-Retail 8501 Grant St Thornton Anheuser-Busch Inc 250 - 499 Brewers (Mfrs) 1455 E 62nd Ave Denver Cleo Wallace Residential Care 250 - 499 Psychologists 8405 Church Ranch Blvd Broomfield Devereux Colorado 250 - 499 Mental Health Services 8405 Church Ranch Blvd Broomfield Leprino Foods Co 250 - 499 Cheese Processors (Mfrs) 1830 W 38th Ave Denver Lutheran Medical Ctr-Emergenc 250 - 499 Clinics 8300 W 38th Ave Wheat Ridge Metro Wastewater Reclamation 250 - 499 Government Offices-City/Village & Twp 6450 York St Denver Metrogro Farm 250 - 499 Farms 6450 York St Denver North Suburban Medical Ctr 250 - 499 Hospitals 9191 Grant St Thornton Pinnacle Charter Sch Elmntry 250 - 499 Schools 1001 W 84th Ave Denver Walmart Supercenter 250 - 499 Department Stores 7155 Sheridan Blvd Westminster Wheat Ridge Regional Ctr 250 - 499 Government Offices-State 10285 Ridge Rd Wheat Ridge APPENDIX ADAMS COUNTY

Out of the 355 largest counties in the country that the bureau examined, Adams ranked first with a 5.3% rate of annual job growth between June 2018 and June 2019. The county is ideally located at the crossroads of the metro region’s transportation network, which provides businesses and residents convenient access to I-25, I-70, I-270, and I-76.

Adams County also completely surrounds Denver International Airport (DIA), connecting it to the global transportation network. Adams County is forecasted to have record population and employment growth over the next 20 years. This projection is made in part because Adams County benefits directly from four of the $5 billion-dollar projects in Colorado – Fitzsimons Life Science District, E-470 toll road, FasTracks, and its direct proximity to Denver International Airport.

Largest percent increases in employment in largest U.S. counties, June 2018–2019

County Percent Change Employment June 2019 Adams, CO 5.30% 227,200 Richmond, NY 3.90% 128,600 Williamson, TX 3.90% 182,800 Utah, UT 3.90% 251,200 Durham, NC 3.80% 211,500 Osceola, FL 3.70% 96,900 Denton, TX 3.70% 257,700 Warren, OH 3.60% 99,800 San Francisco, CA 3.40% 761,000 Weld, CO 3.30% 114,700 St. Lucie, FL 3.30% 76,300 York, SC 3.30% 100,900 Davidson, TN 3.30% 514,700 WESTMINSTER STATION DEVELOPMENT

Located just southeast of the historic core of the city, the Westminster Station Transit Oriented Development (TOD) area is set to become the next new mixed-use urban neighborhood and regional destination in the Denver metropolitan area.

Westminster Station is closer to Union Station than most of Denver— with a convenient 15-minute train ride to Denver’s Union Station, along the B Line. The first stop on the Northwest commuter rail, Westminster Station is advantageously located near US Highway 36 and Federal Boulevard—two major regional thoroughfares in the Denver metropolitan area.

With more than 58 acres of transitoriented development in the core station area, Westminster Station is poised for tremendous growth. Anchored by a 600+ stall parking lot, the area can expect to see a mixed-use range of retail, residential and office development, all occurring organically over time.

Not too many TOD areas can claim the recreational element so unmistakable at Westminster Station. The first phase of development for Westminster Station Park— a nearly 40-acre park located just south of the station—will include an innovative nature-play park, and connection to the Denver/Boulder bike trail. Future phases may include a xeric garden, pavilions, special event space, fishing pier, seating and picnic areas, public art, and environmental education opportunities.

Information sourced from: https://www.westminstereconomicdevelopment.org/places/westminster-station-tod/ WHEAT RIDGE

Wheat Ridge is less than 15 minutes from Downtown Denver and has a population of over 30,000. The City maintains: 24 Parks 274 acres of open air space 4 lakes More than seven miles of nationally recognized trail along Clear Creek.

Located near the western edge of Denver, Wheat Ridge is an interesting mix of old and new. Tucked in the curve of I-70 as it heads west into the mountains, Wheat Ridge is an expansive community with a rich mix of cultural and shopping centers.

In addition to history, Wheat Ridge is home to diverse cultural pockets. From Hispanic centers to old theater districts, the town is an interesting study in contrasts. Antique-hounds will enjoy 44th Ave., home to a string of antique shops, consignment stores, and a co-op antique mall. Family-run restaurants, with menus ranging from South American cuisine to authentic Italian, are also scattered throughout Wheat Ridge.

Wheat Ridge is known as the “Carnation City” and is home to one of the longest running festivals in Colorado, the Carnation festival that attracts roughly 30,000 people annually to this 3-day event. This festival pays tribute to the history as the world’s carnation capital as it once had 32 different carnation growers. OLDE TOWN ARVADA

Olde Town Arvada is located just eight miles northwest of Downtown Denver, now with a light rail stop on the G line. Olde Town is Arvada’s downtown district featuring a mix of historic charm and modern-day amenities.

This vibrant shopping district features more than 100 one-of-a-kind shops, boutiques, galleries, events, restaurants, breweries, and a winery. Olde Town is listed on the National Register of Historic Places.

Olde Town Arvada also hosts events that the entire family can enjoy. Annual events include a chocolate fair in February, ladies’ day in May, farmers markets June through September, Friday night movies in August, harvest and Halloween celebrations in October, and holiday festivals in December. -

Other events include:

Tartan Festival Easter Egg Hunt Blues & BBQ Festival Sustain Arvada Festival Harvest Festival. CITY OF DENVER NOTABLE RANKINGS #2 BEST PLACES TO LIVE (U.S. NEWS & WORLD REPORT 2019)

#1 IN ECONOMIC 4th BEST PLACE IN TOP 10 PLACES & JOB GROWTH AMERICA FOR IN THE U.S. TO TRAVEL (AREA DEVELOPMENT, 2015) BUSINESS & CAREERS (LONELY PLANET, 2016) (FORBES, 2019)

#1 IN ECONOMIC 4TH BEST CITY 6TH FASTEST RANKING FOR BIKE RIDING (USNEWS.COM, 2019) GROWING METRO IN THE U.S. AREA IN THE U.S. (WALK SCORE, 2015) (FORBES, 2016)

3RD HEALTHIEST CITY IN THE NATION #1 IN THE NATION FOR (FORBES, 2016) LARGEST INCREASE IN RESIDENTS WITH COLLEGE DEGREES 7TH BEST STATE (U.S. CENSUS BUREAU, 2014) IN WHICH TO MAKE A LIVING 3RD BEST CITY FOR (FORBES, 2016) COLLEGE GRADS (RENT.COM, 2015) DENVER METRO

Located on the front range of the Rocky Mountains, the Denver Metro is a thriving urban epicenter famous for its breathtaking views, world-class dining, champion sports teams, exhilarating recreation, and eclectic arts and entertainment. It’s no wonder this metropolis is one of the biggest in the nation! ATTRACTIONS SPORTS

Denver Art Museum Basketball: Denver Nuggets Denver Museum of Nature and Science Hockey: Colorado Avalanche Denver Zoo Football: Denver Broncos Denver Aquarium Baseball: Colorado Rockies Six-Flags Elitch Gardens Soccer: Colorado Rapids Hyland Hills Water World Denver Aquarium DENVER GROWTH

Ranked as the top place to live in the U.S. by U.S. News & World Report, the city of Denver is home to over 705,439 residents (as of May 2019). An estimated 2.9 million people live in Denver Metro as a whole, with more people moving to the area each year, as this number is expected to grow by 12.6 percent over the next five years, compared to 3.7 percent nationally. Currently 100+ pe pleare immigrating to the city each day. The Denver Metro accounts for over half of the population in the entire state of Colorado, which is home to an estimated 5.5 million people.

CONSTRUCTION As one of the fastest-growing metros in the nation, Denver is thriving with new construction. This new construction will help accommodate the population growth throughout the metro. Some current projects include:

17th & Peal Apartments, a 315-unit apartment with 9,000 sq. ft. of retail.

Alexan 20th St Station, a 358-unit apartment with street level retail. Block 162, a full block project that included a 680,000 sq. ft. office tower and separate tower hotel.

Tabor Center Tower Two, a 33 story 700,000 sq. ft. office tower would be the largest development in Denver since 1985.

Market Station, Lodo, comprised of nearly a full block off the 16th St Mall in Downtown Denver, the development consists of 80,000 SF retail space, 95,000 SF office space & 225 apartments.

McGregor Square, Lodo, a project located across the street from Coors Field, it features 3 connected structures - an 11-story office building, a 13 story condominium and hotel buildings surrounding a center courtyard. Lower floors will feature retail tenants. EMPLOYERS IN THE DENVER METRO

The Denver metro is a hub for various industries, including aviation, health, business, finance, and technology. Outside of city, state, and school services, major employers in the Denver metro area include:

Denver International Airport Kaiser Permanente Lockheed Martin Liberty Tax Service Health ONE Corporation Western Union Centura Health University of Colorado SCL Health Systems Children’s Hospital Comcast Wells Fargo CenturyLink

In 2017, Amazon opened up a 1 million sq. ft. fulfillment center in Aurora, creating nearly 1,000 full-time jobs. Google is building a $131 million, four-acre, state-of-the art facility in Boulder, potentially bringing more jobs to the area.

Many companies choose to relocate to or expand in the Denver Metro, especially tech and startup companies.

Between 2007-2015, approximately 9,000 companies chose to relocate from California to Denver. These employers are attracted to the innovative culture, economic environment, exceptional talent, and deep sense of social responsibility that characterizes the Denver Metro. Forbes ranks Denver as #1 in the nation for business and careers, and Area Development ranks Denver as #1 in the nation for economic and job growth.

Denver metro is home to many fast-growing startups, with 113 local companies making the Inc. 5000 list of the nation’s fastest-growing private companies for the year 2017. LIGHT RAIL

The Regional Transportation District (RTD) operates 365 days a year to quickly connect travelers to their destination. As part of RTD, the 58-mile rail system features nine rail lines servicing 62 stations along the Denver metro’s North, East, Southeast, Southwest, and West rail corridors.

Popular destinations include:

Denver International Airport (DIA) Theatre District Convention Center Sports Authority Field at Mile High Pepsi Center 16th Street Mall Park Meadows Mall.

RTD’s rail system has transformed people’s commutes and the communities they live in. The 23-mile stretch from Downtown Denver to DIA is now just a 30-minute ride via light rail. The light rail is also attributed with revitalizing neighborhoods across the Denver metro, including Five Points and West Colfax. An average of 64,000 people utilize the light rail each day, making it eighth-largest system in the country, even though Denver is 21st in the nation in terms of population. DENVER INTERNATIONAL AIRPORT (DIA) Denver International Airport (DEN), also known as DIA, opened to the public on February 28, 1995 and at 34,000 acres, remains the largest and newest commercial airport in the United States, and the 2nd largest airport in the world by size and the 20th busiest airport in the world. It’s known around the world for its striking tented roof structure and technologically advanced operations. Over the past twenty years, DIA has established itself as the primary employer and economic driver in the Denver metro, supporting nearly 190,000 jobs and generating more than $26 billion in annual revenue. Served a record setting 64.5 Million passengers in 2018.

The airport serves over 170 destinations including 20 international cities in nine countries.

DIA is just 30 minutes from Union Station via the East Rail line. DIA has room to double its current capacity to remain competitive in the growing global aviation marketplace. DIA broke ground in May of 2018 on a $2.0 billion gate expansion project. The project will add 39 gates across all three concourses in the next four years, bringing the total to 150.

The expansion will utilize the airport’s original “telescoping” design by expanding astward and westward at the ends. The expansion is expected to be completed by the end of 2022.

DIA is among the first airports in North America to secure internationally recognized accreditation for measuring and reducing carbon emissions. CAPSTONE BROKERS 3791 W 72ND AVE & 7205 MEADE ST WESTMINSTER, CO 80030

TRAVIS HODGE ANTHONY BOBAY Senior Advisor Investment Sales Advisor [email protected] [email protected] 404.259.8171 720.297.6667

EMILY HAMPSON KIM HOFF Transaction Coordinator Marketing Manager [email protected] [email protected] 719.776.0916 612.669.2068 CONFIDENTIALITY DISCLAIMER

Capstone Apartment Partners has been engaged as the exclusive listing Broker representative of the Owner for the sale of this property. No contact shall be made by any prospective purchaser or agents to the Owner, its executives, staff, personnel, tenants, or related parties.

This Investment Offering Memorandum is a confidential solicitation of interest, and the information provided herein is provided for the sole purpose of considering the purchase of the Property. The Owner expressly reserves the right, at its sole discretion, to reject any or all expressions of interest to purchase the Property or to terminate discussions with any entity at any time with or without notice. The Owner shall have no legal commitment or obligation to any entity reviewing the Investment Offering Memorandum or making an offer to purchase the Property unless and until the Owner executes and delivers a signed Purchase Agreement on terms acceptable to the Owner. By receipt of this Offering Memorandum, prospective purchaser will be deemed to have acknowledged the foregoing and agrees to release the Owner from any and all liability with respect hereto. The enclosed materials are being provided solely to facilitate the prospective purchaser’s own due diligence for which the purchaser shall be fully and solely responsible. All information contained herein is confidential in nature, and recipient agrees not to photocopy, duplicate, forward, distribute, or solicit third party interest without written permission and consent from Owner or Capstone Apartment Partners.

Neither Capstone Apartment Partners nor the Owner make any representation or warranty, express or implied, as to the accuracy or completeness of the information contained herein, and nothing contained herein shall be relied upon as a promise or representation as to the future performance of the Property.

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