#United States #Boulder #Brickstone #Lodge at Boulder #Daniel Otis

Brickstone Partners Takes Full Ownership of The Lodge at Boulder

In a significant move for the Boulder student housing market, Brickstone Partners, a comprehensive real estate investment and development firm situated in Franklin, Tennessee, announced the complete acquisition of The Lodge at Boulder. This transaction, executed by CEO Daniel Otis, marks a pivotal moment for both the company and the community it serves.

The Lodge, a luxurious student housing complex boasting 371 beds, is strategically located at 2900 E. Aurora Avenue, in proximity to the University of Colorado Boulder. Daniel Otis emphasized the importance of The Lodge in their student housing strategy, stating, "The Lodge has been a mainstay of our student housing platform in Boulder for many years, and we remain committed to providing exceptional living experiences for the University of Colorado students."

Otis revealed that Cornerstone, his family office, played an instrumental role in acquiring the membership interest previously held by Deutsche Finance America (DFA). This decisive action not only consolidates ownership but also aligns the asset more closely with Brickstone's broader operational strategies.

This acquisition follows a successful refinancing in 2022 involving a wider portfolio of Boulder student housing properties, including The Lodge. The refinancing was backed by a partnership with Blackstone Real Estate and Clarion Partners, culminating in a recapitalization valued at over $180 million.

Since its acquisition of The Lodge in 2015, Brickstone Partners and Otis have significantly enhanced the value of the community, with substantial improvements made in recent years. The investment was recapitalized in 2019 through a joint venture between Brickstone and DFA, which further contributed to the community's growth. By 2022, the assets had already yielded internal rates of return surpassing 30 percent, showcasing the effectiveness of their management.

The Lodge's facilities have seen a thorough transformation, including modernized unit interiors, a revamped clubhouse, upgraded common areas, and improvements to mechanical systems. These enhancements position The Lodge as one of the premier student housing choices in Boulder, notable not only for its luxurious amenities but also its unbeatable location next to the university campus.

Despite the scale of this transaction and its impact on the local real estate landscape, specifics regarding the terms remain undisclosed.

About Brickstone Partners

Established in 2001, Brickstone Partners has carved out a reputation as a significant player in real estate investment and development. With a focus on high-quality multifamily properties and student housing, especially in areas adjacent to educational institutions, the firm has been involved in nearly $2 billion worth of real estate deals. Their commitment extends beyond business, aiming to deliver sustainable and creative solutions that benefit both their partners and the communities they engage with.

As the landscape of Boulder’s student housing continues to evolve, Brickstone Partners remains steadfast in its mission to enhance the living experiences of students through diligent investment and development strategies.