Brickstone CEO Daniel Otis Assumes Full Ownership of The Lodge at Boulder

Brickstone Partners CEO Daniel Otis has assumed full ownership and control of The Lodge at Boulder, a 371-bed, 220-unit student housing community at 2900 E. Aurora Avenue that serves the University of Colorado Boulder. Cornerstone, Otis’ family office, acquired the membership interest previously held by Deutsche Finance America, consolidating ownership under Brickstone’s operations.

The transaction follows a series of capital events for the asset. Brickstone originally acquired the property in 2015, and the investment was recapitalized in 2019 through a joint venture between Brickstone and DFA. The Lodge was later included in a 2022 portfolio refinancing co-originated by Blackstone Real Estate and Clarion Partners in a portfolio recapitalization valued at more than $180 million. At the time of the 2019 recapitalization, the press release notes these assets had generated internal rates of return in excess of 30 percent.

Since acquisition, Brickstone and Otis have overseen extensive renovations at The Lodge at Boulder, including upgraded unit interiors, a redesigned clubhouse, enhanced common areas and mechanical system improvements. The community continues to be recognized in the market for its proximity to campus and amenity set.

“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 said. “Completing this transaction allows us to continue investing in both the asset and the entire community with a long-term perspective.”

This ownership consolidation aligns operational control and capital stewardship around a single sponsor, enabling a clarified governance structure for future investment decisions. The combination of recapitalizations, institutional refinancing and targeted property improvements documented in the release demonstrates a typical path for value creation in the student housing sector: acquisition, capital partnership, asset upgrades and repositioning, followed by portfolio-level financing.

For operators and investors watching student housing markets, the Lodge transaction underscores the continued role of operator-led ownership and institutional capital in supporting asset-level improvements and longer-term community investment. Brickstone’s retained control of the Boulder asset positions the firm to execute on its stated long-term commitment to the property and its residents.