A fund advised by CBRE Global Investors acquired the Alexan CityCenter community in a $97 million transaction.
The 438-unit Class A, garden-style community with 13,000 square feet of ground-floor retail was sold by 801/901 Englewood Parkway Investors, according to public records.
The property has been renamed ArtWalk CityCenter.
Located at 801 Englewood Parkway in Englewood, ArtWalk is connected to the Englewood light-rail station, which provides direct access to downtown Denver and Union Station, for example. ArtWalk, CBRE noted, also benefits from walkability to retail, restaurants, cultural and entertainment amenities at the 300,000-sf CityCenter Englewood retail development.
Units at ArtWalk include spacious floor plans and an expansive amenity package. CBRE plans to implement its inspired lifestyle service and amenity program and initiate a comprehensive interior upgrade program to modernize unit interiors and common areas to create value. The community was constructed in 2001.
“Our inspired lifestyle program is a comprehensive program that takes a hospitality approach to serving our residents – from the amenities we offer to how we train our staff – and will complement the physical improvements we are planning at ArtWalk,” Maura Bilafer, managing director, CBRE Global Investors Americas, said in a release about the acquisition.
Denver is a target market for CBRE Global Investors.
