Dr. Asher buys apartment community

Dr. W.L. Asher runs a weight loss clinic in Littleton.

But through his Asher Investments, he also has been an avid investor in apartments in the Denver metro area since the 1970s.

Late last year, Asher Investments purchased the 297-unit Alta Harvest Station from its developer, Wood Partners, for just under $64.5 million.

The sale price for the community at 11775 Wadsworth Boulevard, equates to $217,000 per unit

“I’m not sure if this was his biggest transaction ever, but it was pretty big for him,” said David Potarf, who listed and marketed the property with fellow CBRE team members Dan Woodward and Matt Barnett.

Asher could not be immediately be reached for comment in time for the deadline of this article, beat out a number of other buyers for the 13-building Alta Vista that opened in early 2014.

“We had a dozen or so offers for Alta Vista,” Potarf said.

“A number of institutional investors were extremely interested in buying it,” he said.

Prospective buyers really liked its location and the quality of construction, he said.

“Dr. Asher was competing against a lot of institutional investors,” Potarf said.

“He really knows and understands that market, so I think it being in his backyard, so to speak, he really knows its potential,” Potarf said.

Read the rest of the article in the Jan. 21-Feb. 3 edition of CREJ.

John Rebchook has been taking the pulse of the Denver-area and Colorado commercial real estate world for almost 35 years. He joined the editorial staff of CREJ in 2011. Prior to that, he was the Real Estate Editor of the Rocky Mountain News from 1983 until it closed in 2009.