Griffis grows with $73.25 million Cherry Creek purchase

The Alexan Cherry Creek community was renamed Griffis Cherry Creek North.

Griffis Residential grew its metro Denver apartment portfolio with its purchase in Cherry Creek.

The multifamily real estate investment company purchased the Alexan Cherry Creek community – renamed Griffis Cherry Creek North – from Trammell Crow Residential for a reported $73.25 million, according to public records.

JLL declined to comment on transaction specifics but noted that the 164-unit community at 55 N. Cook St. in Denver, constructed in 2018, was sought after by buyers.

“It’s really well located, right in Cherry Creek North,” said Jordan Robbins of JLL, who listed the property with JLL’s Pam Koster. “Buyers really liked the Cherry Creek location. There is not a lot for sale in the submarket and it was very well received. It was a well built property too.”

At the time of sale, Griffis Cherry Creek North was 92% occupied.

Apartments at the community feature studio, one- and two-bedroom units and amenities including in-home washers and dryers, stainless steel appliances, wood-style flooring, walk-in closets, a patio or balcony, ceiling fans, valet trash pickup and USBcompatible outlets.

The community features secure, 24-hour package lockers, pet wash, bike storage, resident lounge, entertainment room, year-round resort-style pool with sundeck and cabanas, all-season spa, outdoor fire pit, outdoor grilling stations, garage parking, and nearby walking and biking trails in addition to its Cherry Creek North location.

Griffis Residential owns and manages approximately 8,000 apartments in markets throughout Colorado, Texas, California, Oregon and Washington.

Featured in the December 2-15, 2020, issue of CREJ

Jennifer Hayes has been an editor with the CREJ since 2000. Jennifer covers multifamily and industrial news in the Denver metro area plus all property types in Colorado Springs, Southern Colorado, mountain towns and the Western Slope. She also handles High Fives news for the paper and is editor of the Health Care & Senior…