REIT adds The Muse to Denver apt. holdings

A newly constructed apartment building adjacent to the University of Denver recently sold at a price topping $405,000 per unit. Highlands REIT recently paid $48.7 million, or $405,833 per unit, for the 120-unit apartment community at 2770 S. University Blvd. in Denver. “It is a high-profile location that is going to be pretty strong forever,”…

Jennifer Hayes

December 1, 2019
The Flats at the Oval

Public-private partnerships provide project options

Adapt or die. It’s as true of real estate development as it is in nature. That phrase has been repeated in various forms by authors, researchers, business coaches and, let’s not forget,

CREJ

November 25, 2019

Gelt grows portfolio with Timber Lodge buy

Los Angeles-based real estate investment and asset management firm Gelt Inc. grew its Denver holdings with its purchase of a niche product in the market. Gelt paid $61 million for Timber Lodge, a 390-unit, value-add, affordable apartment community at 1769 Coronado Parkway in Thornton. “With the market unable to add new units that can charge…

Jennifer Hayes

November 24, 2019
Fifty Eight Hundred

Lakewood project repurposes blighted property

“I am not sure there is any greater impact on a community and on personal lives than taking a blighted, contaminated, vacant, unattractive building and turning it into a vibrant, beautiful space

CREJ

November 24, 2019

Where are Denver apartment rents headed in 2020?

Denver continues to be a premier destination for job seekers in this growth cycle, but net migration and total employment growth is decelerating from their peaks set earlier in the cycle.

CREJ

November 22, 2019

Murals elevate apartments into landmarks

While the Denver skyline continues to be filled with cranes, owners and managers of multifamily properties have found themselves in a virtual arms race to provide the latest and greatest

CREJ

November 18, 2019

Apt. industry, residents contribute $39B to Denver

The apartment industry and its residents contribute $39 billion annually to Denver’s economy, $60.9 billion to Colorado’s and more than $3.4 trillion – or $9.3 billion daily – to the national

CREJ

November 18, 2019

Westwood Green sells for $83.1M

The Westwood Green apartment community in Lakewood sold for a reported $83.1 million. Bel Westwood LLC purchased the 300-unit community from Covington Realty Partners, according to public records. Located at 7410 W. Warren Circle, the three-story community, constructed in 2018, was around 90% occupied at the time of sale. It features a mix of one-,…

Jennifer Hayes

November 17, 2019

How Denver rents stack up to buying in the city

In the past 10 years, we have seen a substantial shift in housing trends, specifically household’s increased preference to rent and decreased feasibility to own. On a national level, the steadily

CREJ

November 17, 2019

Cheesman Park property sells for $30 million to L.A.-based buyer

A “once-in-a-lifetime” apartment property on Cheesman Park sold for $30 million, or $340,909 per unit. A multifamily office based out of Los Angeles purchased The Park Cheesman Apartments at 1177 Race St. – a property that has maintained the same ownership for the past 42 years, making its sale a once-in-a-lifetime opportunity, according to Greystone…

Jennifer Hayes

October 27, 2019