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

NoCo apartment market sees ‘explosive’ absorption in Q3

A record number of apartment units were absorbed in Northern Colorado in the third quarter, keeping the vacancy rate in check even as new supply hit the market. “Absorption can only be described as explosive, with 664 units absorbed this quarter, exceeding the record 415 units absorbed during the second quarter of 2017 by 60%,”…

Jill Jamieson-Nichols

October 23, 2019

IRET buys Lugano Cherry Creek apts. for $99.25 million

Minneapolis-based IRET acquired the Lugano Cherry Creek apartment community – its latest purchase in the metro Denver market. The real estate company focused on the ownership, management, acquisition, redevelopment and development of apartment communities paid $99.25 million, or $302,591 per unit, for the 328-unit community at 9601 E. Iliff Ave. in Denver. Constructed in 2010,…

Jennifer Hayes

October 20, 2019

Copper Canyon trades for $58.75 million

An Atlanta-based national real estate investment company made its foray into the Mountain West with its acquisition of Copper Canyon. Carroll, a privately held real estate company that focuses on multifamily properties, paid a reported $58.75 million for Copper Canyon, a 222-unit, garden-style apartment community at 3380 E. County Line Road in Highlands Ranch. The…

Jennifer Hayes

October 7, 2019