Martines Palmeiro Construction began construction in December on AvalonBay Communities Inc.’s first ground-up apartment community in the greater Denver area, this one in the River North Art District.

Denver has been the poster child for accelerated growth in the past decade. After recovering from the recession, the city added jobs at a healthy pace and managed to keep unemployment rates .

In the Denver area, the population has grown dramatically faster than construction of new housing units. Just under 500,000 people have moved to the Denver metro area since 2009, and

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An out-of-state group ended 2019 with its entry into the Colorado multifamily market. Sunroad Enterprises, under the names Sunroad SMVA Portola LLC and Sunroad SRCP Portola LLC, paid $71 million, or $351,485 per unit, for the Portola at Southglenn, sold by Southglenn Property Holdings LLC, according to public records. The 202-unit community, located at 6851…

A newly built multifamily community in Colorado Springs sold to an Atlanta-based buyer for $37.1 million, or $249,000 per unit. Cortland Partners purchased One330 Apartments at 1330 Kelly Johnson Blvd. in an off-market transaction. The 149-unit community was in lease-up at the time of sale. “One330 is situated in a well-established area of central Colorado…

An investment firm that acquires, owns, renovates and operates affordable, workforce and value-oriented apartment communities across the U.S. made a $34.25 million purchase in Denver. Avanath, according to public records, purchased Fox Crossing, a 220-unit affordable housing community at 8350 E. Yale Ave. It purchased the community from Legacy Partners. Dan Woodward, David Potarf and…

A new buyer to the Colorado Springs market purchased the Advenir at Spring Canyon apartment community at record pricing. Benedict Canyon Equities paid $69.3 million, according to public records, for the 292-unit community at 4510 Spring Canyon Heights. At $237,329 per unit, the price appears to be a record per-unit price paid for 1990s product…

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Grand Peaks added a “family” asset to its portfolio with its recent southeast Denver acquisition. The Denver-headquartered firm, in partnership with Aegon Asset Management, paid $36 million, or $163,636 per unit, for Monaco South, a 220-unit community at 2280 S. Monaco Parkway in Denver. “Monaco South offered investors the opportunity to acquire an asset with…