08 August 2017
Reporter: Theo Andrew

Denver apartments acquired for $75.25 million

Jackson Square Properties has acquired Gateway Park Apartments in Denver, Colorado, from a joint venture between Griffis Residential and PCCP, for $75.25 million.

The 328-unit asset was purchased without any existing financing and was 98 percent leased at closing.

Located close to Denver International Airport, the 21 acre-site consists of 22 two-storey buildings of one-, two- and three- bedroom units.

The multi-housing community features two swimming pools, a private lake and an adjacent nature preserve.

HFF marketed the asset on behalf of the joint venture.

Jordan Robbins, managing director at HFF, said: “Gateway Park is a high-quality asset located in one of the Denver metro’s strongest rent-growth submarkets. We received a lot of interest in the property due to its value-add nature and supply constrained location.”

More news
The latest news from Real Estate Investment Times
Join Our Newsletter

Sign up today and never
miss the latest news or an issue again

Subscribe now
London pension fund strengthens board
17 August 2017 | London | Reporter: Theo Andrew
The London Pension Fund Authority (LPFA) has appointed Nigel Topping and Barbara Weber to its trustee board, effective immediately
Greystar appoints Jeff Manno to lead Growth Fund
17 August 2017 | Charleston | Reporter: Theo Andrew
Reporting to Chris MacNaughton, Greystar’s head of portfolio management platform, Manno will relocate from London to Charleston, South Carolina
LaSalle shoots for $1 billion Asian real estate fund
17 August 2017 | Chicago | Reporter: Theo Andrew
In its fifth and latest close, LAO V secured $335 million of commitments, meaning the fund is well in line to exceed its initial target of $750 million
Schroders secures self-storage portfolio for £44 million
16 August 2017 | London | Reporter: Theo Andrew
It is the institutional investor’s first foray into self-storage sector, which it sees as a major growth opportunity within the alternatives sector down to changing demographic trends
BlackRock enters Australian renewable energy sector
16 August 2017 | Queensland | Reporter: Theo Andrew
The global investment manager secured the long-term syndicated debt facility through the Clean Energy Finance Corporation, the Commonwealth Bank of Australia and Natixis
Foundation appoints new global head of transactions
15 August 2017 | Zurich | Reporter: Jenna Lomax
Feix will be based in Zurich and replaces Ulrich Kaluscha, who held the post on an interim basis
Five Point buys OC office campus for $443 million
15 August 2017 | California | Reporter: Theo Andrew
Five Point Holdings has acquired a 73-acre corporate campus in Irvine, California, on behalf of its new venture, Five Point Office Venture Holdings I, for $443 million