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.”