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
Standard Chartered boosts CRE team
11 December 2017 | Singapore | Reporter: Stephanie Palmer
Standard Chartered has named Steven Cranwell as global head of commercial real estate for its global banking business
SoftBank and Compass in ‘largest ever’ US real estate tech investment
08 December 2017 | New York | Reporter: Stephanie Palmer
Real estate technology firm Compass has won $450 million in investment from the SoftBank Vision Fund, in what Compass has called the largest ever real estate technology investment deal in US history
Tristan fund makes first foray into Germany
07 December 2017 | Bonn | Reporter: Stephanie Palmer
The CCP 5 long-life fund, a core-plus fund advised by Tristan Capital Partners, has made its first investment in Germany, acquiring an office complex in Bonn for €35 million
JLL develops UK corporate solutions team
07 December 2017 | London | Reporter: Stephanie Palmer
JLL has named Sue Asprey Price as lead director of its corporate solutions business in the UK, with immediate effect
Link Asset Services appointed as real estate fund administrator
06 December 2017 | London | Reporter: Stephanie Palmer
Warehouse REIT, a specialist warehouse investor managed by Tilstone Partners, has selected Link Asset Services for fund administration
Dutch portfolio sold for €200 million
05 December 2017 | Amsterdam | Reporter: Stephanie Palmer
Patrizia Immobilien AG has sold a portfolio of 61 residential properties in the Netherlands, for around €200 million
Allianz tops off bumper 2017 with Broadway acquisition
04 December 2017 | New York | Reporter: Stephanie Palmer
Allianz Real Estate has acquired a 43 percent stake in 1515 Broadway, New York, a class-A building valued at $1.95 billion