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.”

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