HFF announces $44.9M sale of Denver apartment community
DENVER, CO – October 26, 2017 – Holliday Fenoglio Fowler, L.P. (HFF) announces the $44.9 million sale of The Park at Canyon Ridge, a 272-unit, garden-style apartment community in southeast Denver, Colorado.
The HFF team marketed the asset exclusively on behalf of the seller, Jackson Square Properties. ColRich Multifamily purchased the property subject to existing debt.
The Park at Canyon Ridge is located at 9757 E. Colorado Avenue near the intersection of Havana Street and Florida Avenue in southeast Denver. Situated within walking distance to major retailers, the property is also convenient to light rail service, top-rated schools and major employment drivers, including the Fitzsimons Medical Campus, the dynamic Southeast Business Corridor and Buckley Air Force Base. The 13-acre community features units averaging 785 square feet with washers and dryers, fireplaces and private balconies, and a generous amenity package highlighted by a large swimming pool, fitness center and spacious dog park. The Park at Canyon Ridge is 94 percent leased.
The HFF investment advisory team representing the seller included managing director Jordan Robbins and directors Jeff Haag and Anna Stevens.
About Jackson Square Properties
Jackson Square Properties is a private real estate investment company located in the San Francisco Bay Area that specializes solely in the purchase and ownership of multifamily apartment communities. Founded in 2004, Jackson Square Properties has expanded over the years to own a diverse pool of multifamily assets totaling more than 75 communities with 20,000 units in 10 states.
About ColRich Multifamily
ColRich Multifamily is a private, residential real estate development and investment firm. The company currently owns and operates a portfolio of approximately 14,000 units in the western United States.
HFF and its affiliates operate out of 24 offices and are a leading provider of commercial real estate and capital markets services to the global commercial real estate industry. HFF, together with its affiliates, offers clients a fully integrated capital markets platform including debt placement, investment advisory, equity placement, funds marketing, M&A and corporate advisory, loan sales and loan servicing. HFF, HFF Real Estate Limited, HFF Securities L.P. and HFF Securities Limited are owned by HFF, Inc. (NYSE: HF). For more information, please visit hfflp.com or follow HFF on Twitter @HFF.