$26.25 million sale of Denver, CO multi-housing community closed by HFF

Jordan Robbins

 DENVER, CO – HFF announced it has closed the $26.25 million sale of Rockledge Bear Valley, a 230-unit, garden-style multi-housing community in Denver.

                HFF marketed the property on behalf of the seller, a joint venture between ColRich Multifamily and Harbert Management Corporation.  Jackson Square Properties purchased the asset for $26.25 million free and clear of existing debt.

                Rockledge Bear Valley is located at 3550 South Kendall Street in southwest Denver on the border of Lakewood and Jefferson Counties. 

Partially renovated between 2012 and 2014, the 96-percent leased property includes 10 three-story buildings with one- and two-bedroom units averaging 808 square feet each. 

Community amenities include a resort-style swimming pool, bocce ball court, outdoor grilling areas, state-of-the-art fitness center, dog park, clubhouse and business center.

Jeffrey Haag

                The HFF team representing the seller was led by director Jordan Robbins, associate director Jeff Haag and real estate analyst Jared Buffington.

                “ColRich/Harbert completed significant exterior and interior upgrades to the property giving it a competitive advantage within the submarket yielding incredible income growth throughout the last year.

“This was a highly sought-after property, but Jackson Square was the perfect buyer as it fits well within the company’s current portfolio and they will be able to continue the interior renovations to generate additional yield,” said Robbins.

ColRich Multifamily is a private, family run, residential real estate development and investment firm.  The company currently manages a portfolio of approximately 9,500 units in the western United States.  

Leveraging upon its construction expertise, ColRich Multifamily primarily invests in the value-add spectrum, with a heavy emphasis on value creation through either extensive renovations and repairs or ground up development. 

For a complete copy of the company’s news release, please contact:

Olivia Hennessey

Public Relations Coordinator

HFF | 9 Greenway Plaza, Suite 700 | Houston, TX 77046

tel 713.852.3403 | fax 713.527.8725 | www.hfflp.com

ohennessey@hfflp.com