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| Village West Apartments, Arvada, CO |
Arvada, CO (Sept. 24,
2015) – 29th Street Capital (29SC), a privately-held real estate investment and
advisory firm, has acquired Village
West, a 58-unit multifamily community in the sought-after Denver suburb of
Arvada, Colorado.
29SC was able to source the acquisition off-market, avoiding
the competitive bidding processes common in the Denver multifamily transactions
market.
29SC plans to invest
approximately $1.1 million (or $19,000 per unit) to improve Village West’s
exterior, interiors and amenities, bringing the property in line with
comparable apartment communities in the submarket.
“Village West is our
second recent acquisition in the Denver metro, with others on the horizon as we
continue to build our presence in Colorado,” said Todd Jaycox, Senior Vice President of Acquisitions for 29SC.
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| Stan Beraznik |
“Our goal is to
dramatically improve the property’s physical condition and offer an updated,
yet affordable, rental option in a highly-desirable suburban location.
"Village
West will benefit greatly from strategic improvements designed to modernize the
community and increase its appeal.”
For investment inquiries, contact:
Stan Beraznik, Founder and
Managing Principal at 29th Street Capital
415.643.6875 | sberaznik@29thstreetcapital.com
For a complete copy of the company’s news release,
please contact:
Terri Thornton
Partner, Thornton Communications
p:404-932-4347 | e:Terri@TerriThornton.com |
w:www.TerriThornton.com
http://www.facebook.com/pages/Thornton-Communications/112101288827299
http://twitter.com/Ttho http://www.linkedin.com/in/TerriThornton
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