Thursday, May 19, 2016

American Realty Advisors Acquires Class A Multi-Family Asset in Downtown Denver, CO

Elan Union Station, Downtown Denver, CO

Scott C. Anderson
Denver, CO, May 19, 2016 – American Realty Advisors announced the acquisition of a newly-constructed, 314-unit multi-family property located in the Union Station submarket of Downtown Denver. 

The building also features approximately 58,000 square feet of ground floor retail space and a 2-story subterranean parking garage.  The property, formerly known as Elan Union Station, will be rebranded as ALARA Union Station. 

According to Scott C. Anderson, American’s Director, Investments, “Over the last several years, this submarket has become one of the most desirable urban locations within Denver due to its proximity to the Downtown employment center, as well as the developing cultural core of the city around ‘LoDo’ and Union Station.”

 He added that tenant demand for the apartments is expected to remain very strong due to the area’s accessibility, as the location is highly walkable and bike-able, and is adjacent to transit.

The seller, a joint venture that included Greystar, was represented by Jordan Robbins and Jeff Haag of Holliday, Fenoglio, and Fowler.

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

Lexi Astfalk / Jenn Quader for American Realty Advisors
Brower, Miller & Cole

No comments: