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| Encore Highpointe Park apartments, 9701 Pearl Street, Thornton, CO |
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| Jordan Robbins |
DENVER, CO – HFF announced today that it has closed the sale
of Encore Highpointe Park, a 220-unit, Class A, garden-style
multi-housing community in Thornton, Colorado.
HFF
marketed the property on behalf of a joint venture between Encore Enterprises
and Inland Private Capital Corporation.
Asher Investments purchased the asset for $40.75 million free and clear
of existing debt.
Encore Highpointe Park is located at 9701 Pearl Street
within one half mile of Interstate 25 in the desirable Highpointe Park retail
development of Thornton, approximately 10 minutes north of downtown
Denver.
With units averaging 941 square feet, the newly developed
community was approximately 90 percent leased at the time of sale. Community amenities include a clubhouse,
coffee lounge, fitness studio, yoga room, playground, swimming pool, spa,
barbecue area and attached parking garages.
The
HFF team representing the seller was led by director Jordan Robbins and
associate director Jake Young.
Encore Enterprises, Inc. is a privately owned national real
estate investment company founded in 1999 with corporate headquarters in
Dallas, Texas.
Encore develops, acquires,
and manages hotels, multi-family communities, retail shopping centers,
commercial offices and public-private mixed-use developments.
Inland Private Capital Corporation, based in Oak Brook,
Ill., offers replacement property investments for persons participating in a
1031 tax deferred exchange, as well as opportunities for accredited investors
who are seeking a real estate investment.
Asher Investments is a privately held real estate investment
company located in Denver. The company
invests on its own behalf and is one of the largest private owners in Denver,
with more than 3,000 units, along with other properties located in California
and the Washington D.C. area.
For a complete copy of the company’s news release, please
contact:
Kristen M. Murphy
Associate Director
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
tel (main) 617-338-0990 | (direct) 617-338-1572 | cel
617.543.4873 | www.hfflp.com
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