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| Matt Masinter |
CHICAGO, IL – Waterton Associates LLC, a U.S. real estate
investor and operator, is pleased to announce the acquisition of The
Apartments at Denver Place, a 193-unit high-rise apartment community
located in downtown Denver. The community is the fifth property purchased by
Waterton in 2014.
The Apartments at
Denver Place is located within a larger mixed-use property known as Denver
Place, which also includes a high-rise office building, a fitness facility and
a controlled-access underground parking garage.
The apartments are located in a 37-story mixed-use tower
that contains 24 for-sale condominiums and a five-star Ritz-Carlton hotel on
the first 14 floors of the building.
Residents of The Apartments at Denver Place have access to
the hotel’s full suite of luxury amenities including the 9,000-square-foot
Ritz-Carlton spa, as well as the newly renovated 68,000-square-foot TruFit
Athletic Club.
“This is a very
high-quality property with a unique opportunity to further improve the residential
units, common areas and amenity spaces,” said Matt Masinter, senior vice
president of acquisitions at Waterton. “We are very pleased to add Denver Place
to our portfolio, as we see a lot of growth potential in this market and some
great value-add upside at this property.”
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| The Apartments at Denver Place, Denver, CO |
Since the area became eligible for tax increment financing in 2011, eight sites have been redeveloped, including the Denver U.S. Patent and Trademark Office.
The office, which opened in June 2014, is home to 125 professionals and is expected to generate $439 million of economic activity over the next five years. Lastly, the highly anticipated Union Station redevelopment is located just six blocks from the property.
For leasing information, call (866) 995-0446 or visit www.aptsatdenverplace.com.
For a complete
copy of the company’s news release, please contact:
Abe Tekippe, atekippe@taylorjohnson.com, (312)
267-4528
Virginia Love, vlove@wallc.com,
(404) 937-2061
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