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| Elan Union Station, Downtown Denver, CO |
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| 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
(949) 955-7940, LAstfalk@browermillercole.com
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