J.P. Morgan purchases Denver-area ultra-luxury apartment in $127.4 million sale closed by HFF

Kent Place Residences, Cherry Hills Village Area, Englewood, CO

DENVER, CO  – Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the $127.4 million sale of Kent Place Residences, a 300-unit, ultra-luxury, Class A apartment community located in the Cherry Hills Village area of Englewood, Colorado.

Anna Stevens

HFF marketed the asset on behalf of the seller, Forum Real Estate Group.  Institutional investors advised by J.P. Morgan Asset Management purchased the asset and assumed the existing financing at closing.

The HFF investment sales team representing the seller was led by managing director Jordan Robbins and directors Jeff Haag and Anna Stevens.

Completed in 2015, Kent Place Residences consists of three four- or six-story buildings offering a mix of one-, two- and three-bedroom units averaging 1,243 square feet, more than 25 percent larger than units at competing properties. 

Jordan Robbins

Apartment homes feature market-leading interior finishes, including oversized windows, vinyl wood-plank flooring, designer lighting, five-piece bath, custom cabinetry, granite countertops with under mount sinks, walk-in closets, Whirlpool stainless steel appliances, full-size washers and dryers, and large private balconies or patios.

 Additionally, the property contains the only for-rent penthouses in the highly-affluent southeast Denver area.  Penthouses range between 2,375 and 2,779 square feet and contain upgraded amenities, including Electrolux appliances with gas ranges, quartz countertops, hardwood flooring, glass tile backsplash, private garages, floor-to-ceiling windows with stunning views, gas fireplaces and access to the roof-top lounge.

The 5.85-acre community is located adjacent to the Cherry Hills Village neighborhood, one of the most affluent areas in the Rocky Mountain region and the highest demographic location within Denver.

 Kent Place Residences is positioned on the corner of East Hampden Avenue and University Boulevard and is included within a mixed-use development equipped with approximately 34,000 square feet of retail anchored by a King Soopers Fresh Fare grocer.

 Additionally, in addition to prominent medical districts, residents can easily access four of Denver’s premier employment centers, Denver Tech Center, Southeast Business corridor, downtown Denver and Cherry Creek, along with premium retail at Cherry Creek Shopping Center, Streets at Southglenn and South Pearl Street.

Jeff Haag

“Kent Place is one of the most unique multifamily properties in all of Denver, with extremely large units to fit the area’s most prominent demographic,” Robbins said.  “Additionally, Forum Real Estate Group did an outstanding job with ‘over-amenitizing’ the property to genuinely fit the resident profile. This is truly an irreplaceable asset within the market.”

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

Olivia Hennessey

Public Relations Specialist

HFF | 9 Greenway Plaza, Suite 700 | Houston, Texas 77046

tel 713.852.3403 | fax 713.527.8725 | hfflp.com

ohennessey@hfflp.com

www.jpmorganassetmanagement.com.

http://www.forumre.com.