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| Gateway Park Apartments, Denver, CO Photo by Jim Johnson |
DENVER, CO – Holliday Fenoglio Fowler, L.P. (HFF)
announced it has closed the $75.25 million sale of Gateway Park Apartments, a 328-unit, Class A garden-style
multi-housing community located in Denver, Colorado.
HFF marketed the asset on
behalf of the seller, a joint venture between Denver-based Griffis Residential
and PCCP, LLC. Jackson Square Properties
purchased the asset free and clear of existing financing.
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| Anna Stevens |
Gateway Park Apartments
consists of 22 two-story buildings,which house one-, two- and three-bedroom
units averaging 896 square feet. The
property is situated on 20.98 acres at 4255 Kittredge Street near Interstate 70
and Pena Boulevard in northeast Denver placing it within a short distance to
several of Denver’s employment centers, including Denver International Airport
and the Fitzsimons Medical Campus.
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| Jordan Robbins |
Community amenities
include two swimming pools with sundecks and all-season spas; outdoor dining
area with gas grills; private lake with fishing and beach; walking and jogging
path along the adjacent nature preserve; state-of-the-art fitness center,
clubhouse with fireplace and kitchenette; business center; and community
recycling program. The property was 98 percent
leased at closing.
The HFF investment sales
team representing the seller was led by managing director Jordan Robbins and directors Jeff
Haag and Anna Stevens.
“Gateway Park is a
high-quality asset located in one of the Denver metro’s strongest rent-growth
submarkets,” Robbins said. “We received
a lot of interest in the property due to its value-add nature and supply
constrained location.”
For more information on this 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
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