Wednesday, September 6, 2017

$75.25 million sale of Gateway Park Apartments in Denver, CO closed by HFF


 
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.


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. 

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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