29SC Buys Denver-Area Apartments for $104M
The 286-unit property represents the firm's 12th acquisition in the metro.
Real estate firm 29th Street Capital (29SC) has acquired Peakline at Copperfield in the Denver submarket of Aurora, Colo. The purchase price of the luxury garden-style apartment community was $104 million. The newly built, 286-unit property represents 29SC’s 12th acquisition in the Denver area, and the third in the Aurora submarket.
Built upon a site of 12.2 acres, Peakline at Copperfield includes 10 three- and four-story buildings. The net development density is 21.86 units per acre. Peakline is among the fastest-growing neighborhoods in the Denver metropolitan area.
The residential mix features a blend of one-, two- and three-bedroom apartments. High-end features and finishes of Peakline at Copperfield include direct-entry enclosed garages, private balconies or patios, individual air conditioning, in-unit washers and dryers and above-standard ceiling heights.
A clubhouse café with beer and wine on tap is among the prominent amenities of the apartment community. Haven Residential, the in-house property management company of 29SC, will oversee management and leasing at the property.
Located at 4343 S. Picadilly St., near the corner of Picadilly and Quincy Avenue in Aurora, Peakline at Copperfield is situated within Copperleaf, Arapahoe County’s most substantial master-planned community. That community encompasses more than 850 acres and includes approximately 90,000 square feet of commercial retail space.
Residents of Peakline at Copperfield are no more than a five-minute drive from the Southlands Mall and 15 minutes from Park Meadows Mall. A number of employment hubs dot the Aurora submarket. Among them are the Southeast Business Corridor, Fitzsimons Medical District and Buckley Air Force Base.
The acquisition continues a year-long streak for 29SC that has seen it acquire more than 24 multifamily communities totaling 5,600 units across the U.S. The company’s pursuit of new opportunities is ongoing. Earlier this year, the firm acquired two Tampa Bay-area communities for $112 million.