AQP Capital has sold two Aurora, Colo., rental communities, the 59-unit Elm Grove and the 99-unit Aspen Grove. The former was acquired for $7.2 million, while the latter sold for $12.3 million. Both buyers were represented by Marcus & Millichap. According to Yardi Matrix, AQP had purchased the two properties in 2018, from Vukota Capital Management.
Built in 1973, Elm Grove comprises studios and one-bedroom apartments. Common-area amenities include a swimming pool and laundry facilities. Constructed in 1970, Aspen Grove is a four-story building comprising studio, one- and two-bedroom units. Common-area amenities include a clubhouse, swimming pool and fitness center. According to Yardi Matrix, Aspen Grove was 79.8 percent occupied as of November.
Elm Grove is located at 11852 E. 16th Ave., while Aspen Grove is steps away, at 1568 Nome St. The two communities are within walking distance of the Anschutz Medical Campus, as well as various dining and retail options along Colfax Avenue. The communities are also within 2 miles of Forum Fitzsimons, a $104 million mixed-use project.
Marcus & Millichap Senior Director Greg Price and Senior Associate Jason Hornik assisted the buyers of the two communities.