By D.C. Stribling, Contributing Editor
Bell Partners Inc. and Hansainvest, a German investment management company, acquired Escape at Ken-Caryl for $63.4 million through a joint real estate partnership. The property is a 250-unit community in the Denver submarket of Littleton, Colo.
Escape at Ken-Caryl, completed in 2015, was renamed Bell Ken-Caryl and will be managed by Bell Partners. The 15-building community offers one-, two- and three-bedroom units that average 970 square feet.
Common amenities include a clubhouse with a resident lounge, billiards room and catering kitchen. The property also features a resort-style pool with tanning ledge, an outdoor fireplace, grills, a shuffleboard court, business center and bike workshop.
Residents have access to the Ken Caryl Ranch, which consists of 3,800 acres of open space and more than 25 miles of trails, and the Ranch House. That facility includes tennis courts, an outdoor 25-meter swimming pool, soccer fields, a disc golf course, a sand volleyball court and the Equestrian Center.
The transaction is the second asset acquired by the partnership between Bell and Hansainvest’s Hansa US Residential Fund. The fund is focuses on providing institutional investors with the opportunity to invest in core residential properties in the U.S. With the purchase of Bell Ken-Caryl, Bell will have completed $560 million in multifamily acquisitions in 2017.