The developer has five projects in its local pipeline.
The property is located in the city’s Cherry Creek neighborhood.
Rents have finally turned a corner.
The six-story community came online last year.
The Iris underwent renovations last year.
Situated in the University Park neighborhood, the project anticipates its first move-ins in early 2025.
The seller acquired the property in 2018.
These metros accounted for more than 40 percent of the nation’s total deal volume, according to Yardi Matrix.
Cushman & Wakefield arranged the refinancing for the Greenwood Village, Colo., property.
The property is subject to a $25.8 million construction loan from FirstBank.