Denver Luxury Asset Trades for $122M

HFF marketed the 465-unit property on behalf of the seller, Lennar Multifamily Communities, and procured the buyer, Starlight Investments.

Parkhouse

Parkhouse

Starlight Investments acquired Parkhouse, a newly constructed, 465-unit, Class A luxury apartment community in the north Denver suburb of Thornton, Colo. for $121.6 million. HFF marketed the property on behalf of the seller, Lennar Multifamily Communities and procured the buyer. Starlight Investments also recently formed a partnership with two institutional investors to expand its South and West portfolio

Parkhouse occupies 24.2 acres at 14310 Grant St., east of 144th Avenue and Interstate 25. The asset is enclosed by north Denver’s retail and employment corridors which provide access to a 857,000-square-foot Amazon distribution center and a 320,000-square-foot upscale outlet mall.

Property Features

The newly built, three-story, garden-style property comprises units averaging 914 square feet and features designer kitchens with islands, granite countertops, stainless steel appliances, nine- to 15-foot ceilings, hardwood-style flooring, full-size washer and dryers, closets and private patios or balconies.

Community amenities include:

  • resort-style pools with spas and cabanas
  • outdoor kitchen with grills
  • community garden
  • playground
  • clubhouses
  • resident lounges
  • game room
  • fitness centers with cardio and yoga rooms
  • business center

The seller was represented by the HFF investment advisory team of Managing Director Jordan Robbins and Directors Anna Stevens and Jeff Haag.

Image courtesy of Yardi Matrix