Equity Residential Buys Uptown Denver Asset for $135M
- Sep 06, 2018
Radius Uptown, a 372-unit luxury community in uptown Denver has changed hands. HFF arranged the transaction on behalf of the seller, Trammell Crow Residential (TCR), and procured the buyer, Equity Residential. The community was formerly known as Alexan Uptown. According to data provided by Yardi Matrix, Equity Residential acquired the asset for $135 million, or $362,823 per unit.
The 12-story building is located at 1935 Logan St., on approximately 1.3 acres. The property offers convenient access to large employers in Denver’s central business district, as well as various dining, shopping and entertainment venues.
Built in 2017, the community includes a mix of studios, one- and two-bedroom units ranging from 563 to 1,289 square feet. Radius Uptown features luxury in-unit amenities such as stainless steel appliances, mudrooms, custom closets, quartz countertops and balconies. Common-area amenities include:
- swimming pool
- 24-hour fitness center
- dog spa
- catering kitchen
- resident lounge
- business center
- electric car charging stations
- fire pits
- barbecue grills
- bike storage room
Additionally, the property features a fifth-floor games lawn and a rooftop deck. Radius Uptown was 84.7 percent occupied as of July. Managing Director Jordan Robbins and Director Anna Stevens were part of the investment advisory team that represented the seller.
“The offering attracted significant buyer interest due to its prime location in the core, walkable, highly amenitized uptown neighborhood of downtown Denver,” Robbins, said in a prepared statement.
Image courtesy of Yardi Matrix