HZ Bags CO Property for $60M
- Nov 08, 2017
San Francisco-based Hamilton Zanze (HZ) has acquired Oxford Station Apartments in Englewood, Colo. The 238-unit transit-oriented development, which opened just more than a year ago, changed hands for a purchase price of $60 million.
Featuring a 96 percent occupancy rate at acquisition, Oxford Station Apartments is made up of two expansive, five-story structures totaling 182,991 net rentable square feet. A blend of studio, one- and two-bedroom units comprise the floor plan selection.
The community’s luxury amenities include a swimming pool with hot tub and barbecue area, modern fitness center with virtual workout classes, sky-level entertainment lounge, social lounge, Zen lounge, pet-washing station and dog park, on-site secure storage, enclosed bicycle parking, outdoor gaming area, and bike, ski and board repair station.
In addition, the community features structured parking.
Convenient downtown access
Developed by Littleton Capital Partners, the property is located at 4101 S. Navajo Street. Its current high occupancy levels have been maintained since opening, and have in no small way been impacted by the property’s adjacency to the Oxford Station of the popular RTD Southwest Light Rail Line. Property management has transitioned to Denver-based Mission Rock Residential, an HZ partner.
“Oxford Station offered a unique opportunity to buy a phenomenally-built product with modern amenities at an attractive basis,” said HZ managing director of acquisitions David Nelson. “The property is located adjacent to a light rail station, providing residents with convenient access to downtown Denver and an ever-expanding light-rail network. CBRE, specifically David Potarf, exceeded our expectations and we look forward to working on our next deal together soon.”
While HZ owns seven properties across the Denver metro region, this is its first property in Englewood, a major Denver suburb of 34,050 directly south of the Mile High City.