IMT Capital Acquires Alta Alameda Station in Downtown Denver

HFF, a leading provider of commercial real estate and capital markets services in the U.S., recently revealed it has arranged the sale of Alta Alameda Station in downtown Denver.

Alta Alameda Station

HFF, a leading provider of commercial real estate and capital markets services in the U.S., recently revealed it has arranged the sale of Alta Alameda Station in downtown Denver.

Located at 275 S. Cherokee St. in downtown Denver, the 338-unit, Class AA, LEED Gold-certified urban infill apartment property was purchased by Los Angeles-based IMT Capital for an undisclosed sum.

HFF marketed the property on behalf of the seller, a joint venture between Wood Partners LLC and CBRE Global Investors, through a team led by director Jordan Robbins, associate director Jeff Haag and real estate analyst Jared Buffington. According to a news release, HFF also arranged a five-year floating-rate loan on behalf of IMT Capital through its Freddie Mac Program Plus® Seller/Service program. The team that handled the debt placement was led by senior managing director Mike Kavanau, director Josh Simon, and associate director Trent Niederberger.

Located in the historic Baker neighborhood, within walking distance of the Alameda light rail station and bus stop, Alta Alameda Station features one-, two- and three-bedroom apartments completed in 2014. Amenities include a seasonal swimming pool and hot tub, rooftop deck with full kitchen and fireplace, fitness center with cardio room and yoga studio, dog wash, cyber café, clubroom, and electric vehicle charging stations. Additionally, each unit will feature granite countertops and mosaic tiled backsplashes, stainless steel appliances including dishwasher and microwave, full-size washer and dryer and expansive walk-in closets.

“Alta Alameda Station is a true Class AA TOD property located within one of Denver’s most desirable rental areas and draws a very high quality tenant base seeking the area’s best amenity package,” Robbins says. “The property’s lease-up was extremely successful and the new buyer has purchased an extremely unique property.”

Image courtesy of Wood Partners, LLC