Pinnacle to Manage Luxury Property in Denver

The 258-unit property in Eaglewood recently traded for a little less than $70 million.
Helios Apartments

Helios Apartments in Eagelewood, Colo.

Denver—Pinnacle recently announced that it has been selected to manage Helios Apartments, a 258-unit luxury community in Eaglewood, Colo. Back in December 2016, the property was sold by Hines Interests to Praedium Group for $69.9 million, according to Yardi Matrix data.

Located at 7901 E. Belleview Ave., the property resides in the heart of the Denver Tech Center, one of the city’s fastest growing areas for business and technology. Situated just east of Interstate 25 and south of Interstate 225, Helios is also surrounded by businesses and hotels in the DTC, restaurants, entertainment, retail and parks.

“The Denver Tech Center Business Corridor is home to approximately 200,000 jobs and currently has over 1.2 million square feet of office space either under construction or in the planning stage,” Lindsay Schuckman, associate for The Praedium Group, said. “Denver’s entire mass transit system is undergoing a $6.5 million build-out, adding 122 miles of rail along six new lines.”

The five-story, one- and two-bedroom property features a plethora of high-end amenities including a resort-style swimming pool, sundeck, outdoor fireplace and grilling stations, fitness center, business center, catering kitchen, as well as an interior courtyard. The property boasts an occupancy rate of 98.1 percent as of December 2016, according to Yardi Matrix.

Pinnacle is a privately held national real estate provider specializing in third-party management of multifamily residential communities. The company’s portfolio includes more than 165,000 residential units and 2.5 million square feet of commercial assets.

Image courtesy of Yardi Matrix