The Praedium Group Acquires 2 Communities in Denver
- Mar 02, 2017
Denver—The Praedium Group announced the acquisition of Helios Apartments, a 258-unit multifamily property and Centennial Park Apartments, a 216-unit property located in the Denver market.
Helios is located in the Denver Tech Center, the largest employment center in metropolitan Denver. The community features one- and two-bedroom residences ranging from 642 to 1,367 square feet. Amenities include a fitness center, business center, swimming pool and a clubhouse, according to Yardi Matrix data. The five-story property offers convenient access to the Belleview Promenade as well as other retail outlets and restaurants.
Centennial Park offers one-, two- and three-bedroom units ranging from 685 to 1,230 square feet. The property features a recently renovated clubhouse with an outdoor resort-style swimming pool, a fitness center, business center and a lounge area with a gourmet kitchen and billiards. According to Yardi Matrix data, the property was 96.8 percent occupied as of January 2017. Centennial Park is in close proximity to the Denver Tech Center, Greenwood Plaza, Inverness Business Park and Meridian International Business Center.
“Both properties were built to a very high standard and are located in the coveted Denver South Metro area which contains a diverse employer base. The Denver Tech Center Business Corridor currently has over 1.2 million square feet of office space either under construction or in the planning stage,” Peter Calatozzo, managing director at The Praedium Group, said in prepared remarks. “With Denver’s expansion of its mass transit system, both assets will also benefit from 122 miles of rail along six new lines,” added Calatozzo.
Images courtesy of Yardi Matrix