Transwestern, Trammell Crow Sell Denver Community
- Dec 11, 2020
Recently-completed Alexan Cherry Creek, a multifamily development in the Cherry Creek submarket of Denver, has changed hands. The seller of the 164-unit apartment community located at 55 Cook St. is Transwestern Investment Group (TIG) and Trammell Crow Residential (TCR), the multifamily development company of Crow Holdings.
Features and finishes of the apartment community’s residences include stainless steel appliances, ceramic tile backsplashes, quartz countertops and walk-in closets. A swimming pool and spa are among the most prominent of the community’s common-area amenities.
“Despite an uncertain economic environment and a pandemic, we didn’t encounter any significant challenges with executing this transaction,” Clarke Crenshaw, managing director at TIG, told Multi-Housing News. Two months ago, a JV acquired a Denver apartment community near Cherry Creek Trail.
A dynamic, pedestrian-friendly enclave, Cherry Creek is a luxury community featuring high-end residences, upscale restaurants and shopping and hotel accommodations.
Open-air fine dining venues are found up and down the streets leading to the Cherry Creek Shopping Center at the heart of the community. The Art Institute of Colorado and the University of Denver are 8- and 12-minute drives away, respectively.
Recreational opportunities within a 10-minute drive include Denver Botanic Gardens at York Street, Denver Museum of Nature & Science, History Colorado Center, City Park of Denver and the Denver Zoo.
The JLL Capital Markets team representing the seller was comprised of Jordan Robbins and Pam Koster.