Sagard Acquires Denver Community

Wood Partners originally built the community in 2019.

Sagard Real Estate, formerly EverWest Real Estate Investors, has acquired Alta Green Mountain, a 260-unit, Class A multifamily community in the West Denver submarket of Lakewood. Boston-based TA Realty sold the property.

Alta Green Mountain, built in 2019 by Wood Partners, comprises 10 low-density, garden-style residential buildings and a clubhouse. Amenities at the 13055 W. Mississippi Court property include EV charging stations, a year-round heated pool, a fitness center with yoga and spin studios, firepits, a bike and ski repair shop and office pods.

Bedroom layouts in Alta Green Mountain include one-, two- and three-bedroom floorplans. Homes include washers/dryers, a private balcony, granite countertops and faux wood flooring.

The gated community is located on 12.6 acres at the foot of Green Mountain. Green Mountain trails, parks, golf courses and lakes are nearby. Residents are in proximity to major highways that connect the property to downtown Denver and the Rocky Mountains.

Some 2 miles from the community is the Denver Federal Center, a 623-acre campus home to more than 6,200 employees of agencies of the national federal government. Also nearby is a Walgreens, Safeway, Natural Grocers, Starbucks and other retail and dining options.

The property, managed by Greystar, is 94 percent occupied, according to Yardi Matrix data. It last traded hands in 2020 when TA Realty acquired the community for $91 million.

Denver’s recent activity

There is limited new development in the West Denver submarket due to geographic and regulatory barriers. Since 2002, the area has averaged just 550 new housing permits annually.

Late last year, Aventine Littleton, a 227-unit community in Denver suburb of Highlands Ranch, Colo., traded hands. The property was purchased by Equity Residential from Century Living for $91.3 million in a deal brokered by CBRE. The community encompasses five three- and four-story buildings with a unit mix consisting of one-, two- and three-bedroom floorplans.