Triumph Acquires Denver Asset for $26M
The 144-unit community marks the company's first acquisition in the area.
Denver—Triumph Properties Group announced its first acquisition in the Denver market, a 144-unit apartment community in Centennial, Colo. The company purchased Villas at Holly for $26.3 million and, according to Yardi Matrix, the seller was Kennedy Wilson. The transaction was closed on an all-cash basis in 37 days.
The one- and two-bedroom property is located at 6760 S. Glencoe St., on the corner of Arapahoe Road and Holly Street, and just minutes away from Denver Tech Center and The Streets of Southglenn, a recent shopping destination. Amenities include a clubhouse, tennis court, sparkling swimming pool and a state-of-the-art fitness center. Additional amenities include laundry facilities, individual air conditioning and private balconies. Villas at Holly is also pet-friendly. According to Yardi Matrix data, the community was 97.9 percent occupied as of January 2017.
Triumph Properties Group’s portfolio include approximately 2,000 multifamily units, 1 million square feet of commercial properties and various development sites around the country. The company is continuing to expand its platform with $150-$200 million in acquisitions targeted over the next 12 months.
Image courtesy of Yardi Matrix