Denver, CO — Jackson Square Properties has sold the 345-unit Villas at Parker apartment community in Denver to Advenir. The seller used the proceeds from that sale to acquire the 185-unit Arapahoe Club, another apartment community in Denver.
Though prices were not given on the individual transactions, the entire trade was valued at $75.1 million, according to ARA Newmark, which represented Jackson Square in the disposition of Villas at Parker. ARA also represented the Reliant Group, which sold Arapahoe Club to Jackson Square.
Arapahoe Club is a Class B property near the Denver Technological Center (DTC), the area’s largest employment hub with more than 423,000 workers.
Villas at Parker is located at 1090 S. Parker Road. It was built in 1972 and renovated in 2008 and 2009.
Post-trade, Jackson Square owns almost 3,000 units in metro Denver.
Photo credit: Western Real Estate Business
