300-Unit Luxury Multifamily Community in Lowry Sells for $105M
The Connor Group, a Dayton, Ohio-based real estate investment firm, has purchased Alas Over Lowry (formally Broadstone Lowry), a 300-unit luxury multifamily community located at 8505 Lowry Boulevard in Denver’s Lowry redevelopment, for $105 million.
Newmark Knight Frank (NKF) Vice Chairmen Terrance Hunt and Shane Ozment, with Senior Transaction Manager Amanda Meldrum and Transaction Manager Craig Ratterman, represented the seller in the transaction, Alliance Residential, the most active multifamily developer in the United States.
“Built in 2019, Broadstone Lowry’s high-quality construction and finishes made it attractive to investors and residents alike in the supply constrained submarket of Lowry,” said Hunt. “This was a unique transaction because the property was sold while still in lease-up, which has been a rare occurrence during COVID-19. All parties worked patiently and attentively to get this sale done during a challenging time.”
The Class A property’s best-in-class amenity package includes a resort-style pool, spa and pool-side cabanas; an outdoor kitchen and large fire pits; a rooftop amenity deck with panoramic views, outdoor kitchens, and entertaining areas; a wellness center featuring meditation pods and a living green wall; a pet wash and grooming station; a state-of-the-art fitness center and private yoga studio; several courtyards.