A fund sponsored by CBRE Global Investors has acquired The Tenzing, a 320-unit multifamily property situated 25 minutes north of downtown Denver in Westminster. The acquisition of the property, which is located at 11674 North Pecos St., is aligned with the fund’s strategy of investing in target multifamily markets across the United States.
The Tenzing spans 297,615 square feet and includes a mix of one-, two- and three-bedroom apartments. Residents at The Tenzing, which is 90 percent leased, have access to an expansive amenity collection that includes a fitness center and yoga studio, a saltwater pool, outdoor BBQ grills, a dog wash station and outdoor dog park, a bike repair shop and a business center.
The Tenzing is close to a variety of shopping, dining and entertainment options along Colorado Highway 128. The property is less than 40 minutes from Denver International Airport.
“The Tenzing is a newly built development in a commuter-friendly suburb of Denver. With easy access to I-25, residents can be downtown in less than 30 minutes,” said Kim Hourihan, a portfolio manager for CBRE Global Investors. “With this ideal location and a robust set of amenities, these high-end units have been in steady demand. We are actively investing in this type of product, as we expect demand to continue to grow in other key U.S. multifamily markets like Denver, which has benefited from investments in public infrastructure and the creation of community amenities, like a variety of dining and entertainment options.”
CBRE Global Investors is a global real asset investment management firm with $106.2 billion in assets under management as of September 30, 2019. The firm sponsors investment programs across the risk/return spectrum for investors worldwide.
Photo courtesy of CBRE
