Luxury Apartment Property in the Denver Tech Center Sells for $115M
Denver-based EverWest Real Estate Investors has completed the sale of Peakview Apartments, located in the heart of the Denver Tech Center, for $115 million. The 4-story luxury community, located at 7700 E. Peakview Ave., was sold to Griffis Residential, a multifamily real estate investment company that owns and manages approximately 8,000 apartment homes in Colorado, Texas, California, Oregon and Washington.
“The success of this disposition reinforces that multifamily is still a very desirable product type for buyers in the Colorado market,” said Krystal Arceneaux, executive vice president and head of asset management for EverWest. “As an active buyer and seller ourselves, EverWest will redeploy a portion of the proceeds from this sale into a soon-to-be-completed luxury apartment community in Denver.”
Peakview Apartments was completed in 2015 and since then has maintained strong occupancy. The community offers 304 units including studio, one- and two bedroom apartments with market-leading finishes and amenities, including a resort-style pool, rooftop deck, fitness center, bicycle storage and repair facilities. Parking is provided in a structured, controlled-access deck. Peakview sits just two blocks from the Arapahoe light rail station. Together, these amenities contribute to the asset’s occupancy figures throughout COVID-19.
EverWest actively invests in multifamily assets across the U.S. in key growth markets.