NKF Achieves Highest Price Per Unit in Denver for Market Rate Apartments
DENVER — Infinity LoHi, a luxury, mid-rise community in Denver’s LoHi neighborhood has sold for $111.75 million. At $409,340 per unit, the property achieved the highest per-unit pricing in metro Denver in 2018 for market-rate apartments.
Vice Chairmen Terrance Hunt and Shane Ozment of Newmark Knight Frank Multifamily represented Greenwich, CT-based The Richman Group in the sale to an undisclosed institutional advisor.
“Completed in 2018, the property is one of only two newly delivered multifamily properties over 200 units in the highly coveted LoHi neighborhood,” Hunt said. “The asset is heavily amenitized and features a state-of-the-art fitness center, a 24-hour clubhouse and a resort-style pool which is LoHi’s first pool with city and mountain views.”
The property features 273 units with spacious floor plans equipped with top-of-the-line finishes, stainless steel appliances, washers/dryers, 9’+ ceilings, walk-in closets and select units with private balconies.
Denver’s premier Lower Highlands (“LoHi”) neighborhood was named by Forbes as one of America’s Best Hipster Neighborhoods and is home to some of the city’s most popular restaurants and bars.
“The interest in this property validates that the Denver metro region continues to be an attractive place for investors; supported by a growing economy and the nation’s second most educated workforce,” said J. J. Ament, CEO of the Metro Denver Economic Development Corporation.
Infinity LoHi provides residents with direct access to the neighborhood’s various amenities as well as employment on the Platte Street Office Corridor. Platte Street downtown Denver’s fastest growing office submarket with 450,000 square feet of existing office space and another 225,000 under construction, bringing 4,500 jobs to the immediate area. British Petroleum relocated their Lower 48 Headquarters from Houston to Platte Street, leasing 86,000 square feet at Riverview at 1700 Platte this year.