Triumph Real Estate Investment Fund II, a Canadian real estate fund based out of Calgary, Alberta, has purchased Triumph Hillcrest Plaza in Northglenn for $5.6 million.
Triumph Hillcrest Plaza is a 34,648-square-foot shopping center located at 1412 W 104th Avenue Northglenn. The property, which was 87.9 percent leased at the time of purchase, has tenants that include; Santiago’s, Budget rent A car, Fast Signs, Pop Culture, 151 Coffee to go and others.
“We are very pleased with our recent acquisition in the Greater Denver Area,” said David Wallach, president and founder of Triumph Real Estate Investment Fund. “The purchase of “Triumph Hillcrest Plaza” aligns with our fund’s fundamentals in buying neighborhood centers with basic services to the residents in those neighboring communities. This acquisition strengthens our position in the Denver market and is a good addition to Triumph Panorama Place which we acquired a couple of years ago and is part of Triumph Fund I. Our goal is to increase our presence in the Denver market as well as other states throughout the Central and Western U.S.,” Wallach said.
Triumph Real Estate Investment Fund II purchased Triumph Hillcrest Plaza from McCain Properties. Marc Lippitt, Justin Herman and Emily Lemere with Unique Properties Inc./TCN Worldwide were the exclusive agents and negotiated both deals on behalf of the Buyer. Gannon Roth of Unique Properties Inc./TCN Worldwide will handle the leasing, and Wheelhouse Commercial Property Management has been selected to manage the properties.
Photo courtesy of Unique Properties
