Commercial real estate firms Hamick Asset Management, Elevate Property Partners, BluSky Equity Partners, and Vista Laguna Asset Management have acquired Fairview Apartments in Aurora, their first joint acquisition in Colorado. The new ownership group intends to further improve Fairview’s exterior appearance and amenities, expand the office, and continue a proven template for interior renovations.
“We’re very pleased to be expanding our general partnership portfolio into Colorado with our acquisition of Fairview. We are encouraged by and excited about the strong economic and population growth in the Denver MSA, as well as the peerless quality of life residents enjoy there,” the investment leads commented.
Fairview is a 100-unit apartment complex, originally built in 1974 and renovated in 2018-21, located near Aurora’s City Center. This location makes it a short drive or ride on the light rail to employment options in downtown Denver, major medical centers along I-225, Buckley Space Force Base, and Denver International Airport.
Fairview’s unit mix of one and two-bedroom apartments and three and four-bedroom townhome units is attractive to families. The three and four-bedroom townhome units are especially rare in the submarket.
Residents at Fairview enjoy access to covered parking, a community vegetable garden, a playground with picnic areas, a dog park, and ample green space around the property. Interior amenities include ceiling fans and vinyl faux wood flooring with carpeted bedrooms. Select units also enjoy private fenced yards, two-tone paint, stainless steel appliances, built-in microwaves, tile backsplashes, tile or marble bath surrounds, and in-unit washer/dryers.
The teams are led by Tim Hamick at Hamick Asset Management, Bob Langan at Elevate Property Partners, Greg Butcher at BluSky Equity Partners, and Mark Lenning at Vista Laguna Asset Management.
Combined, the team of Hamick Asset Management, Elevate Property Partners, BluSky Equity Partners, and Vista Laguna Asset Management owns and operates a portfolio of over 1,200 multifamily units worth over $140 million across Arizona, Texas, and Michigan – and now Colorado.