BrokerageMultifamilyRenovation

Terra Village Apartments in Edgewater Sell for $110M

Unique Properties, Inc./TCN Worldwide and the Unique Apartment Group proudly announced the sale of the Terra Village Apartments for $110 million. Terra Village is situated just northwest of Sloan’s Lake on 26th Avenue. The 402-unit property sold for $273,631 per unit or $324/SF.

The sellers were approached with an offer by Trion Properties, a California-based investment group with a strong presence in the Colorado market. This is Trion’s fifth purchase in the Colorado market since 2020, having acquired 11100 E Dartmouth Ave in late 2021.

Elliott Polanchyck, Will McCauley, Phil Dankner, Kevin Higgins, and Marc Lippitt were the exclusive agents in the transaction.

According to Trion, the new name of the property will be “EDGE 26 at Sloan’s Lake,” the rebrand will come with an updated paint scheme, new signage along 26th Avenue and throughout the property, a new leasing office, and upgrades to the 16-acre site’s amenities. Unit renovations will include washer/dryers in the unit, hard surface countertops, stainless steel appliances, a modern interior paint scheme, modern fixtures throughout, and an updated tech package. As a result, we see tremendous upside as demonstrated by multiple comparable properties in the neighborhood.

The Edgewater/Sloan’s Lake submarket has seen unprecedented growth with no signs of slowing down, as it’s solidified itself as one of Denver’s most popular neighborhoods to live in. The property is within walking distance of a multitude of vibrant restaurants, food halls, bars, and local hotspots that attract Denver residents from all neighborhoods.

 

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