Denver-based companies Trailbreak Partners and Quannah Partners have completed the acquisition of Kabin Apartments, a 194-unit multifamily building located in Zeppelin Development’s TAXI project in RiNo. The Kabin Apartments were purchased for $39.5 million, according to records filed with the City and County of Denver.
Located at 2095 31st Street, Kabin is part of the TAXI Campus — a 28-acre mixed-use community featuring ten buildings, more than 110 businesses, including BOA Technology’s global HQ, and over 350 full-time residents. Kabin residents have access to a wide array of campus-wide amenities such as a shipping container pool, sand volleyball court, community gardens, bike storage dog parks, retail spaces, round-the-clock security and a new 7,000-square-foot fitness center.
“Kabin Apartments represents everything we look for in an investment: strong design, a dynamic neighborhood and a thriving community,” said Douglas Elenowitz, principal at Trailbreak Partners. “We’re excited to build on the exceptional work Zeppelin and Habitat have done, investing in this one-of-a-kind property and enhancing the resident experience.”
Trailbreak Partners and Quannah acquired the property from Zeppelin Development, who started developing the Taxi site almost 25 years ago. Kabin’s stabilized occupancy, driven largely by the amenity-rich, community experience at Taxi, coupled with exceptional service by Habitat Property Management – attracted the partnership to this unique property. Habitat will continue to manage and oversee operations, ensuring seamless continuity for residents and preserving a strong sense of community.
Zeppelin Development sees this transition as a continuation of its vision for the TAXI Campus and the RiNo neighborhood.
“Based on 25+ years of developing the Taxi campus up to this point, we were selective about ensuring a compatible outlook and couldn’t be more excited about this new partnership with Trailbreak,” said Kyle Zeppelin, president and CEO of Zeppelin Development. “Trailbreak’s commitment to the property and its residents ensures that Kabin will continue to thrive as a cornerstone of this creative, high-design campus. We are confident that this partnership will preserve and build upon what makes Kabin and the TAXI community special.”
NAI Shames Makovsky‘s Dorit Fischer and Hayden Hirschfeld represented Zeppelin Development in the sale.
