Chicago-based Equity Residential, a publicly-traded real estate investment trust that invests in apartments, has purchased two apartment communities on Colorado Boulevard for a combined $311 million. Milo and Theo total 594 units at CIM Group and Continuum Partners‘ 9+CO development in Denver.
9+CO is a mixed-use redevelopment of the 26-acre former University of Colorado Health Sciences Center located at 9th and Colorado. In addition to the market rate apartments at Milo and Theo, 9+CO features Class A office space, entertainment, boutique shopping and dining, inviting public gathering spaces, and ample parking. The 12-block development is linked together by outdoor green spaces in a pedestrian-friendly setting for residents and visitors alike.
“9+CO is a significant infill development that provides a variety of entertainment, dining, and community-serving retail options benefitting the surrounding neighborhood as well as the property’s residents,” said Shaul Kuba, co-founder and principal, CIM Group.
Located at 4109 E. 10th Ave., Milo is an eight-story apartment community containing 319 residences. Milo offers a mix of housing options from studios to three-bedroom apartments in an array of floor plans, in addition to townhome-style residences with private entrances, and a 418-stall parking garage. It was built in 2019.
Across the street is Theo at 985 N. Albion St., a nine-story apartment community with 275 residences ranging from studio to three-bedroom floor plans, more than 41,000 square feet of ground-floor retail, and 1,062 parking spaces. It was built in 2018.
Milo and Theo residents have access to a wide range of community amenities such as a resort-style pool and spa courtyard, fitness studio and yoga room, resident lounge, game room, fire pits and grilling stations, coworking spaces, and a pet spa. They also benefit from the various on-site retailers and services including cafes, a fitness studio, a daycare, and a chiropractor.
9+CO is situated at the intersection of Cherry Creek, Hilltop, Hale, and Congress Park neighborhoods. The location provides easy access along Colorado Boulevard and is a short drive from Downtown Denver and the Denver Tech Center, as well as some of Denver’s best attractions including the Denver Zoo, Denver Botanic Gardens, and Cherry Creek Shopping District.
“The 9+CO community is fully embraced not just by those that live and work there, but also by patrons from surrounding neighborhoods who come to enjoy everything it has to offer,” said Frank Cannon, development director for Continuum Partners. “In just a few short years, 9+CO has been transformed from a dilapidated campus of vacant buildings to an authentic and iconic Denver neighborhood.”
CIM has been an active owner, developer, and operator in Denver for more than 10 years. CIM’s Denver portfolio includes Ella CityHomes at 9+CO, a collection of 35 for-sale luxury townhomes, and LoDo Towers, two high-rise office buildings totaling approximately 421,000 square feet in Lower Downtown Denver.
