EverWest Sells Luxury Peakview Apartments in Denver Tech Center for $115 Million
Transaction underscores the continued investor demand for Colorado multifamily product
DENVER, CO (OCTOBER 10, 2022)
Denver-based EverWest Real Estate Investors (“EverWest”) has completed the sale of Peakview Apartments, located in the heart of the Denver Tech Center, for $115 million. The luxury community totals four stories and 304 units within the amenity-rich community of Centennial, Colorado and minutes from light rail, offering quick access to Denver’s central business district.
The multifamily development was completed in 2015 and since then has maintained strong occupancy. The asset has been purchased by Griffis Residential, a multifamily real estate investment company that owns and manages approximately 8,000 apartment homes in Colorado, Texas, California, Oregon and Washington.
“The success of this disposition reinforces that multifamily is still a very desirable product type for buyers in the Colorado market,” said Krystal Arceneaux, Executive Vice President and Head of Asset Management for EverWest. “As an active buyer and seller ourselves, EverWest will redeploy a portion of the proceeds from this sale into a soon-to-be-completed luxury apartment community in Denver.”
Peakview Apartments is located at 7700 E. Peakview Ave. in Centennial, Colorado. The community offers studio, one- and two-bedroom apartments with market-leading finishes and amenities, including a resort-style pool, rooftop deck, fitness center, bicycle storage and repair facilities. Parking is provided in a structured, controlled-access deck. Peakview sits just two blocks from the Arapahoe light rail station. Together, these amenities contribute to the asset's occupancy figures throughout COVID-19.
Denver Tech Center is located 12 miles south of downtown Denver and includes more than 25 million square feet of office space, hotels, shopping, dining and entertainment venues, including the Fiddler’s Green Amphitheatre.
EverWest actively invests in multifamily assets across the U.S. in key growth markets.
About EverWest Real Estate Investors LLC
EverWest Real Estate Investors (“EverWest”) is a real estate investment advisor providing investment management services throughout the U.S. including acquisitions, asset management, development and property management for our investors. With $5.5 billion in assets under management, EverWest clients invest through separately managed accounts and commingled funds. The firm is headquartered in Denver with regional investment offices in New York City, Charlotte, Los Angeles and San Francisco metro areas. EverWest is an affiliate of Sagard, a leading global alternative asset management platform within the Power Corporation of Canada ecosystem. For more information, visit www.everwest.com.