29th Street Capital Buys Denver-area Apartments For $134M

by multihousingnews.com posted 1month ago 3 views
The 424-unit property in Aurora marks the firm's transition from purchasing value-add to higher-quality communities. : Real estate investment firm 29th Street Capital (29SC) has acquired the Class A apartment community Parq at Iliff Station in Aurora, Colo. The purchase price was $134 million. The identity of the seller was not disclosed. The acquisition reflects a change in direction for 29SC, which has focused on value-add multifamily acquisitions, and now is targeting newer, larger and higher-quality assets. The company expects to gain investment upsides by leveraging increased management efficiencies, energy savings initiatives and improving market conditions.

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