Summit Communities Closes $29M Denver Disposition

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CBRE represented the seller, and Newmark provided Freddie Mac financing for the buyer. : The Croft Apartments, a 138-unit value-add community in Denver, has traded for $29.4 million. Willow Creek Partners acquired the property from a joint venture between Summit Communities and DVO Real Estate. Newmark provided the buyer with a seven-year, $21.8 million Freddie Mac loan, Yardi Matrix data shows. CBRE represented the seller. The Croft’s two six-story buildings opened in 1974. The property offers a mix of recently updated one- and two-bedroom apartments with floorplans between 520 and 1,140 square feet.

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