DENVER BUSINESS JOURNAL - The Breakers Resort, a 1,523-unit apartment complex at 9099 E. Mississippi Ave. in Denver, has sold for a record price of close to $350 million, according to public record.
Florida-based Pensam Residential, BH Equities LLC and Wafra Capital Partners acquired a majority stake in the property, which was previously owned by The Bascom Group and Denver's Koelbel & Co.
The purchase price makes the sale the largest apartment trade in Colorado's history.
The apartments are spread among six "villages" that sit on 190 acres of land in eastern Denver near the border of Aurora. The purchase also includes a 26,000-square-foot recreation center. An 18-acre parcel of land that could be developed in the future was not included in the sale and is still owned by Bascom and Koelbel.
Read more at the Denver Business Journal: http://bit.ly/2dFE0cw
(© 2016 American City Business Journals. All rights reserved.)