Griffis Residential sells Denver apartment complex for $75 million

DENVER BUSINESS JOURNAL - California-based real estate company Jackson Square Properties has acquired a Denver apartment complex for $75 million.

Jackson Square bought Gateway Park Apartments, at 4255 Kittredge St., from a partnership between Greenwood Village-based Griffis Residential and national real estate investment company PCCP LLC.

Gateway Park is a 328-unit complex consisting of 22 buildings on almost 21 acres. It was 98 percent leased at the time of sale. Units average 896 square feet.

“Gateway Park is a high-quality asset located in one of the Denver metro’s strongest rent-growth submarkets,” said Jordan Robbins, managing director at HFF Inc., which represented the seller. “We received a lot of interest in the property due to its value-add nature and supply constrained location.”

Read more at the Denver Business Journal: http://bit.ly/2uiB8Yd

Copyright 2017 Denver Business Journal


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