New York firm buys Westminster townhome community for $65 million

DENVER BUSINESS JOURNAL - Denver's reputation as a business hub has attracted a New York-based real estate firm to one of its submarkets.

Castle Lanterra Properties (CLP) has scooped up the 280-unit Sunset Ridge Townhomes in Westminster for $65 million, marking the firm's third property acquisition in a year.

"The long-term outlook of this submarket is very promising,” said CLP CEO Elie Rieder. “We were attracted by its positive supply/demand dynamics, high standard of living and easy access to two major employment centers in Boulder and Denver."

Rieder also noted Denver's projected population growth and its growing reputation for attracting businesses as a reason for the company's investments in the market.

Read more at the Denver Business Journal http://bizj.us/1peiqm

(© 2017 American City Business Journals. All rights reserved.)


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