Northmarq completes sale of Elevate @ Peña Station Apartments in Aurora, Colorado
DENVER, COLORADO (November 9, 2021) –Dave Martin and Brian Mooney of Northmarq’s Denver investment sales team listed and completed the sale of the Elevate @ Peña Station apartments, a 218-unit multifamily property located at 17607 E. 61st Avenue in Aurora, Colorado. Northmarq represented the seller, MGL Partners.
Completed in 2019, the units at Elevate @ Peña Station are designed as a mix of one-, two-, and three-bedroom units spread throughout five, three-story rental buildings with tuck-under garages in every building. A 7,000 square foot, two-story clubhouse adjoins a spacious fitness center with a yoga/spinning/barre room and sundeck.
KG Investors, LLC was the buyer.
“Elevate @ Peña Station represents the ideal suburban TOD opportunity with the University of Colorado A-Line commuter rail station situated adjacent to the property,” said Martin. The property is an important initial phase of the innovative Peña Station NEXT development, a 382-acre smart city prototype envisioned as the future of technologically integrated and sustainable mixed-use development. Upon build-out, Peña Station Next will feature 1.5 million square feet of office space, 500,000 square feet of retail, and over 2,500 residences “designed to be the smartest and most sustainable 382 acres in the country,” Martin added.
A mere 10 minutes, and only one light-rail stop, from Denver International Airport, Elevate @ Peña Station is well-positioned to attract the affluent renter pool rapidly gravitating to one of Denver’s best long-term growth submarkets.
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Northmarq is a full-service capital markets resource for commercial real estate investors, offering seamless collaboration with top experts in debt, equity, investment sales, loan servicing, and fund management. The company combines industry-leading capabilities with a flexible structure, enabling its national team of experienced professionals to create innovative solutions for clients. Northmarq’s solid foundation and entrepreneurial approach have built a loan servicing portfolio of more than $76 billion and a two-year transaction volume of $52 billion. Through the 2022 acquisition of Stan Johnson Company, Northmarq established itself as a provider of opportunities across all major asset classes. For more information, visit www.northmarq.com.
