Northmarq completes $29.1 million sale of Highline Lofts Apartments in Aurora, Colorado

Highline Lofts Apts

Investment Sales - Multifamily

Multi-Tenant

DENVER, COLORADO (March 10, 2022) – Northmarq’s Colorado Multifamily Investment Sales team of Alex Possick, Rich Ritter and Seth Gallman listed and completed the $29,075,000 sale of Highline Lofts Apartments, a 112-unit, 1972-vintage multifamily property located at 456 South Ironton Street in Aurora, Colorado. Northmarq represented the seller, Lowe Property Group. The property was acquired by regional owner/operator, Summit Communities.

“The sale of Highline Lofts Apartments is an excellent example of the strength of the Denver market and the intense demand for well-located, value-add investment opportunities from multifamily equity investors,” said Possick. “We saw significant interest during our marketing campaign with almost two hundred groups registering to underwrite the prospective acquisition. The asset represents a strategic repositioning opportunity through the completion of a value-add business program and organic rental runway exhibited during the marketing campaign. These factors drove maximum attention from the investment field and ultimately enabled us to hit a record-setting price per unit ($260k/Unit), for 1970’s vintage product in Aurora.”

Highline Lofts Apartments offers one, two and three-bedroom floorplans (ranging from 740 to 1,395 sq. ft.) within a serene, low-density environment. The property sits steps away from Expo Park & the Highline Canal Trail, with miles of running and cycling trails, as well as a renowned disc golf course and recreation center.

Strategically located less than ten minutes from the R-Line Aurora Metro Center light rail station and I-225, Highline Lofts Apartments provides excellent transportation linkages and convenient access to some of Denver’s largest employment centers, including Denver’s Central Business District (20 minutes), the Denver Tech Center (15 minutes), Anschutz Medical Campus (10 minutes) and Cherry Creek (10 minutes) – and is situated within the prestigious Cherry Creek School District.

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About Northmarq

Northmarq is one of the largest privately held commercial real estate firms in the United States, combining a nationwide presence with deep local expertise. With more than 50 offices across the country, we provide a full suite of debt, equity, investment sales, loan servicing and fund management solutions for a comprehensive range of property types. Our unique structure allows us to connect clients with the best opportunities, yet be nimble enough to ensure access to every expert across our company. The firm manages a loan servicing portfolio of over $78 billion and has completed $69.5 billion in transactions over the past three years. At Northmarq, collaboration fuels results, helping clients achieve success in every market, nationwide. For more information, visit www.northmarq.com.