Laramar Group Purchases 296-Unit Multifamily Property in Denver, CO Market

The Laramar Group, a leading national real estate investment and property management company, has acquired Avery Park, a 296-unit apartment community at 9959 E. Peakview Ave. in Englewood, CO, a Denver submarket.  The property is in the Denver Tech Center submarket one of the strongest performing submarkets in the Denver metro area.

“The Denver market continues to outperform many multifamily investment markets across the country,” said Josh Mullins, Vice President of Investments for Laramar. “Given the diverse workforce and strong population growth trends, we expect to see continued expansion in this market for years to come.”

Laramar purchased the property as a value-add opportunity and is completing a strategic renovation program to enhance the property’s visibility in the marketplace. The two-story, garden-style complex was constructed in 1979. There have been significant capital improvements made to the property since 2016, including a newly constructed leasing clubhouse, new windows, exterior siding and finishes, and a renovated fitness center. Laramar is beginning an interior renovation program to add modern cabinetry, quartz countertops and sinks, wood-look flooring, and other fixtures and finishes.

The property includes a mix of one, two and three-bedroom units, with an average square footage of 890. The property includes a 24-hour fitness center, as well as an expansive outdoor recreation area with a swimming pool, community playground and upgraded BBQ area and sports court. Many of the units include central air conditioning, in-unit washers and dryers, wood burning fireplaces, and private patios or balconies. The property is pet friendly.

The property is located in the Southeast Business Corridor along I-25 that includes six business parks totaling more than 37 million square feet of office space, supporting more than 240,000 workers. The property is near the coveted Denver Tech Center, which employs more than 35,000 workers. It also provides proximity to growing retail and entertainment venues, and major highways and thoroughfares throughout the Denver market.

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Founded in 1989, Laramar Group is a vertically integrated and distinguished national real estate investment and property management corporation with a multi-billion dollar portfolio. For over 30 years, Laramar has delivered an unparalleled level of service to the real estate industry. Laramar has specialized in managing and acquiring multifamily properties throughout its entire company history. The company manages a wide range of properties from high-rise urban to smaller urban neighborhood to suburban garden-style properties and has a presence in over 20 markets from coast to coast. Laramar maintains corporate offices in Chicago, and Denver.

Contact:
Anna Shea
Sr. Director of Marketing
303.991.2625