Security Properties Buys Denver Asset for Second Time
Security Properties acquired the Rosemont West 84th apartment complex, at 1327 W. 84th Ave., in Federal Heights, earlier this month for $51 million. The Denver Business Journal reports Security Properties previously acquired the 300-unit community for $46.5 million in 2017, before selling it for $76 million in 2021 to Investcorp.
The company said it re-acquired the asset at approximately one-third below its 2021 sale price and more than 50% below replacement cost.
The community includes a mix of studios, one-bedroom units, lofts, two-bedroom units and townhomes. Nearly 90% of the units were renovated before the firm bought back the building.
Amenities include a yoga studio, a game room, an outdoor pool, a fitness center and a clubhouse, Rosemont West 84th’s website states. The community also has sports courts, a barbecue grill and picnic area, a dog park and a grilling station.
The firm entered the Denver market in 2010. Rosemont West 84th is the 13th property the company has owned in the metro area.
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Remax Real Estate Professionals
Re/Max Real Estate Professionals
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Jared Ennis
Central CA Commercial | California
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Rick Recckio
Recckio Real Estate & Development
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Greg Corbin
Northgate Real Estate Group
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Essex Property Trust, Inc.
California
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Josh A
California
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Bob Tuteur
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Andrew Schildcrout